Monday 27th July – ASX 200 soars 122pts- Banks and Resources fire – US Futures jump – Ceasefire?

27 Monday Jul 2026

Posted by in Daily Reports

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The ASX 200 started the week on a strong note, up 122 points to 8,894 +1.4%), as most sectors of the market rallied hard, with the exception of oil and gas, as Trump’s threat of a massive attack on Iran was wound back and US futures rallied. The banking sector was once again solid, with CBA up 1.2% and ANZ up 1.2%, with the Big Bank Basket at $291.58 (+1.2%). MQG also rallied again, and other financials were back in the green. Insurers also rose, led by QBE up 1.4%. The REIT sector was also good today, led by GMG up 3.2% and CHC up 2.8%. Industrials too had a significantly better day, with the tech sector firing for a change: XRO up 6.0% and WTC up 7.0%, with TNE rallying too, along with REA, CAR and SEK.  TLS had a good day. QAN brushed off the latest Alan Joyce novel and rose 3.6% on lower oil prices. Meanwhile, resources had a solid day: BHP up 2.1%, RIO up 2.2%, and the gold miners also doing well today. We had some corporate action with EVN bidding for CNB in a script bid. VAU also had a good day, together with CMM, on a resource upgrade. Even the lithium stocks chimed in today, with LTR up 3.4% and PLS up 2.7%. Meanwhile, oil and gas stocks WDS and STO fell around 3%, and uranium and coal stocks also a little bit easier.

In corporate news, MYR fell 12.0% after it said a sharp slowdown in consumer spending late in the financial year weighed on margins. PPT had another bid from EQT of $22.50, and EVN bid for CNB. Nothing today on the economic front as we await the CPI on Wednesday.

Asian markets were mixed, Nikkei 225 up 0.3%, HK up 0.8% and China 0.3% – Korea up 0.8%. US futures up 400 for Dow 414 for Nasdaq.

HIGHLIGHTS

  • Winners: CNB, LIN, WEB, BGL, EOS, MLX, PDI, WTC
  • Losers: KAR, NIC, SKS, CU6, AEL, YAL, PNV
  • Positive Sectors: Everything really.
  • Negative Sectors: Oil and gas. Coal.
  • ASX 200 Hi 8893 Lo 8838
  • Big Bank Basket: Rises to $291.58 (+1.2%)
  • All-Tech Index: Up 3.2%.
  • Gold: Rallies to $5844
  • Bitcoin: Steady at US$65376
  • 10-year yields: Lower at 5.00%
  • AUD: Steady at 70.03c
  • Oil down 6.1% – US Futures very firm.

MARKET MOVERS

  • LIN +17.4%
  • CMM +15.1% Group 0re update.
  • EOS +8.4% upgrades guidance.
  • MLX +7.9% quarterly report.
  • ZIP +4.8% solid bounce.
  • SPK +5.2% strategic review of Digital Services.
  • KAR -7.8% crude prices fall.
  • NIC -7.2% Results this week.
  • AXQ -4.2% falls again.
  • SKS -5.7% run unwinds.
  • LOT -43.2% capital raise at big discount.
  • MYR -12.0% margins under pressure.
  • EBR -18.3% responds to speculation re WISE devices.
  • Yesterday’s Hero: UM1 +6.9% Kicks again.
  • Speculative Stock of the Day: CNB +57.3% scrip bid from EVN.

ECONOMIC AND OTHER NEWS

  • Speculation that Tokio Marine is eyeing IAG and SUN as acquisition targets.
  • Chinese chip champion CXMT soars more than 500% in market debut.
  • China’s industrial profits rose 15.1% in June from a year earlier, slowing for a second straight month.
  • Focus shifting to Communist Party’s Politburo meeting, traditionally held in late July.
  • Shein slumps to loss ahead of planned Hong Kong listing.
  • AI companies spend record sums on Washington lobbying.
  • European start-up with SpaceX ambitions aims for a $2bn valuation.
  • Ukraine attacks Iranian ship in the Caspian Sea.
  • Andy ‘Capp’ Burnham will meet Volodymyr Zelenskyy in the UK on Monday.
  • The UK announced it would share with Ukraine the intellectual property for its so-called “Stone Cloak” — a tablet-sized device that blocks Russian air defence systems from tracking and targeting drones.

And finally….

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