Friday 7th August – ASX 200 down 8 – Up 3.2% for the week – Banks slip – Resources rise – NFP tonight.

07 Friday Aug 2026

Posted by in Daily Reports

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The ASX 200 clawed back early losses to close down 8 on the day at 9,264 points (0.1%). Up 3.2% for the week. It was a mixed picture across the market as investors waited for the US non-farm payrolls (NFP) report tonight and watched for further developments in the Middle East.

The banks slipped back, with CBA down 1.0% and WBC down 1.6%, while MQG also eased after recently hitting record highs, falling 1.1%. The Big Bank Basket fell 1.1% to $295.90. Financials were generally softer, with the sector under pressure and ZIP also slipping 3.4% following XYZ’s results. REITs were mixed, with GMG down 1.0%, but CHC up 0.76%. Industrials were largely flat, with SGH down 1.25% and QAN down 1.12%, while the retail sector barely moved. Healthcare stocks took a breather, with RMD falling 8.3% on concerns around margins and inflation pressures. Technology stocks had a better session, with WTC up 4.3% and XRO up 1.5%, possibly receiving support from the 32% climb in Atlassian after its results were released after hours.

Resources were once again the place to be, although the iron ore names were mixed. RIO gained 0.8%, while FMG slipped 2.3%. Lithium stocks, which have been heavily sold off for some time, finally found some buyers, with PLS rallying 6.5% and LTR also pushing higher by 9.3%. Gold miners were slightly firmer, with NST up 2.3% and NEM up 2.7%, while oil and gas stocks continued to perform well. Coal stocks also improved, alongside uranium names. PDN rose 3.3%, while NXG also enjoyed a better session, gaining 2.2%.

In corporate news, JHX added 5.8% following an increase in quarterly income, while NCK slipped 0.7% despite UK operations helping support its results. AQZ returned from a trading halt and rose 6.1% after providing clarification around the Qantas transaction. There was little locally on the economic front, although investors digested the latest Chinese export and import data.

Asian markets were mixed, with the Nikkei 225 down 0.2%, Hong Kong up 0.4%, China up 1.3%, and Korea off 0.6%. US futures were mixed with the Dow down 67 points and the Nasdaq up 72. US non-farm payrolls in focus.

HIGHLIGHTS

  • Winners: NMG, LTR, C79, AXQ, TLX, AUC, AMI
  • Losers: 4DX, RMD, EIQ, MEI, EQR, DRO, PYC
  • Positive Sectors: Lithium. Gold. Uranium. Tech.
  • Negative Sectors: Banks. Healthcare. Industrials.
  • ASX 200 Hi 9275 Lo 9217 – Closes close to record high. Up 3.1% this week.
  • Big Bank Basket: Rallies to $295.90 (-1.1%)
  • All-Tech Index: Down 0.2%
  • Gold: Higher at $6101
  • Bitcoin: Steady at US$64329
  • 10-year yields: Rises to 5.01%
  • Oil up 1.3% Gold up 0.2%
  • AUD: Eases to 70.33c
  • Dow down 94 points and the Nasdaq up 49.

MARKET MOVERS

  • NMG +9.8% bullion bounce.
  • LTR +9.3% PLS +6.5% lithium not so depressed.
  • AXQ +8.4% solid bounce. Annoying!
  • AMP +4.8% kicks on broker upgrades.
  • TLX +7.7% rising again.
  • NEU +5.4% solid day.
  • AVH +20.3% quarterly report.
  • PMT +8.1% lithium positivity.
  • AR1 +5.9% QIC invests to advance Rocklands.
  • RMD -8.3% margins and inflation concerns.
  • 4DX -9.1% profit taking.
  • DRO -4.4% consolidation.
  • RPL -3.5% under pressure.
  • XYZ -4.0% guidance underwhelms.
  • MEI -4.8% profit taking.
  • WAA -8.7% Investment update.
  • DXB -5.2% profit taking.
  • Yesterday’s Hero: SMM -7.7%
  • Speculative Stock of the Day: AT4 +24.0% recent presentation.  

ECONOMIC AND OTHER NEWS

  • NFP tonight 80k and 4.2% headline unemployment.
  • Chinese exports grew 23.9% in U.S. dollar terms in July from a year earlier, topping a forecast for a 22.2% growth. Imports rose 27.5% last month, just shy of Reuters estimates of 27.9%, slowing from June. The trade surplus came in at $112.5bn, exceeding expectations while narrowing from the monthly figure in June.
  • Iran’s chief negotiator accuses Trump of ‘theatre diplomacy’ with Hormuz traffic near standstill.
  • Google shifts AI power back to Brin as DeepMind’s Hassabis steps aside.
  • US court tells Meta to pay nearly $1bn penalty over social media harm to children.
  • The yen is heading into the end of the week having surrendered nearly half of its intervention-driven gains. More intervention required?
  • Starlink mobile threat has been exaggerated, says T-Mobile CEO.
  • Rome airport aims to expand before 2033 anniversary of Christ’s death.
  • US regulator tells airlines to check Boeing 737 Max planes for cracks.
  • China’s crude oil imports rebounded last month from a near-decade low, after flows through the Strait of Hormuz picked up and refiners boosted purchases from nations outside the Middle East including Russia.

And finally….

Clarence

XXXXX

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