End of Day – Tue 1 Mar

• The ASX 200 closed up 47 points at 7097 (0.7%), well off its highs as some caution crept in. No bad news from Ukraine was good news for the market with one eye on the RBA, which once again stressed ‘patience’ is required. Banks were solid as the Big Bank Basket rose $173.33 (1.3%) with CBA the standout, MQG rose 1.3% and insurers had a day to rally despite QLD and NSW floods. SUN up 1.2% and SDF up 0.7%. Industrials firmed with travel stocks in focus, QAN up 1.8%, FLT up 3.3% and WEB rising 4.0%. 
• Tech was the big gainer today as the sector bounced hard and fast. SQ2 was a big winner up 12.8% as Block rallied in the US. The All-Tech Index rallied another 4.5% with XRO up 7.03% and WTC better by 4.7%. Even ‘old skool’ tech rallied, REA up 3.5% and SEK finding friends up 6.2%. Healthcare dominated by a rise in CSL up 0.4% and COH up 1.7%. Miners were mixed, base metal stocks were in demand, IGO rallied 6.7% on Glencore deal being off so no cap raise, lithium better, PLS up 3.3% AKE up 7.0% and SYA up strongly 11.1% on a resource upgrade. Iron ore miners flat and golds down led by NCM down 1.3% and NST off 2.8%. Energy stocks better, WPL up 0.5% and KAR rising 3.9%. 
• Uranium stocks also doing well as Europe looks to new energy sources rather than oil and gas from Putin.
•  In company news, Z1P returned post its capital raise down 6.3% still trading at a premium to target SZL up 9.8%. KLL fell 21.0 % on an operational update as more funding may be required, CBA sold its Chinese banking investment, ANZ saw some management changes and ALQ rose 4.7% on new guidance. Asian market slightly firmer and 10 year yields 2.18%.  

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