The ASX 200 closed unchanged on futures expiry day at 8841, after an afternoon rally in the banks gathered pace, with CBA up 1.8% and NAB gaining 1.3%. The Big Bank Basket continued its recent run higher to $285.73. Financials were generally firmer, with SOL up 3.3% and GQG gaining 1.1%. REITs also pushed higher, led by SCG up 0.5% and SGP rising 2.0%. Industrials and technology stocks found buyers, with WES up 1.2% and ALL gaining 0.3%, while retailers edged higher as JBH rose 1.8%. Healthcare stocks also regained some poise, with CSL and RMD both moving higher. In the technology sector, buying returned to XRO and WTC, while REA had a strong session, up 6.6%, after reporting growth in listings. That helped lift CAR and SEK as well.

Resources, however, were once again out of favour. BHP‘s quarterly failed to excite the bulls, with the stock down 2.3%. RIO also slipped, while FMG fell 1.1%. Lithium stocks remained under pressure, with PLS falling sharply and LTR following suit. Gold miners were mixed, with NST down 0.1% while GMD gained 1.5%. Oil and gas stocks eased as crude prices slipped, with WDS down 1.5%, while coal and uranium stocks also drifted lower.

In corporate news, NWL reported record funds under administration (FUA). PPT announced it had received an improved takeover proposal from EQT, TNE maintained its FY26 guidance, and OBM warned of lower gold production in FY27 alongside higher all-in sustaining costs (AISC). On the economic front, Korean stocks were volatile again after the BoK raised rates.

Asian markets were weaker, Japan down 3%, HK up 2.1% and China flat Kospi down 6%.

US futures mixed – Dow up 45 and Nasdaq up 1. Oil off 0.5%. European markets set to rise a little.

HIGHLIGHTS

  • Winners: AMP, REA, MSB, OCL, 360, BNZ
  • Losers: A1M, DTR, EOS, EQR, LTR, WBT, WC8
  • Positive Sectors: Banks. Healthcare. Retail. ‘Old Skool’ Platforms.
  • Negative Sectors: Iron ore. Lithium. Gold miners. Oil and gas.
  • ASX 200 Hi 8856 Lo 8808 – Futures and Options Expiry Day
  • Big Bank Basket: Rises to $285.73(%)
  • All-Tech Index: Up 0.6%.
  • Gold: Falls to $5761
  • Bitcoin: Steady at US$64,862
  • 10-year yields: Steady at 4.88%
  • AUD: Steady at 69.96c
  • Oil down. US Futures flat.  

MARKET MOVERS

  • MSB +7.0% momentum play.
  • AMP +9.8% NPAT expected $170-180m
  • 360 +5.0% SEC Form 4
  • BNZ +5.8% doing well again.
  • BVS +2.4% momentum continues.
  • REA +6.6% listings growth.
  • A1M -17.8% quarterly disappoints.
  • DTR -9.4% backing and filling.
  • EOS -7.8% war seems bad news.
  • LRV -6.5% sliding lower.
  • AD8 -6.8% bears back.
  • PMT -6.9% lithium woes.
  • MEI -2.9% Caldeira Rare earth ore reserve grows.
  • Speculative Stock of the Day – JNS +90.3% more US truck conversion orders.

ECONOMIC AND OTHER NEWS

  • UK GDP smack in line. Mixed picture.
  • US earnings and retail sales numbers from the US.
  • TSMC Q2 profit jumps 23% – beats estimates.
  • US will not win Iran war from the air, Trump’s ex-defence chief warns.
  • Trump contemplating ‘boots on the ground’.
  • US troops to get testosterone treatment to make them strong.
  • SK Hynix plunge over 11%. Samsung Electronics dropped more than 7%.
  • South Korea’s central bank (BoK) raised interest rates for the first time in more than three years and flagged the possibility of further increases.
  • US slaps 25% tariffs on most Brazilian goods over ‘unfair practices’.
  • Warren Buffett “It’s tough to find values when everybody is preferring gambling,”
  • The Chinese ‘Temu’ Range Rover is the UK’s best-selling car! The Jaeco 7.
  • Chinese brands now hold about one-fifth of Europe’s second-largest car market.
  • Andy ‘Cap’ Burnham takes over as UK PM on Monday.

And finally….

Clarence

XXXXX