Market Updates

The ASX 200 climbed to a five-month high, rising 127 points to 9,146 (1.4%), as the banking sector took off once again. CBA rose 1.6% and NAB gained 3.0%, with the Big Bank Basket climbing to $300.56 (+1.4%). MQG added 3.1%, while other financials also performed well, with ASX up 2.0% and IFT rising 1.3%.
Industrials also enjoyed a strong session, with SGH up 2.5% and BXB gaining 1.9%. The healthcare sector was particularly buoyant, led by CSL, which rose 3.6%. REITs were also solid, with CHC up 2.2% and SGP adding 1.4%.
Technology stocks continued to build on recent gains, with XRO up 3.5% and WTC rising 3.1%. Even the data centre sector joined the rally, with NXT up 4.2%.
Resources were firmer across the board. LYC rose 6.6%, while the lithium sector also enjoyed a better day, with PLS up 4.9% and MIN gaining 2.8%. The iron ore majors edged higher despite softer iron ore prices in Singapore trading, while gold miners also had a good session, with NST up 2.1% and NEM rising 2.1%. Iron ore minres were better mostly, FMG up 1.6% and RIO up 1.7%.
We also saw buying in the copper sector, with CSC up 3.5% and SFR gaining 3.9%. Oil and gas stocks moved higher, led by WDS, up 1.4%, while uranium and coal stocks were also firmer.
In corporate news, we got a taste of what reporting season has in store, with CCP missing expectations and falling heavily, down 7.0%. MGH enjoyed a strong session after announcing a major contract with Firmus, rising 8.1%. We also saw solid gains in DRO following a substantial shareholder notice.
On the local economic front, household spending surged ahead of expectations in June, helped by strong EV sales.
Asian markets were mixed, with the Nikkei 225 down 0.1%, Hong Kong down 0.8%, China up 1.3%, and Korea off 0.35%. US futures were firmer, with the Dow up 118 points and the Nasdaq up 147 points. European markets are set to open around 0.4% higher. 
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Marcus Today provides clear, practical commentary for self-directed investors – covering markets, portfolios, education, and decision-making without the noise.
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A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
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The ASX 200 closed up 43 points at 9,020, as promising news from the Middle East over the weekend encouraged buyers back into the market. Stronger US futures helped sentiment, while a fall in the oil price added to the optimism.
The banking sector shrugged off early losses, with NAB up 0.7% and WBC up 0.8%. Financials were generally firmer, with MQG edging 0.8% higher and the insurers also finishing in positive territory. The Big Bank Basket up to $294.96 (+0.3%).
Elsewhere, industrials caught a bid, with QAN up 3.7% on the back of lower oil prices, SGH also performing well, and WES rising 1.5%. Retail stocks were firmer, with JBH up 0.6%, while WOW and COL also drifted higher.
In the technology sector, WTC rose 1.2% and XRO gained 1.9%. Healthcare also had a better session, with CSL up 1.0% and RMD rising 1.6%.
In resources, the iron ore majors were mixed, with BHP 0.7% higher, while RIO and FMG both eased. The gold sector was slightly firmer, with EVN up 1.7% and GGP gaining 1.1%. Once again, lithium stocks came under a little pressure, with PLS down 1.7% and MIN off 0.4%.
Meanwhile, oil and gas stocks slipped as crude prices fell, with WDS down 1.4% and STO easing1.9%. Uranium stocks were mixed, with PDN up X%.
In corporate news, SDF rose 2.9% after KKR confirmed it was proceeding with its takeover offer, having largely completed due diligence. FPR also jumped 17.3% following a non-binding indicative offer from SG Fleet.
There was nothing of note on the local economic front.
Asian markets were better, with the Nikkei 225 down 1.1%, Hong Kong unchanged, China down 1%, and Korea off around 5.5%. US futures were firmer, with the Dow up 294 points and the Nasdaq up 250 points. European markets are set to open around 1% higher. UK closed for August Bank Holiday.
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Wall St rose on Friday night, closing out one of the wildest weeks of the AI boom with a decisive snapback. Dow Jones up 277 points. S&P 500 up 0.70%. Nasdaq up 1.00%. Russell 2000 down 0.50%. VIX down 6.44%.
ASX set to fall on Monday. SPI futures down 85 points. That was before US-Iran talks - Oil fell hard - FPR bid.
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Disclaimer
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The ASX 200 closed up a mere 9 points at 8,978 (0.1%), as a solid start gave way to caution ahead of the weekend. There was a bounce today in some of the oversold small and mid-cap stocks as the banks eased back, with CBA down 0.4% and ANZ down 0.5%, and the Big Bank Basket falling to $294.04 (0.5%). Financials were slightly firmer, with MQG leading the charge, up 1.2%. Other financials also bounced well, but insurers slipped, with QBE down 2.5% and IAG down 1.5%.
Elsewhere, industrials were somewhat weaker, with WOW and COL seeing sellers, together with REA, CAR and SEK. Healthcare was also under pressure, with CSL down 3.8% and RMD falling 1.5%. Technology stocks eased back in the software space, but the hardware and data centre sector firmed, with WTC down 4.2% and NXT up 4.5%.
In resources, buyers returned for BHP and RIO, together with the gold miners, which were stronger as EVN rose 1.9% and NEM gained 3.5%. Lithium stocks, though, remain weak, with PLS down 1.4% and LTR continuing to fall from grace. Oil and gas stocks flat, with WDS up 0.2% and STO up 0.1%, while coal stocks also slipped as uranium stocks bounced slightly.
In corporate news, FMG took a $746.8m hit on its Iron Bridge project. ORG was up 0.9% with Octopus adding 2.2 million customers, while OBM had a good day as it expanded the footprint of its Little Gem Gold Project. MGH also got the tick of approval to sell its construction business to Heidelberg.
In economic news, China factory activity unexpectedly contracted in July.
Asian markets were better, with the Nikkei 225 up 4.3%, Hong Kong down 0.2%, China up 1.2%, and Korea up a record 17.4%. US futures were firmer, with the Dow up 242 points and the Nasdaq up 322 points. European markets are set to open around 0.5% higher.
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MT20 – Managed ETF Portfolio
A professionally managed portfolio run by Marcus Padley and the team, using ASX-listed ETFs with active market timing.
http://bit.ly/mt20-podcast
Principles – How We Think About Investing
A short video series on timing, behaviour, and decision-making. No stock tips.
http://bit.ly/mt-principles-podcast
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Disclaimer
This podcast is general information only and does not consider your personal circumstances. It is not personal financial advice.