ASX 200 marched 28 points higher to 8561 (0.3%). After a tepid start, US futures kicked higher on trade deal hopes, dragging the ASX with it. Small closing sell-off from highs. Banks steady after early losses, the basket down to $287.13 (0.2%). MQG up 3.9% on a broker upgrade, financials and insurers better too. NWL up 2.4% and IAG rising 1.7%. Healthcare got a kick, CSL up 2.2% and PME rallying 1.6%. Industrials generally firmed, WES up 0.7% and ALL rallying 1.3% with QAN up 1.8%. VGN dropped 2.8%. Retail stocks higher with JBH up 1.6% on EOFY activity. Tech firmed, WTC up % and TNE rising 1.2% as the ALL–Tech Index rose 0.7%. Resources were mired in losses for iron ore miners, BHP, RIO both copping a 1.5%+ loss. Rare earths eased and lithium off too with MIN up 1.6% on sale of its Yilgarn hub. Oil and gas stocks flat with KAR up 1.1% with coal stocks flat and uranium mixed. DYL fell 5.7% with PDN up 0.8%.

In corporate news, JHX rose 7.1% after the Azek vote. DRO fell 4.2% after early gains on a Latam order. Nothing locally on the economic front, China’s factory activity improved for a second month but remained in contraction.

HIGHLIGHTS

  • Winners: NHF, JHX, A4N, MAH, EOS, GNG, XYZ
  • Losers: CHN, OPH, DYL, VUL, RSG, ABG, MLX, DRO
  • Positive Sectors: Healthcare. Retail. Industrials.
  • Negative Sectors: Iron ore. Rare earths.
  • ASX 200 Hi 8577 Lo 8520. EOFY window dressing?
  • Big Bank Basket: Lower at $287.13 (-0.1%).
  • All-Tech Index: Up 0.7%
  • Gold: Falls to $5024
  • Bitcoin: Rises to US$108419
  • 10-year yield rises to 4.16%.
  • AUD: rises to 65.59c.
  • Asian markets: Japan up 0.6%, HK off 0.3% and China up 0.3%.
  • Dow futures up 300, and Nasdaq futures up 144. Voting on Big Beautiful Bill continues.
  • European markets set to open up very slightly. Inflation numbers in focus.

MARKET MOVERS

  • NHF +9.4% broker upgrade.
  • JHX +7.1% US listing vote.
  • EOS +5.2% trading update.
  • A4N +6.2% unquoted securities notice.
  • ADT +2.9% Change of director’s interest.
  • GNP +4.2% Western Power order.
  • MTM +25.4% GM presentation.
  • AII +13.7% cleansing statement.
  • CHN -6.7% platinum falls.
  • DRO -4.2% Latam order.
  • LYC -3.0% broker downgrade.
  • SRL -18.7% completes SPP.
  • SGR -6.9% update on Brisbane sale.
  • IPO of the Day – TTX +4.9% biotech.
  • Speculative Stock of the Day: LSR +83.3% Capital raising.

ECONOMIC AND OTHER NEWS

  • Canada caves in to Trump’s demands on digital tax. Pressure builds on Albo.
  • The Chinese official purchasing managers’ index (PMI) improved slightly to 49.7 in June but stayed below the benchmark that separates growth from expansion.
  • The non-manufacturing PMI, which includes services and construction, rose to 50.5 from 50.3 in May.
  • US shoppers ditch Shein and Temu as Trump closes tax loophole.
  • European ports ‘overflowing’ as Trump tariffs cause congestion.
  • Klarna accelerates shift to digital bank ahead of second IPO attempt.
  • Temperatures reach dangerous highs as ‘heat domes’ hit Europe and US.

And finally…….

Clarence

XXXX