The ASX 200 pushed 27 points higher to 7470 (0.4%) on positive US leads and positive updates from ELD and IPL. Banks were mixed with the BigBankBasket slightly higher at $188.71 as NAB went ex-dividend (8 index points) and CBA fell 0.1%. MQG rose 0.9% and other fund managers rose slightly as MFG put on 1.1%. Industrials firmed with ALL up 1.2% and TLS rising 0.8%, with REITS rallying in yields fell and TCL up 0.7%. Consumer stocks in demand with healthcare stocks also in the pink. RMD up 5.2% and FPH doing well too up 3.6%. Tech stocks mixed with APT down 0.9% and XRO up 2.5%.
Miners were mixed, lithium stocks still in demand, FMG higher on the hydrogen story though both BHP and RIO eased on local iron ore weakness. Gold miners were slightly higher as NCM put on 0.7% and NST 0.3% better.
In corporate news, ELD fell 0.7% despite positive FY21 results, IPL firmed 3.9% on its results and MSB had some good news for a change from the Phase III trials of Rexlemestrocel cardiac treatment, up 11.8%. LTR denied it was going to tap shareholders for fund rising 4.8% and BRN fell 9.1% on a new CEO. 10-year yields fell to 1.76% down 5 bps. Short-dated yields also eased back slightly.
Why not sign up for a free trial? Get access to expert insights and independent research and become a better investor.