The ASX 200 is up 104 points (+1.5%) following yesterday’s violent swing after BoJ’s unexpected changes to bond yield bands. All sectors are up, with Gold leading the way up 5%. The resource sector is the best performer, Metals, Materials and Resources are leading the market higher. Interest rate-sensitive Tech is also up 1.9% with the All-Tech Index up 1.5%. Defensives are all up, Staples, Telecoms and Healthcare 0.7%, 0.6% and 0.6% respectively. TPG Telecom (TPG) is down 3% after the ACCC blocks TLS regional network deal. European Lithium Limited (EUR) is up 15.3% after signing offtake agreement with BMW. The agreement grants BMW the first right to purchase 100% of the LiOH produced from the identified resources at Wolfsberg. Dow Futures are up 135 points, and NASDAQ Futures are up 42 points.
Anyone who has been in broking will tell you that the Morning Meeting is how all brokers start the day. The format is to have a quick look at the overnight markets, consider what's coming up in the day ahead, hear from the analysts, share ideas and get set up for the day's stock market activity.
