Market Updates

The ASX 200 rose 44 points to 8,806, up 0.5%, after a slow start, with the banks finding their feet. For the week, the ASX 200 fell 38 pts. CBA rose 0.5% and ANZ gained 0.8%. The Big Bank Basket rose to $281.06 (0.6%). Other financials also firmed, with MQG up 0.9% and NWL rising 2.2%. ZIP rallied 2.0%. REITs were better, with GMG up 0.2% and CHC rising 2.2%. In the industrials, we saw some profit-taking, with TLS under pressure now that Vicki Brady is back on board from her holiday. WOW and COL were also in profit-taking mode after defensive buying earlier this week. Elsewhere, the healthcare sector pulled back after a strong week, with CSL down 2.1% and RMD falling 0.9%. Technology stocks were under pressure, unable to capitalise on the improved outlook for US software companies, with XRO down 1.3% and WTC falling another 1.8%. The All-Tech Index fell 0.6%.
Resource stocks were the heroes today, as the iron ore miners pushed higher. BHP bounced 2.5%, RIO also recovered after yesterday's heavy falls, rising 3.8%, while FMG edged up 2.0%. Gold miners were back in the green after this week's weakness, with EVN up 3.4% and NST gaining 1.7%. Lithium stocks remained under a little pressure, with PLS up 0.4%. Oil and gas stocks eased, with WDS and STO both lower. Uranium stocks were stronger, with PDN up 4.1%, while SLX was one of the standout performers, soaring 9.4%.
In corporate news, INA responded to media reports of an approach from PPC. BVS jumped after it upgraded its FY26 earnings. WTC fell despite reassuring the market on DSV relations. SFR up strongly on an increase in its Black Butte mine life. 
There was nothing of note on the local economic front.
Asian markets were mixed with the Nikkei 225 up 1.7%, the Hang Seng up 1.3%, and the CSI index down 1.0%. Kopsi up 4.2% ahead of SK Hynix debut. European futures were narrowly mixed.
US futures were weaker with the Dow up 12 and the Nasdaq down 153. 
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US stocks gained traction on Thursday amid gains for chip producers and an improvement in credit conditions. The S&P 500 rose 0.5% and the Nasdaq 100 gained 1.3%, while the Dow rose 200 points. Memory chip producers were sharply higher as markets reconsidered the speculative outlook of AI infrastructure manufacturers. These were magnified by the introduction of SK Hynix ADRs tomorrow, the world's largest memory producer, with reports stating the receipts are seven times oversubscribed. Micron and Sandisk were 7% up. Meanwhile, oil prices and bond yields eased amid evidence that laden tankers continued to cross the Strait of Hormuz despite fresh attacks between the US and Iran. This supported the financial sector with Morgan Stanley, Goldman Sachs, and American Express, adding around 3% each. Meanwhile, Meta rebounded from early losses to a 2% gain after announcing it will target production of its own AI chip by September.
SPI down 2 - Gold up - Oil down - BVS upgrade
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The ASX 200 fell 23 points as, once again, resources came under pressure. BHP fell 1.1%, RIO was hit hard following a broker downgrade, down 3.3%, and FMG also lost ground. Gold miners were weaker despite gold holding relatively steady. NST fell 0.9%, while EVN down 1.7%. Elsewhere, lithium and rare earth stocks also drifted lower, with S32 down 3.5%.
Meanwhile, in the oil and gas sector, both WDS and STO rose, along with uranium stocks, following the deal with India announced by the Prime Minister. Banks drifted lower, with NAB the weakest of the Big Four, taking the Big Bank Basket down to $279.35 -0.1%). Insurers were mixed, as were financials, with ZIP falling 1.0%. The REIT sector also drifted lower, led by GMG down 0.9% and SGP off 3.7%, following yesterday's strong gains.
Industrials and healthcare were slightly firmer. TLS recovered 1.2% after the outage issue, while both WOW and COL gained as investors sought out defensive names. Healthcare was also better, with CSL up 1.0%, although RMD slipped 2.8%.
In the tech sector, XRO edged higher, although WTC eased slightly. Retail stocks also had a good session, with JBH up 0.3% and APE also rising 2.2%. Travel stocks eased as renewed US strikes in Iran pushed the oil price up 1.2%.
In corporate news, SDF rose slightly as discussions continued on the takeover bid. FDC rocketed 12.3% higher after raising $400m in the largest IPO of the year, while LTR fell after securing gold price protection through forward selling to manage volatility.
There was nothing of note on the local economic front, although we did see Chinese CPI and PPI data released today.
Asian markets were mixed with the Nikkei 225 up 1.2%, the Hang Seng down 1%, and the CSI index up 0.6% European futures were  firmer.
US futures were also better with the Dow up 50 and the Nasdaq up 162
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The ASX 200 fell another 19 points to 8785 (0.2%) as resources were once again under pressure. Well off the lows though of around 120 pts down. BHP fell 2.3% on potential strike action, RIO dropped 2.6% and FMG held up relatively well. Lithium plays remained depressed, with PLS down 3.3% and LTR falling 4.3%. Gold miners were also under pressure, although well off their lows, with NST down 1.7%, EVN crashing 4.2% and GMD also in trouble. LYC managed a small gain, as did BSL. Oil and gas stocks were a bright spot as crude prices rose, with WDS up 3.2% and STO rising 5.8%. Coal stocks also fared better, with WHC up 2.1% and YAL rising 4.0%. Uranium stocks were mixed.
The banks were once again a safe haven, with the Big Bank Basket rising to $279.89  (0.98%) as CBA added 0.9% and ANZ jumped 1.2%. MQG slid 0.5%, while other financials were also under the pump, with NWL dropping 3.9%. Insurers were firmer on higher bond yields. REITs also pushed ahead, with SGP up 5.1% and SCG rising 0.8%. Healthcare took a breather today, with RMD dropping 0.8% and SIG falling 0.7%. The tech space was once again unloved, with WTC giving back recent gains, falling 7.3%, and XRO dropping another 1.2%. NXT fell 1.0%, while TLS eased % as a serious outage damaged the brand. The All-Tech Index down 1.4%. Retailers firmed, with WES up 0.5% and JBH gaining 1.9%.
In corporate news, RMD sold a software business, GGP appointed a new COO, and ADH warned of a $43m loss driven by impairments.
On the economic front, the RBNZ raised rates for the first time in three years. Locally, dwelling commencements fell 11.2%.
Asian markets were weaker. The Nikkei 225 fell 1.2%, Hong Kong up 2.9%, China dropped 0.2%, while the Kospi fell 5.5% following Samsung's results. European futures were slightly weaker.
US futures were also softer, with the Dow down 99 points and the Nasdaq off 42 points.
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US stock indices closed mixed on Wednesday as higher oil prices worsened the macroeconomic backdrop while chipmakers rebounded. The S&P 500 fell 0.3%, the Dow lost 577 points, while the Nasdaq 100 gained 0.3%. Treasury yields rose after President Trump said the ceasefire with Iran was "over" following renewed strikes, fueling concerns over energy-driven inflation. Those fears were reinforced by minutes from the Fed's June meeting, which showed some policymakers saw a case for further rate hikes if inflation remains elevated. Credit-sensitive sectors weakened, with JPMorgan losing 2.5% and Visa down 1.3%. Most AI hyperscalers lost amid concerns over heavy spending on data center infrastructure, with Alphabet (-1.4%), Amazon (-1%), and Microsoft (-1.4%) down. Chipmakers lifted the Nasdaq. Broadcom gained 4.8% after expanding its agreement with Apple (+0.9%) on US-made components, while Nvidia rose 3.6% on reports that Chinese firms plan to increase purchases of H200 chips.
SPI down 49 - Gold steady - Resources to be pressured again.
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Disclaimer
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