ASX 200 Live Today - Tuesday, 13th May
The S&P/ASX 200 will open sharply higher on Tuesday after a major de-escalation in US-China trade tensions. Here are today's top stories.
Today’s ASX 200 Updates
Welcome to our live ASX coverage for Tuesday, May 13. We’re excited to be trialing this new format. Be sure to refresh manually for the latest updates — and let us know how we can make it even better.
ASX 200 closes near three-month high
[4:15 pm] The S&P/ASX 200 closed up 0.43%, a notable retreat from its session high of 0.98%. Market breadth was mixed, with only 58% (117) of constituents ending in positive territory, signaling a shift in capital toward 'risk on' assets and profit-taking in defensive stocks that had recently outperformed. Key decliners in an otherwise solid session included Coles (-3.5%), Woolworths (-3.5%), Vicinity Centre (-3.3%), Telstra (-2.6%), ANZ (-1.9%), and CBA (-0.5%). Despite the day's gain, the index, up 12.6% since its April 7 low, is showing signs of struggling to maintain upward momentum.
Signing off – Have a good evening everyone!
ASX 200 continues to fade
[2:40 pm] The S&P/ASX 200 opened strongly but has steadily lost momentum throughout the trading session, trending lower as the day progressed. Below are the key price levels recorded today:
10:15 am: +0.93% (8,314 pts)
11:21 am: +0.42% (8,271 pts)
12:19 pm: +0.72% (8,297 pts)
2:40 pm: +0.35% (8,262 pts)
All-in-all, the market has largely trended lower after a strong open.
The S&P/ASX 200 Tech Index has outperformed, rising 3.2% but pulling back from an earlier high of 4.5%. In contrast, defensive sectors have weakened, with the S&P/ASX 200 Consumer Staples Index opening 0.2% lower and deepening to a 2.7% decline at the time of writing. This price action reflects a combination of profit-taking and a broader investor shift from defensive to growth-oriented sectors.
Stocks moving on unusual volume
[1:30 pm] These are the S&P/ASX 200 stocks experiencing unusual volume, as a % of their 20-day average volumes.
Ticker | Company | % Chg | Relative volume |
|---|---|---|---|
360 | Life360 | 14.07% | 184% |
BRG | Breville Group | 8.48% | 183% |
OBM | Ora Banda Mining | -10.00% | 166% |
GMD | Genesis Minerals | -10.95% | 158% |
MND | Monadelphous Group | 3.00% | 157% |
RMS | Ramelius Resources | -11.25% | 153% |
NEM | Newmont Corporation | -3.35% | 152% |
SPR | Spartan Resources | -9.67% | 150% |
PNI | Pinnacle Investment Management | 7.51% | 141% |
FLT | Flight Centre | 5.59% | 127% |
CMM | Capricorn Metals | -12.90% | 127% |
AFI | Australian Foundation Investment | 0.14% | 122% |
MP1 | Megaport | 5.28% | 122% |
PRU | Perseus Mining | -9.55% | 120% |
ZIP | Zip Co | 14.25% | 119% |
AAI | Alcoa Corp | 7.87% | 113% |
WBC | Westpac | 1.75% | 107% |
HMC | HMC Capital | 5.11% | 107% |
LOV | Lovisa | 4.38% | 103% |
MIN | Mineral Resources | 11.35% | 103% |
PPT | Perpetual | 6.51% | 102% |
ARG | Argo Investments | 0.68% | 100% |
Australian consumer sentiment remains fragile
[12:45 pm • Westpac Economics] The Westpac–Melbourne Institute Consumer Sentiment Index rose 2.2% to 92.1 in May from 90.1 in April. Here are some of the key takeaways from the report.
Index Performance:
Consumer Sentiment Index increased 2.2% to 92.1 in May from 90.1 in April.
Index rebounded 6% from April’s post-tariff low of 86.6.
Sentiment remains 3.9% below March, staying firmly pessimistic.
Sub-Index Movements:
Four of five sub-indexes improved but all lag behind March levels.
‘Family finances vs a year ago’ surged 7% to 75.1, recovering most of April’s 8.5% drop.
‘Family finances, next 12 months’ dipped 0.8% to 100.7, barely optimistic.
‘Economic outlook, next 12 months’ rose 2.8% to 93, offsetting nearly half of April’s fall.
‘Economic outlook, next 5 years’ edged up 0.2% to 98.6.
‘Time to buy a major household item’ climbed 3.5% to 93.2 but fell 4% over two months.
Key Drivers:
S&P/ASX200 gained 7.4% between surveys, lifting sentiment, especially for over-55s.
Petrol prices fell 13¢ to $1.54/litre, boosting renters and young adults.
Federal election result slightly improved sentiment, with early-week survey gains.
Source: Westpac Economics
Top gainers and losers at noon
[12:30 pm] Here are the S&P/ASX 200 stocks making the biggest gains and declines as at 12:30 pm. All of the top decliners remain gold miners, most of which have declined a further 1-2% since open.
Ticker | Company | % Chg | Price |
|---|---|---|---|
360 | Life360 | 14.30% | $27.26 |
ZIP | Zip Co | 13.70% | $2.08 |
CTD | Corporate Travel Management | 10.69% | $13.36 |
MIN | Mineral Resources | 10.57% | $25.22 |
BRG | Breville Group | 8.52% | $33.00 |
AAI | Alcoa Corporation | 8.23% | $44.31 |
PNI | Pinnacle Investment Management | 7.43% | $20.96 |
XYZ | Block | 7.07% | $85.87 |
WTC | Wisetech Global | 6.41% | $103.94 |
PLS | Pilbara Minerals | 5.95% | $1.64 |
Ticker | Company | % Chg | Price |
|---|---|---|---|
CMM | Capricorn Metals | -12.05% | $8.29 |
GMD | Genesis Minerals | -9.85% | $3.71 |
RMS | Ramelius Resources | -9.59% | $2.45 |
RRL | Regis Resources | -9.53% | $4.23 |
OBM | Ora Banda Mining | -9.52% | $0.95 |
SPR | Spartan Resources | -8.33% | $1.93 |
PRU | Perseus Mining | -8.29% | $3.27 |
WAF | West African Resources | -8.06% | $2.23 |
EVN | Evolution Mining | -7.64% | $7.68 |
WGX | Westgold Resources | -7.60% | $2.62 |
Ridley Corp shrugs off cap raise headwind
[11:25 am] Ridley Corp shares surged 16.5% after completing a $125 million capital raise at $2.12 per share, reflecting a 9.0% discount to the prior closing price. The funds will finance the $375 million acquisition of Dyno Nobel’s Fertilisers Distribution business.
While share prices typically fall to the offer price post-raise, Ridley Corp soared as analysts praised the acquisition and deemed the balance sheet utilisation efficient, even with some equity dilution concerns.
The deal is projected to boost EPS by over 25% in FY26, including run-rate synergies, or approximately 18% excluding synergies.
Source: ASX Announcement | Company page: Ridley Corp
ASX 200 higher, but slipping from session highs
[11:00 am] The S&P/ASX 200 is currently 0.63% higher, down from session highs of 0.98%.
The market is doing exactly what you'd expect after such a catalyst. Macquarie's commentary (below) about a rotation is also playing out. Some of the key movers today include:
Appen (+19.5%), Life360 (+17.4%), and WiseTech (+5.9%) opened higher and continue to gain momentum.
Woolworths (-2.5%) and Coles (-2.7%), previously strong during tariff volatility, are declining as investors move away from safe-haven stocks.
Commonwealth Bank (-0.6%), a safe-haven beneficiary, is also underperforming due to the shift toward growth assets.
Gold miners, including Newmont, Northern Star, and Evolution, are down 6-10%, reflecting a 2.7% overnight drop in gold prices.
Small caps making moves
[10:20 am] Here are the top small caps ($200m to $1bn market cap) winners and losers as at 10:20 am.
Ticker | Company | % Chg | Price |
|---|---|---|---|
APX | Appen | 14.29% | $1.08 |
RIC | Ridley Corporation | 11.16% | $2.59 |
CU6 | Clarity Pharmaceuticals | 9.68% | $2.44 |
PGH | Pact Group | 7.23% | $0.89 |
CRN | Coronado Global | 7.06% | $0.18 |
CAY | Canyon Resources | 6.82% | $0.24 |
RAC | Race Oncology | 6.77% | $1.42 |
PMT | Patriot Battery Metals | 6.12% | $0.26 |
LOT | Lotus Resources | 5.56% | $0.19 |
TRA | Turners Automotive Group | 5.51% | $5.17 |
Ticker | Company | % Chg | Price |
|---|---|---|---|
SKO | Serko | -9.74% | $3.15 |
SBM | St Barbara | -7.54% | $0.28 |
AUC | Ausgold | -7.35% | $0.63 |
ALK | Alkane Resources | -7.01% | $0.73 |
GG8 | Gorilla Gold Mines | -6.80% | $0.45 |
AAR | Astral Resources Nl | -6.45% | $0.15 |
AZY | Antipa Minerals | -5.96% | $0.44 |
MEK | Meeka Metals | -5.71% | $0.13 |
BC8 | Black Cat Syndicate | -5.62% | $0.84 |
LRV | Larvotto Resources | -5.16% | $0.74 |
Top gainers and losers at open
[10:15 am] Here are the top S&P/ASX 200 gainers and losers as at 10:15 am. Its worth noting that all the worst performers are gold-related.
Ticker | Company | % Chg | Price |
|---|---|---|---|
ZIP | Zip Co | 13.15% | $2.07 |
360 | Life360 Inc | 12.45% | $26.82 |
BRG | Breville Group | 9.60% | $33.33 |
AAI | Alcoa Corporation | 8.09% | $44.25 |
PPT | Perpetual | 7.61% | $18.52 |
CTD | Corporate Travel Management | 7.46% | $12.97 |
FLT | Flight Centre Travel Group | 6.81% | $13.95 |
XYZ | Block, Inc. | 6.54% | $85.45 |
MIN | Mineral Resources | 6.44% | $24.28 |
PNI | Pinnacle Investment Management | 6.02% | $20.69 |
Ticker | Company | % Chg | Price |
|---|---|---|---|
OBM | Ora Banda Mining | -9.05% | $0.96 |
PRU | Perseus Mining | -8.71% | $3.25 |
CMM | Capricorn Metal | -8.49% | $8.62 |
GMD | Genesis Minerals | -8.27% | $3.77 |
RRL | Regis Resources | -7.49% | $4.32 |
WAF | West African Resources | -7.44% | $2.24 |
RMS | Ramelius Resources | -7.01% | $2.52 |
EVN | Evolution Mining | -6.74% | $7.75 |
WGX | Westgold Resources | -6.71% | $2.64 |
SPR | Spartan Resources | -6.10% | $1.97 |
NST | Northern Star Resources | -5.47% | $18.14 |
Abacus Storage King REIT rejects takeover bid
[9:45 am] Abacus Storage King REIT has rejected the indicative takeover proposal from Ki Corporation and Public Storage, as the offer price of $1.47 per share does not reflect the fair value of the company.
Today, Abacus announced a pro-forma Net Tangible Asset (NTA) figure of $1.73 per security, derived from an independent valuation review. However, these valuations are conducted on a standalone basis and do not account for any portfolio premium that reflects the scale and significance of ASK’s portfolio.
Abacus shares closed at $1.50 on Monday, 12 May.
Source: ASX Announcement | Company page: Abacus Storage King REIT
Macquarie's take on US-China tariff pause
[9:30 am] Here are Macquarie's key takeaways from the US-China tariff pause.
De-escalation in the US-China trade war is a near-term positive for the ASX, though the broader market impact may be modest, with a likely rotation in investment focus.
Cyclical stocks with high US exposure are poised to benefit from increased US economic activity and a stronger US dollar. Key stocks include: Block (XYZ), James Hardie (JHX), Reliance Worldwide (RWC), Light & Wonder (LNW), Computershare (CPU), Reece (REH), Worley (WOR), Flight Centre (FLT), Lovisa (LOV), and Breville (BRG).
Resource stocks (excluding precious metals) are expected to gain as investors, likely underweight, respond to increased industrial activity driven by the US-China deal. While a stronger USD may pressure commodity prices, positive sentiment from China should offset this. Top-rated resource stocks include: BHP (BHP), Santos (STO), South32 (S32), Capricorn Metals (CSC), IGO (IGO), Mineral Resources (MIN), and Iluka Resources (ILU).
Defensive sectors that rallied post-"Liberation Day" (e.g., supermarkets, gold, telecom) may underperform in the near term.
Bond proxies like TCL could face challenges due to reduced expectations for interest rate cuts.
Large, liquid ASX stocks that attracted inflows to Australia, such as CBA and WES, may also lag in the near term.
Life360 Q1 earnings call highlights
[9:15 am] Life360 just wrapped up its first quarter earnings call. Here are some of the key takeaways:
US price increases were well-received, showing strong untapped pricing power and customer value perception.
Ad revenue potential is scalable, with early positive signals supporting long-term growth confidence.
Aura partnership leverages B2B channels for revenue sharing, expecting advertising revenue in 2025.
AccuWeather collaboration enhances user experience with targeted alerts, anticipating future commercial benefits.
No major US price hikes planned soon; focus is on enhancing product value with new offerings like pet and senior services.
Pet tracking product launch is scheduled for Q4 2026, integrating seamlessly into the Life360 ecosystem with durable devices.
Apple App Store changes offer long-term margin improvement opportunities despite uncertainties around Apple Pay integration.
The company said adjusted EBITDA is expected to trough in Q2 2025, rebounding in the second half of 2025. Its full-year revenue guidance was reiterated, with some compositional changes (higher subscription revenue, lower hardware revenue).
Gold stocks to tumble
[9:00 am] US-China trade de-escalation, rising bond yields and US dollar, India-Pakistan ceasefire and potential Russia-Ukraine peace talks pushed gold prices sharply lower overnight, down 2.7% to US$3,235, the lowest since 16-Apr.
This drove a sharp selloff for gold equities overnight, with the VanEck Gold Miners ETF down 7.4%, the lowest since 10-Apr. Heavyweight names like Newmont and Barrick Gold fell 5.9% and 6.3% respectively.
This weak lead in should see local gold miners open sharply lower.
Life360 large Q1 EBITDA beat
[8:55 am] Life360 reported a bumper Q1 result, broadly beating market expectations. Here are the key numbers:
Revenue up 32% to $103.6m vs. $101.4m consensus (2.1% beat)
Underlying EBITDA up 270% to $15.9m vs. $8.7m consensus (82% beat)
Record paying circle net adds of ~137,000
MAUs up 26% to 83.7m
"Guidance has been reiterated but compositionally has modestly changed to, in our view, a higher quality mix (more subscription revenue, less hardware)," notes RBC Capital Markets analyst Wei-Weng Chen.
Source: ASX Announcement | Company page: Life360
Broker Ratings
[8:45 am] Will provide an update later for any other broker updates.
Catapult Group initiated Buy with $5.00 target (UBS)
FleetPartners retained Outperform; target price up to $3.77 from $3.65 (MQG)
Perpetual upgraded to Overweight from Neutral; target up to $19.50 from $17 (JPM)
Pinnacle retained Outperform; target lowered to $25.10 from $27.37 (MQG)
Super Retail Group retained Neutral; target lowered to $14.10 from $15.40 (MQG)
Top stories from Livewire
Woodside turns up the heat – LNG expansion, strategic partnerships, and hydrogen future | Woodside is transforming from Australia’s largest independent oil and gas producer into a global LNG and infrastructure powerhouse, driven by its US$17.5 billion Louisiana LNG project and strategic partnerships like the 40% stake sale to Stonepeak. Despite a 46% share price drop since September 2023 due to falling oil prices, Woodside’s investments in hydrogen projects (H2Perth, H2TAS, H2OK) and a BP gas supply deal position it to lead the global LNG market while navigating the energy transition.
Bitcoin is back - should you be buying? | Bitcoin has surged past US$100,000, driven by its narrative as a sovereign, fixed-supply asset amid inflation and de-dollarisation trends, bolstered by spot ETF inflows and the 2024 halving. Despite volatility and regulatory risks, its low correlation with traditional assets and potential for relaxed U.S. crypto policies, highlighted by Trump’s upcoming $TRUMP dinner, make it a compelling diversifier for risk-tolerant investors.
Reflecting on Warren Buffett's legacy | Warren Buffett’s resignation from Berkshire Hathaway at 95 marks the end of a legendary era, having grown the company’s per-share value by 5,502,284% since 1964 through integrity, patience, and long-term focus. His legacy, beyond unmatched returns, lies in lessons like disciplined investing, the power of compounding over decades, and maintaining liquidity to seize opportunities, leaving successor Greg Abel with a cash-rich firm poised for future success.
What's driving stocks?
[8:40 am] Global equity markets and risk assets surged after a meaningful de-escalation in US-China tariffs.
For the next 90 days, US tariffs on Chinese goods will fall from 145% to 30% (or 10% reciprocal tariff and 20% related to fentanyl)
For the next 90 days, China tariffs on US goods will come down from 125% to 10%
The tariff relief was much more aggressive than anticipated, as reports noted the US could lower the rate towards 50%, while Trump floated 80% on Friday
On the geopolitical front, India and Pakistan are in the midst of a fragile ceasefire, while Zelensky challenged Putin to meet him in Turkey later this week for peace talks
Good morning!
[8:35 am] S&P/ASX 200 futures are pointing towards a 97pt gap up (+1.17%) after a major de-escalation of US-China trade tensions was announced on Monday night.
If you’re new to the blog – catch up quick via today’s Morning Wrap.
