An interesting day as the ASX 200 closed up 2 points at 9201. A good fight back from early losses as we await the day’s action in Iran. The playbook for a conflict was back in force. Gold miners rose with NST up 4.8% and EVN rising 6.6%, base metal stocks also rose with oil and gas stocks flying high, STO up 6.7% with KAR rallying 15.2% on a broker upgrade too. Uranium stocks firmed. The big miners were solid, BHP and RIO up around 1.4% although FMG fell 3.0% as it went ex-dividend. Travel stocks fell, WEB down % and FLT off 5.7%. QAN down 5.4% although VGN rose 4.5%. Retail stocks eased back as oil price rises will take away some demand. ALL down 1.8% and JBH off 0.7%. Tech stocks were hurt, more on US tech than any war discount. WTC dropped % and XRO fell % with the All-Tech Index down 2.5%. Banks were flat with the Big Bank Basket down to $302.24 (%). Issues more with mortgage fraud and following US banks lower. MQG hit for six on US investment bank woes, Plus MFG announced a merger with Barrenjoey. Other financials also eased back.

In corporate news, LYC jumped 5.4% on a renewal of its Malaysian licence for another ten years. MAF dropped 2.6% after agreeing to sell Infinite Care. MFG in a halt, as it raises $130m to merge with Barrenjoey.

In economic news, Job advertisements in Australia rose back-to-back for the first time in 16 months.

Asian markets weaker, South Korea closed, Japan down 1.3% with airline stocks in Asia under serious pressure. HK down 1.6% and China down 0.1%

10-year yields fall to 4.64%

US Futures obviously weaker but off lows, weaker despite Nvidia results beating forecasts.

DJ down 360 Nasdaq down 180. US crude up 5.7% at US$70.

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