Wednesday 22nd July – ASX 200 up 30

22 Wednesday Jul 2026

Posted by in Daily Reports

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The ASX 200 closed up 30 points to 8823 (0.3%), with resources back in favour and the gold sector shining. It seemed as though defensive stocks were sold to fund buying in the likes of BHP, which rose 2.5%, and RIO, up 2.5%. The gold miners had a good day, with NST rallying 3.5% and EVN up 4.3%, alongside solid gains across the sector. We also saw gains in the oil and gas space as crude prices headed higher, with WDS and STO both up more than 1%. Coal stocks also performed well, with YAL enjoying a strong session, as did NHC. Uranium stocks were in the green too, with PDN up 6.7% following its quarterly report on its Namibian operations.

Lithium stocks gained a little ground, but LYC fell 3.6% after a disappointing quarterly result highlighted higher costs. Meanwhile, industrials sold off, with the tech sector once again under pressure. XRO fell 2.6%, TNE dropped 2.3%, and NXT gave back some of yesterday’s gains. REA, CAR, and SEK also fell, while the healthcare sector was led lower by CSL, down 2.8%. Industrials slipped, with WES down 2.1%, JBH off 1.5%, and BXB easing slightly.

The banking stocks were mostly unchanged, with insurers slipping slightly and the Big Bank Basket closing relatively flat at $283.03 (+0.4%). HUB rallied 4.9% following yesterday’s upgrade. REITs also weakened, with GMG down 2.0%, CHC off 1.7%, and SGP falling 1.9%.

In corporate news, WES pulled the trigger on the expansion of its lithium project. RRL announced that a string of encouraging drill results would lead to further exploration, while LYC flagged increased costs associated with its expansion project in Malaysia.

There was nothing of note in local economic news.

Asian markets were weaker, Nikkei 225 up 0.1%, HK down 1.0% and China unchanged – Korea up 2.6%, well off highs.

US futures weaker – Dow down 40 and Nasdaq down 165. Oil firms. European markets set to fall 0.3%

HIGHLIGHTS

  • Winners: SKC, TCG, IPX, BCI, FML, BRE, KCN
  • Losers: ELS, WBT, LGF, EQR, COH, AXQ, SRL
  • Positive Sectors: Copper. Gold. Oil and gas. Uranium. Banks.
  • Negative Sectors: Tech. Industrials. Healthcare. REITs
  • ASX 200 Hi 8842 Lo 8798
  • Big Bank Basket: Rises to $283.03 (+0.4%)
  • All-Tech Index: Down 1.5%.
  • Gold: Rises to $5907
  • Bitcoin: Rises to US$65945
  • 10-year yields: Steady at 4.97%
  • AUD: Drifts to 69.94
  • Oil up – US Futures down.

MARKET MOVERS

  • SKC +12.2% asset monetisation program.
  • BRE +7.8% Investor presentation.
  • LRV +7.5% nice little bounce.
  • AIS +5.5% Constellation mining lease granted.
  • CXU +15.4% drill program extends mineralisation.
  • CSL -2.8% Morgan Stanley cuts PT to $163.
  • WBT -7.3% air escaping.
  • ELS -10.0% quarterly report.
  • LGF -5.0% NTA
  • AXQ -4.8% volatile little thing.
  • PEN -26.0% Lanced – Operational update
  • SRL -4.4% sinking into the sunset.
  • RPL -3.5% guidance update.
  • Yesterday’s Hero: ION -2.7%
  • Speculative Stock of the Day: MYE +32.4% guidance exceeded.

ECONOMIC AND OTHER NEWS

  • Australia’s property sector is heading into a critical reporting season, with Morgan Stanley warning investors to watch for weaker residential settlements, earnings pressure and balance sheet risks across the REIT sector.
  • Origin Energy (ORG) is investigating a potential security incident which may have led to the unauthorised access of some of its 4.8 million customers’ data.
  • France becomes the first EU nation to ban social media for teenagers.
  • UK inflation comes in at 2.6% M/M as expected.
  • Three Saudi tankers perform a U-Turn as Houthis threaten.
  • Santander confirms guidance.
  • President Donald Trump is poised to impose fresh levies on products from dozens of economies by Friday, according to people familiar with the matter.
  • Trump said generic drugs imported into the U.S. will face zero tariffs for two years from August 1, before a 100% levy takes effect in August 2028 and rises to 200% a year later.
  • The yen slid past 163 per US dollar for the first time since 1986, extending its decline and further testing Japanese authorities’ resolve to intervene.
  • Zelenskyy replaces top Ukraine general after mass protests.
  • Trump vows to attack Iranian nuclear facility as Middle East war escalates.

And finally…

Clarence

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