Tuesday 7th July – ASX 200 drops 27 – Banks shone – Resources fade – WTC up on White news – US Futures fall – Samsung drops

07 Tuesday Jul 2026

Posted by in Daily Reports

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The ASX 200 fell 27 points to 8,804 (0.3%) as resources came under significant pressure following renewed kinetic action in the Gulf. Gold miners eased and the broader resources sector was weak.

The big miners struggled, with BHP down1.9% and RIO falling 1.8%. Lithium stocks were well and truly under pressure, with PLS down 5.5%, MIN off 5.6% and even LYC slipping 6.4%. Gold miners also lost ground as the bullion price eased back, with NST down 5.1% and EVN falling 5.3%. The nascent gold rally appears to have been snuffed out before it really got going. Elsewhere in resources, oil and gas stocks weakened, with WDS down 0.5% and STO off 1.5%, while coal stocks also drifted lower. Uranium names were under pressure too, with PDN down 4.1% and DYL off 6.9%.

The banking sector was firmer, with CBA up 1.2%, while NAB and the other major banks also edged higher. The Big Bank Basket rose to $277.49 (1.4%) Financials generally performed well, with MQG up 1.0%, and insurers back in the green. REITs, however, lost ground, with SGP down 2.8% and GMG falling 0.7%.

Healthcare continued to outperform, with SHL up 1.5% and RMD extending its recent rally. Technology was the standout sector today after WTC announced board changes, sending the shares up 5.7%. XRO followed suit, while REA and CAR also posted gains. The All-Tech Index rose 1.2%.

In corporate news, NXL signed a new NRL contract. NWL enjoyed a strong session after upgrading forecasts for funds under administration, while LYC announced a $50minvestment in a Malaysian permanent magnet facility.

On the economic front, ANZ Roy Morgan Consumer Confidence numbers fell again by 1.2pts to 74.7pts.

Across Asia, all eyes were on Samsung after the shares fell heavily despite reporting a strong set of numbers. Although profits surged nineteen-fold, the result only narrowly beat analyst expectations.

Asian markets were weaker. The Nikkei 225 fell 1.8%, Hong Kong fell 0.5%, China fell 0.8%, while the Kospi dropped 6.0% on Samsung results. European futures slightly negative.

US futures were mixed, with the Dow up 4 and Nasdaq down 277. SpaceX joins the Nasdaq today. Oil up 1.2%.

HIGHLIGHTS

  • Winners: CAT, NWL, WTC, VGN, GNP, NUF, NXT
  • Losers: PDI, FRS, CU6, BOE, LTR, MMI
  • Positive Sectors: Healthcare. Tech. Banks.
  • Negative Sectors: Gold miners. Lithium. Coal. Iron ore.
  • ASX 200 Hi 8843 Lo 8787
  • Big Bank Basket: Rallies to $277.49 (+1.4%)
  • All-Tech Index: Up 1.2%.
  • Gold: Lower at $5943
  • Bitcoin: Higher at US$63193
  • 10-year yields: Steady at 4.82%
  • AUD: Drifts to 69.40c
  • Oil up 1.2% as Qatari ship struck in the Gulf.

MARKET MOVERS

  • CAT +8.1% tech bounce. Dead one?
  • NWL +6.7% upgrade to FUA outlook.
  • WTC +5.7% Richard White steps back.
  • NXT +3.6% tech bounce.
  • ILA +26.7% Gaidesivir approved for use in Ebola.
  • GEM +6.9% Extension of debt facility.
  • PDI -12.0% gold miners under pressure.
  • CU6 -9.1% ceasing to be a substantial holder.
  • HCH -15.5% presentation.
  • LTR -7.6% lithium depressed again.
  • EIQ -6.1% cleansing notice.
  • MMI -7.2% operational update.
  • FRS -10% change in substantial holding.
  • Speculative Stock of the Day: RGT +106% executes a global CannEpil licencing deal worth US$5.5m.

ECONOMIC AND OTHER NEWS

  • Belgium coasted past USA in World Cup. Even Trump couldn’t reverse that.
  • HSBC pulls back from riskier private credit lending.
  • EU to delay pre-authorised travel system after border chaos.
  • Samsung shares tumble 10% despite record quarterly profit from AI boom.
  • Canada chooses Germany’s TKMS for landmark submarine contract.
  • Donald Trump heading to Turkey for NATO summit.
  • U.S. companies are increasingly using Chinese-built models as they build out tools and products using AI.
  • SpaceX joins Nasdaq today.

And finally….

Clarence

XXXX

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