The ASX 200 gave back 37 points to 8936 (-0.4%) as most sectors slid. Banks were relatively flat with the Big Bank Basket at $282.39 (-0.5%). Other financials lost ground, NWL down 3.2% and HUB continuing to fall off 5.5%. Insurers were under a little pressure, with REITs lower too. GMG slipped 0.4% and ASK fell 6.2% as the bidder pulled out. Industrials slid, WES off 0.8% and TCL down 1.1% as retail weakened, JBH off 1.1% and PMV down 2.3%. WEB fell 5.7% on results, while COL rallied hard, up 8.5% on an earnings beat, with WOW following suit, up 2.5%. REA and CAR slid lower as tech was generally mixed — WTC up 4.5% and XRO again slipping lower, down 1.1%.

In resources, FMG disappointed the market, sliding 3.9% on the lowest dividend in seven years, BHP fell 1.1%, and MIN dropped 5.2% as profit-taking emerged in lithium stocks. Gold miners were mixed, VAU up 5.% and CYL rallying 7.2%. Uranium stocks performed better, with PDN up 6.5% and DYL rising 6.9%. STO also put on 2.1%.

In corporate news, SCG ran 1.5% on solid earnings, VEA fell 1.9% on weak refining margins, and NAN rose 15.1% after a 59% increase in profits. TYR fell 2.5% on NPAT dropping 30%.

In economic news, RBA minutes were released today. The Board acknowledged risks in both directions. Personal insolvencies climbed 7.9% in the June quarter, with 3,179 Australians entering bankruptcy or debt agreements.

Asian markets were mixed — Japan down 1%, HK down 0.3%, and China unchanged.
European markets are opening flat. US Dow futures down 36, Nasdaq down 35

HIGHLIGHTS

  • Winners: KLS, NXL, NAN, CRN, DTR. IDX, HLS
  • Losers: IMD. EQT, REH, RSG, DRR, ASK, WEB
  • Positive Sectors: Gold. Tech. Supermarkets. Uranium.
  • Negative Sectors: Iron ore. Banks. Healthcare. Retail.
  • ASX 200 Hi 8985 Lo 8918.
  • Big Bank Basket: Falls to $282.39 (-0.5%)
  • All-Tech Index: Up 0.1%.
  • Gold: rises to $5211
  • Bitcoin: Falls to US$110350
  • 10-year yield steady at 4.31%.
  • AUD: down to 64.80c.
  • Asian markets: Japan down 1%, HK down 0.3% and China unchanged.
  • US futures – Opening slightly lower. DJ down 15 – Nasdaq down 20
  • European markets set to open down slightly.

MARKET MOVERS

  • KLS +18.1% results.
  • NAN +15.1% better than expected results.
  • JIN +10.3% jackpot helps.
  • BOE +10.5% final loan repaid to BOE.
  • COL +8.5% beats expectations. Premium home brands doing well.
  • DTR +12.8% keeps pushing ahead.
  • PNV +5.4% broker upgrades.
  • OMA +11.3% commercial potential of Canyon Sandstone confirmed.
  • MEI +8.7% rare earth bounce.
  • ACL +6.8% results presentation.
  • IMD -14.0% broker downgrades.
  • EQT -13.5% ASIC filing.
  • ASK -6.2% bidder pulls out.
  • MAD -4.6% results.
  • IMB -12.7% results.
  • KLR -34.2% psycho killer! ASX letter.
  • Speculative Stock of the Day: GML +60.7% reinstated to quotation. Substantial shear zones identified at Yandal Gold Project

ECONOMIC AND OTHER NEWS

  • RBA Minutes – Key Takeaways. RBA Cuts Again but Keeps Its Powder Dry💸
    Another 25bps rate cut lands, with more likely ahead — but no rush. Markets are flying, risks are lurking, inflation’s cooling, housing’s heating up, and China’s stimulus is keeping Asia steady.     Thanks Dragon. The full minutes are here.
  • https://www.rba.gov.au/monetary-policy/rba-board-minutes/2025/2025-08-12.html
  • Personal insolvencies climbed 7.9 per cent in the June quarter, with 3179 Australians entering bankruptcy or debt agreements as financial pressures continued to mount, according to the Australian Financial Security Authority.
  • President Trump has moved to dismiss Lisa Cook from the Fed board. She is digging in and will not go. Cook says he has no authority to sack her. He has also vowed new ‘substantial’ tariffs on countries that impose digital taxes and are ‘unfair’ to American tech behemoths.
  • Trump also warns of 200% tariffs on China if rare earth exports are curbed, as China tightens export rules.
  • Australia Post has suspended its parcel service to the US as the De Minimis changes come into force. Many other countries have done the same.
  • Nissan Motor shares tumbled on Tuesday after Mercedes-Benz announced plans to offload its 3.8% holding in the Japanese automaker.
  • Musk’s xAI sues Apple and OpenAI over ChatGPT and iPhone integration.
  • China is sending a key trade negotiator to the US. Vice Commerce Minister Li Chenggang will meet with US Trade Representative Jamieson Greer and Treasury Department officials this week.

And finally….

To the mathematicians who thought of the idea of zero, thanks for nothing!

I switched all the labels on my wife’s spice rack.

I’m not in trouble yet, but the thyme is cumin.

Clarence

XXX