
End of Day Report – Friday 30th May ASX 200 up 25 -Late surge - Best month since January - Up 3.8% - Banks as usual - Golds do well.
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The ASX 200 had a late surge to finish the month with a gain today of 25 points to 8435. ASX records best month since January. Up 3.8%. Banks yet again showed the strength as CBA rose 0.9% with the Big Bank Basket up to $275.55 (1.1%). WBC surged 2.7% and NAB up 1.3% with some month end window dressing. Insurers slid slightly, QBE down 1.3% with REITS up. GMG up 1.3% and VCX rising 1.2%. Industrials found a footing, BXB up 1.0%, WOW and COL firmed, and ORG up 2.1%. Tech slipped slightly with WTC down 1.5% and XRO off 0.8%. Healthcare mixed, In resources, mixed in the majors, BHP up 0.3% and FMG down 1.9%. Gold miners were better, NST up 3.2% with GMD up 4.4%, VAU up 3.5% as some window dressing helped. Lithium stocks slid on a broker downgrade to carbonate prices, PLS down 5.7% and IGO off 5.4%. WDS fell 2.1% and STO off 0.9%. Uranium stock eased back, coal miners fell, WHC off 1.8%. In corporate news, HCW leapt on rent relief for Healthscope, NWH up on a RIO contract and FND down nearly 9% on results. In economic news, retail sales slipped. Asian markets fell with Japan down 0.9%, China down 0.3%, and HK down 1.5%. 10-year yields at 4.28%.
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