The ASX 200 dropped 42 points to 9073 (-0.5%) as once again, the banking sector disappointed, with NAB‘s results pointing to challenges ahead. The stock fell 4.6%, while ANZ gave back some of last week’s gains, falling 2.6%. The Big Bank Basket was down to $277.41 (-1.8%). Financials were generally weaker, with SOL down 1.9%, MQG down 0.5%, and ASX giving back some recent gains. Insurers also slipped, with QBE down1.8% and SUN down 5.1%. REITs came under pressure as bond yields rose, with SCG down 0.8% and SGP down 3.0%.

Industrials were generally weaker, with the retail sector leading the market lower. JBH fell 12.3% following underwhelming results, while WES lost 4.4% and HVN also fell 4.6%. Technology stocks were mixed, with WTC down 2.6%, while XRO managed to rise 0.8%. We also saw some profit-taking in healthcare, with CSL down 1.4% and RMD falling 1.3%.

Holding the market together was the resource sector, with BHP rallying 1.4% ahead of tomorrow’s results. The gold sector also performed well as bullion held onto its recent gains, with EVN up 5.2% and NST gaining 3.0%. BSL slipped slightly following its results, while the lithium sector was better again, with PLS the standout, up 4.5%.

Oil and gas stocks also edged higher, while buyers returned once again to the uranium sector, with PDN up 4.2%.

In corporate news, IRE failed to impress despite a lift to profits. Falling 11.6%. AD8 had a great day, up 11.0%, after revealing an underlying loss, with LLC falling 11.2% as it swung to a net loss of $749m in 2026. In economic news, Japanese second-quarter GDP grew 1.1% on an annualised basis.  

Asian markets were mixed, with Japan up 0.5%, Hong Kong up 1.8%, China up 1.2%, and Korea closed US futures were narrowly mixed, with the Dow down 28 points and the Nasdaq up 137. European markets poised to open higher. UK jobs and inflation ahead.

HIGHLIGHTS

  • Winners: MSB, IPX, RXL, L1G, GNG, AXQ, PDI
  • Losers: JBH, IRE, LLC, AZJ, SUL, SUN, TVN
  • Positive Sectors: Iron ore. Gold miners. Lithium. Uranium.
  • Negative Sectors: Banks. REITs. Industrials. Retail.
  • ASX 200 Hi 9112 Lo 9065 Down 1.6% this week
  • Big Bank Basket: Falls to $277.41 (-1.8%)
  • All-Tech Index: down 0.6%
  • Gold: Higher at $6180
  • Bitcoin: Steady at US$63459
  • 10-year yields: Higher at 5.05%
  • AUD: Higher at 71.14c
  • Oil close to $90 in Brent. European futures firmer.

MARKET MOVERS

  • AXQ +6.5% tech bounce.
  • MSB +10.9% solid on trial results.
  • L1G +7.2% good results.
  • EOS +5.7% heading higher again.
  • GNG +7.0% EPC Contract.
  • SDF +5.6% DD progresses.
  • NMG +5.2% bullion buoyant.
  • IPG +4.9% run continues.
  • ACL +14.9% results.
  • SM1 +16.1% ELT update.
  • IRE -11.6% results underwhelm.
  • JBH -12.3% softer months.
  • LLC -11.2% results underwhelm.
  • TVN -5.9% community forums in East Kimberley.
  • NAB -4.6% challenges ahead.
  • AZJ -10.3% Results.
  • SUN -5.1% ex dividend.
  • A2M -3.3% results sour outlook.
  • CAT -3.5% bounce over.
  • DTR -8.3% selling kicks back in.
  • AT4 -11.0% profit taking.
  • Yesterday’s Hero: None.
  • Speculative Stock of the Day: Nothing on any volume.

ECONOMIC AND OTHER NEWS

  • US – Iran MOU expires today.
  • U.S. Central Command chief Adm. Brad Cooper acknowledged mental health challenges aboard the USS Abraham Lincoln.
  • South Korea closed today.
  • Japan second-quarter GDP grows 1.1% on an annualised basis, missing expectations.
  • On a year-on-year basis, the country’s economy expanded 0.7%, up from 0.5% in the first quarter.
  • Japan’s 10-year bond yield hits three-decade high.
  • Private credit under strain as troubled loans swell.
  • Far-right Israeli minister advocates killing ‘30 to 40’ Gazans each night.
  • Trump says US will scale back military drills with South Korea.

And finally…

My dog swallowed up my entire bag of Scrabble tiles,
so I took him to Vet to get him checked out.
No word yet.

Clarenmce

XXX