Wednesday 10th June – ASX 200 up 49 – Industrials, healthcare and defensive rally – Gold miners slump – US futures down slightly.

10 Wednesday Jun 2026

Posted by in Daily Reports

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The ASX 200 showed solid gains to finish up 49 points at 8,653. Once again, it was the tale of two cities, with the best of times and the worst of times. The banks held steady, with CBA down 0.2%, and WBC doing well, up 2.0%. Insurers also pushed higher, led by QBE up 2.4%, and even ASX up 0.6%, with the Big Bank Basket at $266.54. Elsewhere, industrials were once again stronger, with defensive stocks taking the bull by the horns. WES rose 4.3%, TLS rose 2.0%, and both the supermarket stocks WOW and COL did very well, building on recent gains in the healthcare space. CSL was also strong as it looks to have turned the corner, up 3.5%, with SHL also firm, although SIG fell 5.5% on the back of media speculation that it was looking at buying the Boots chemist chain in the UK. REITs were positive, with GMG up 1.6%, CHC up 1.8%, and other industrials faring okay. Retail also had a good bounce, with JBH up 3.5% and ALL up 2.2%. Technology stocks were still very much in the doghouse, with XRO down 2.0%, TNE down 2.3%, and NXT down 4.1%. Utilities firmed in this environment, and the All-Tech Index fell 1.8%.

Meanwhile, resources were once again on the nose, with BHP up 0.2%, and RIO and FMG also falling as iron ore came under pressure. Lithium stocks fell, PLS down 1.7%, and LTR falling a big 8.0%, with MIN also suffering heavy losses. The gold sector was also slammed again as the gold price fell out of bed, with NST down 3.5%, EVN falling 5.0%, and RMS also having a bad day, down 3.8%. Over in the energy space, Woodside slipped slightly, and Santos pushed ahead somewhat, with coal stocks under pressure, WHC down 4.4%, and uranium stocks still on the nose.

In corporate news, SDF rose 36.2% after receiving a $6.00 non-binding indicative offer. IGO fell hard after a fire broke out at the Chemical Grade Plant 3 facility at Greenbushes. WES had a good investor day reaction, saying it would drive growth through AI and data monetisation. Citi downgraded banks following the budget changes. In economic news, the ANZ-Roy Morgan consumer confidence rose for the second consecutive week, lifting two points to 70.8.

Asian markets weaker. Japan down 1.9% Hong Kong down 0.9%, and China down 1.1%. South Korea falls again.

US futures: Dow down 78 and Nasdaq down 132. Oil down 1.5%. Europe opening easier.

HIGHLIGHTS

  • Winners: SDF. AUB, REH, NCK, SRL, IEL, AGI
  • Losers: BC8, SLX, OBM, WBT, 4DX, EQR, EOS, LTR
  • Positive Sectors: Banks. Healthcare. Insurers. Supermarkets. Utilities. REITs.
  • Negative Sectors: Gold miners. Tech. Coal.
  • ASX 200 Hi 8670 Lo 8586
  • Big Bank Basket: Higher at $266.54 (+0.4%)
  • All-Tech Index: Down 1.8%
  • Gold: Drops to $5983
  • Bitcoin: Falls to US$61238
  • 10-year yields: Falls to 4.89%
  • AUD: Lower at 70.20c.

MARKET MOVERS

  • SDF +36.2% NBIO at 600c.
  • REH +8.6% no reason.
  • AUB +9.8% rises in sympathy with SDF.
  • EDV +5.4% unquoted securities.
  • SRL +6.3% quotation of securities.
  • WES +4.3% investor day.
  • JBH +3.5% rates on hold?
  • KMD +14.8% PE Interest.
  • UNI +7.6% good retail exposure.
  • WJL +5.3% buyback update.
  • CGS +7.7% investor insights.
  • DTR -6.9% sell off continues
  • WBT -9.4% chip sell-down.
  • SLX -10.0% uranium sell-down.
  • CAT -7.7% LW article.
  • TM1 -17.7% High grade PGM Cu-Ni from drill results.
  • Yesterday’s Hero: T3D -18.5%
  • Speculative Stock of the Day: BST +60% IPO – Drone player.

ECONOMIC AND OTHER NEWS

  • Australian consumer confidence rose for a second consecutive week, lifting 2.0 points to 70.8, according to the ANZ-Roy Morgan survey for the week to June 10.
  • China May wholesale inflation hits near 4-year high. The producer price index jumped 3.9% from a year ago, the highest since July 2022.
  • Chinese consumer prices rose 1.2% in May from a year earlier, missing economists’ estimates of 1.3% growth.
  • A Florida trading company is in advanced talks to send Cuba the biggest cargo of US fuel since the Eisenhower administration as the island nation contends with an acute energy crisis.
  • Taiwan’s opposition leader tells US and China not to use her country as ‘pawn’.
  • Democrat Graham Platner wins Maine US Senate primary.
  • GM bets on homegrown battery tech to challenge Chinese dominance.
  • Mercedes set to partner with drone defence start-up Tytan.
  • US CPI tonight.

And finally….

Clarence

XXXX

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