The ASX 200 Jumped 67 points to close at 8,783 (0.8%), slightly off the day's highs but a solid performance nonetheless. A recovery in the banking sector helping push things along, with CBA up 1.2%, NAB up 2.3%, and MQG also having a good day, up 2.1%. Insurers were generally positive, and other financials also in the green.
Elsewhere, REITs fell, with GMG down 1.9% and SCG also falling 1.2%. SGP fell on a broker downgrade. In the industrials, generally weaker across the board, with retail under a little pressure. JBH down 0.5% and APE down 1.4%. With TLS continuing to stumble after the SpaceX Spectrum deal last week, both WOW and REA slipped too. Tech stocks again showing some signs of life, although the sector was well off its intraday highs as well. XRO up 2.8% on a broker upgrade, and WTC also doing okay, although NXT continues to stumble, with MP1 up 4.8%.
Resources were a little mixed, with the iron ore majors doing well, led by BHP up 2.5% on copper prices pushing higher in Asia. Gold miners had a good day, with NST up 2.5% and GMD up 0.7%, but lithium stocks remained depressed, PLS down 3.7%, and rare earth stocks also falling, LYC down 3.1%. Not much happening in WDS or STO today, and uranium stocks continue to struggle somewhat.
In corporate news, MGH continues to slide on the Firmus fiasco last week. TWE announced it had sold the Rosemount brands back to the Oatley family.
Nothing significant today on the economic front.
10-year yields ease to 5.32%. US Futures showing solid gains. Bond markets closed for Colombus Day.
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