In a nutshell:
ASX 200 capped off a 0.4% weekly gain and return to breakeven for 2026
Tech rallied as beaten-down names like Pro Medicus (+4.5%), WiseTech (+4.2%) and Life360 (+4.1%) bounced from 20-30% drawdowns since August
Uranium stocks fell 6-10%, with Paladin Energy (-3.6%) hitting its lowest level since December 2025, while PLS Group (-5.4%) led lithium names lower
Carl is away for another week, hang in there!
Let's dive in
Today in Review
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
| ASX 200 | 8,716.6 | +0.64% |
| All Ords | 8,877.7 | +0.62% |
| Small Ords | 3,281.9 | +0.36% |
| All Tech | 2,821.6 | +2.04% |
| Emerging Companies | 2,930.6 | +0.13% |
Currency | ||
| AUD/USD | 0.6981 | +0.34% |
US Futures | ||
| S&P 500 | 7,822.0 | -0.39% |
| Dow Jones | 51,511.0 | +0.12% |
| Nasdaq | 31,014.5 | -1.23% |
Name | Value | % Chg |
|---|---|---|
Sector | ||
| Information Technology | 1,708.4 | +2.23% |
| Consumer Discretionary | 3,630.5 | +2.16% |
| Real Estate | 3,292.7 | +1.84% |
| Utilities | 10,151.3 | +1.75% |
| Consumer Staples | 13,204.4 | +1.25% |
| Health Care | 32,660.1 | +1.15% |
| Industrials | 7,934.0 | +0.87% |
| Financials | 9,056.5 | +0.49% |
| Energy | 10,927.2 | +0.22% |
| Materials | 23,669.7 | -0.03% |
| Communication Services | 1,530.3 | -0.57% |
ASX 200 Intraday Chart
ASX 200 grinds higher to close at best levels (Source: Market Index)
Markets
A solid close to another choppy week for the ASX 200, up 0.4% for the week and back to breakeven (+0.03%) year-to-date. Breadth was solid, with 133 (66.5%) constituents higher and only Telcos finishing lower
Tech is giving off a bottoming kind of vibe. Plenty of charts, like Pro Medicus (+4.5%), WiseTech (+4.2%), Life360 (+4.1%), Zip (+3.8%) and Xero (+3.5%), look fairly similar. Namely, a 20-30% tumble since August, fairly flat price action in recent days and a recent uptick to a one to two-week high. Meanwhile, names with better-than-expected FY26 earnings or recent guidance upgrades, like Data#3 and Codan, continue to march higher. There was no major catalyst behind the move, though the iShares Expanded Tech-Software Sector ETF has been looking constructive for weeks now, so perhaps this is a delayed follow-through
Discretionary is giving off that same energy, with the index now up 5.1% since 29 September after its recent ~16% pullback. Likewise, there was no major catalyst behind the move, besides some abysmal consumer confidence data earlier this week (contrarian bullish, anyone?)
Real Estate is now on a four-day win streak, up 4% after hitting its lowest level since January 2024. Aussie yields at both the short and long end are starting to roll over, down 5-10 bps from recent multi-year highs
Uranium stocks finished broadly lower, with most names down 6-10%. It’s absolute carnage for a lot of these charts. Paladin Energy (-3.6%) undercut its July low and is now at its lowest level since 18 December 2025. It really goes to show the sector isn’t tied to uranium fundamentals at all (or at least most of the time), just momentum and risk appetite
Lithium stocks were also smashed, with bellwether PLS Group (-5.4%) now down 16.6% year-to-date (vs up 60% year-to-date on 1 June). Chinese lithium carbonate prices opened ~4.8% lower this morning at 115,640 yuan a tonne and have since pared losses to 1.4%, but lithium names failed to catch a bid and closed at their worst levels
Overall, we’re seeing some life come back into battered sectors like Tech, Discretionary and Real Estate. But the broader market remains choppy at best and the small end continues to struggle, with the ASX Emerging Companies Index up just 0.13%. Copper is up 1.6% to US$6.69/lb today, recovering the entirety of its overnight dip, though copper equities refused to budge
Today's best ASX Top 300 gainers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Generation Development Group (GDG) | $2.79 | +$0.19 | +7.3% | -17.2% | -62.3% |
| Zimplats Holdings (ZIM) | $15.00 | +$0.87 | +6.2% | -16.2% | -26.1% |
| Ricegrowers (SGLLV) | $13.52 | +$0.77 | +6.0% | -2.2% | -21.6% |
| West African Resources (WAF) | $3.69 | +$0.19 | +5.4% | -2.9% | +21.4% |
| Mercury NZ (MCY) | $5.60 | +$0.28 | +5.3% | +3.7% | -3.3% |
| Lovisa Holdings (LOV) | $23.57 | +$1.13 | +5.0% | +3.7% | -38.0% |
| The Lottery Corporation (TLC) | $5.19 | +$0.23 | +4.6% | +5.3% | -7.3% |
| Cromwell Property Group (CMW) | $0.34 | +$0.015 | +4.6% | -8.1% | -28.4% |
| Light & Wonder Inc. (LNW) | $116.00 | +$5.00 | +4.5% | -7.2% | -6.1% |
| Pro Medicus (PME) | $165.73 | +$7.14 | +4.5% | -2.3% | -44.4% |
| Magellan Financial Group (MFG) | $8.56 | +$0.36 | +4.4% | -4.0% | -17.8% |
| Wisetech Global (WTC) | $33.63 | +$1.37 | +4.2% | -4.6% | -60.7% |
| Life360 Inc (360) | $20.34 | +$0.81 | +4.2% | +1.5% | -62.1% |
| Genesis Minerals (GMD) | $7.37 | +$0.28 | +3.9% | -8.6% | +18.9% |
| Zip Co (ZIP) | $2.16 | +$0.08 | +3.8% | -6.5% | -54.1% |
| ARB Corporation (ARB) | $17.62 | +$0.65 | +3.8% | -6.5% | -55.4% |
| Orora (ORA) | $1.41 | +$0.05 | +3.7% | -6.9% | -30.2% |
| Vault Minerals (VAU) | $6.08 | +$0.21 | +3.6% | -8.4% | +29.9% |
| Xero (XRO) | $59.81 | +$2.02 | +3.5% | -19.4% | -61.2% |
| Data3 (DTL) | $13.87 | +$0.46 | +3.4% | +32.2% | +53.9% |
Today's worst ASX Top 300 losers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Sunrise Energy Metals (SRL) | $17.15 | -$2.13 | -11.0% | -11.6% | +338.6% |
| Summerset Group Holdings (SNZ) | $5.20 | -$0.50 | -8.8% | -23.2% | -49.1% |
| Deep Yellow (DYL) | $0.98 | -$0.075 | -7.1% | -40.1% | -51.2% |
| MAAS Group Holdings (MGH) | $4.63 | -$0.33 | -6.6% | -22.3% | +2.4% |
| Silex Systems (SLX) | $4.01 | -$0.23 | -5.4% | -20.3% | -41.8% |
| PLS Group (PLS) | $3.50 | -$0.20 | -5.4% | -29.0% | +30.6% |
| Brazilian Rare Earths (BRE) | $3.07 | -$0.15 | -4.7% | -18.8% | -37.7% |
| Electro Optic Systems Holdings (EOS) | $10.13 | -$0.45 | -4.3% | +6.4% | +15.2% |
| Elevra Lithium (ELV) | $4.79 | -$0.20 | -4.0% | -38.2% | +8.1% |
| NexGen Energy (Canada) (NXG) | $12.28 | -$0.49 | -3.8% | -16.9% | -8.4% |
| Liontown (LTR) | $0.77 | -$0.03 | -3.7% | -35.6% | -26.3% |
| Paladin Energy (PDN) | $8.39 | -$0.32 | -3.7% | -28.1% | -6.6% |
| Macmahon Holdings (MAH) | $1.11 | -$0.04 | -3.5% | +16.2% | +133.7% |
| DroneShield (DRO) | $1.565 | -$0.055 | -3.4% | -10.3% | -76.3% |
| WAM Capital (WAM) | $1.00 | -$0.035 | -3.4% | -17.7% | -47.8% |
| Sims (SGM) | $22.13 | -$0.76 | -3.3% | -9.9% | +59.4% |
| Capstone Copper Corp. (CSC) | $13.60 | -$0.45 | -3.2% | -10.3% | -7.7% |
| PYC Therapeutics (PYC) | $2.45 | -$0.08 | -3.2% | -2.0% | +114.4% |
| Megaport (MP1) | $18.78 | -$0.60 | -3.1% | +9.5% | +30.9% |
| EQ Resources (EQR) | $0.325 | -$0.01 | -3.0% | -15.6% | +692.7% |
Economy
No major economic announcements
Interesting Movers
Trading higher
- Generation Development Group (GDG) $2.79+7.3%
No market sensitive announcements. Fund administrators/management stocks caught a bid, including Hub24 (+2.1%)
- Mastermyne Group (MYE) $0.77+6.2%
Won a Tahmoor mining services contract worth about $80m over an initial two years, rising to about $240m over six years if both extension options are exercised.
- Lovisa Holdings (LOV) $23.57+5.0%
No market sensitive announcements. Very strong day for the Discretionary sector, with peers like Lottery Corp, Light & Wonder, ARB Corp, Premier Investments all up 2-4%
Trading Lower
- Boss Energy (BOE) $1.36-9.9%
No market sensitive announcements. A broad-based selloff for uranium equities, with peers like Peninsula Energy (-10.8%), Bannerman (-7.3%), Deep Yellow (-7.1%) and more
- MAAS Group Holdings (MGH) $4.63-6.7%
Firmus has withdrawn its ASX listing application after Maas shares fell 22.3% on Thursday. Maas holds about 2.18m Firmus shares (ordinary and preference) at an average cost of about $188 each, or roughly $410m in total. Its JLE subsidiary has received about $1.1bn in Firmus work orders across FY26 and FY27, with $373m paid so far and about $727m still to come
- PMET Resources Inc (PMT) $0.39-6.0%
No market sensitive announcements. Lithium stocks hit by a sharp drop in Chinese lithium carbonate futures, down as much as ~4.8% to 115,640 yuan a tonne in early trade. Peers like PLS Group (-5.4%) and Liontown (-3.7%) finished broadly lower
Broker Moves
Company | Broker | Action | Rating | Price Target |
|---|---|---|---|---|
ASXASX | Macquarie | Retained | Underperform | $53.00(from $52.00) |
BGLBellevue Gold | UBS | Retained | Buy | $2.00(from $1.90) |
BHPBHP Group | UBS | Retained | Neutral | $62.00(from $61.00) |
BMNBannerman Energy | UBS | Retained | Buy | $4.30(from $5.15) |
BOEBoss Energy | UBS | Retained | Neutral | $1.50 |
CGFChallenger | Macquarie | Retained | Neutral | $9.60(from $10.20) |
CHNChalice Mining | UBS | Retained | Buy | $2.10(from $2.00) |
CIAChampion Iron | UBS | Retained | Buy | $4.10(from $4.15) |
CMMCapricorn Metals | UBS | Retained | Buy | $24.00(from $21.50) |
COHCochlear | Macquarie | Retained | Neutral | $124.00 |
CRNCoronado Global Resources Inc | UBS | Retained | Neutral | $0.21 |
CSCCapstone Copper Corp. | UBS | Retained | Buy | $18.00(from $17.50) |
CSLCSL | Citi | Retained | Neutral | $180.00 |
| Macquarie | Retained | Neutral | $174.00 | |
CYLCatalyst Metals | UBS | Retained | Buy | $9.75(from $9.25) |
DRRDeterra Royalties | UBS | Retained | Buy | $4.80 |
DYLDeep Yellow | UBS | Retained | Buy | $2.15 |
ELVElevra Lithium | UBS | Upgraded | Buy(from Neutral) | $9.10(from $9.60) |
EMREmerald Resources NL | UBS | Retained | Buy | $9.25(from $8.75) |
EVNEvolution Mining | Morgans | Retained | Hold | $14.30(from $14.40) |
| UBS | Retained | Buy | $16.40(from $16.00) | |
FFMFireFly Metals | UBS | Retained | Buy | $2.40 |
FMGFortescue | Bell Potter | Retained | Hold | $15.80(from $17.10) |
| Morgan Stanley | Retained | Underweight | $15.45 | |
| UBS | Retained | Neutral | $16.40(from $16.50) | |
GGPGreatland Resources | UBS | Retained | Buy | $16.90(from $16.20) |
GMDGenesis Minerals | UBS | Retained | Buy | $10.70(from $10.60) |
GYGGuzman Y Gomez | Macquarie | Retained | Neutral | $28.90 |
IGOIGO | UBS | Upgraded | Buy(from Neutral) | $8.55(from $8.85) |
ILUIluka Resources | UBS | Retained | Neutral | $6.65 |
LOTLotus Resources | Canaccord Genuity | Retained | Speculative Buy | $0.70(from $2.30) |
LTRLiontown | UBS | Upgraded | Buy(from Neutral) | $1.20(from $1.40) |
LYCLynas Rare Earths | UBS | Retained | Buy | $21.00 |
MI6Minerals 260 | UBS | Retained | Buy | $1.40(from $1.35) |
MINMineral Resources | UBS | Retained | Buy | $72.00(from $74.00) |
MSBMesoblast | Bell Potter | Retained | Buy | $4.45 |
NEMNewmont Corporation | UBS | Retained | Buy | $210.00 |
NICNickel Industries | UBS | Retained | Buy | $1.05(from $1.10) |
NXGNexGen Energy (Canada) | UBS | Retained | Buy | $18.50 |
OBMOra Banda Mining | UBS | Retained | Buy | $2.10(from $1.95) |
PDNPaladin Energy | UBS | Upgraded | Buy(from Neutral) | $12.10 |
PLSPLS Group | UBS | Upgraded | Buy(from Neutral) | $5.30(from $5.60) |
PMTPMET Resources Inc | UBS | Retained | Buy | $0.90 |
PNRPantoro Gold | UBS | Retained | Buy | $4.50(from $4.00) |
RIORio Tinto | UBS | Retained | Neutral | $173.00(from $178.00) |
RMSRamelius Resources | UBS | Retained | Buy | $5.55(from $5.25) |
RRLRegis Resources | UBS | Upgraded | Buy(from Neutral) | $9.00(from $8.90) |
SFRSandfire Resources | UBS | Upgraded | Neutral(from Sell) | $23.30(from $21.35) |
VAUVault Minerals | UBS | Retained | Buy | $8.60 |
WAFWest African Resources | Macquarie | Retained | Outperform | $4.00 |
WGXWestgold Resources | UBS | Retained | Buy | $9.25(from $8.75) |
WHCWhitehaven Coal | UBS | Retained | Neutral | $7.85(from $7.80) |
Scans
Top Gainers
Code | Company | Last | % Chg |
|---|---|---|---|
| PMM | Pioneer Minerals Ltd | $0.31 | +72.22% |
| ERG | Eneco Refresh Ltd | $0.022 | +29.41% |
| S2R | S2 Resources Ltd | $0.07 | +27.27% |
| REC | Recharge Metals Ltd | $0.044 | +22.22% |
| M24 | Mamba Exploration Ltd | $0.064 | +20.76% |
Top Fallers
Code | Company | Last | % Chg |
|---|---|---|---|
| DXN | DXN Ltd | $0.40 | -16.67% |
| EGY | Energy Technologies Ltd | $0.02 | -16.67% |
| CSX | Cleanspace Holdings Ltd | $0.42 | -16.00% |
| PR2 | Piche Resources Ltd | $0.042 | -16.00% |
| RAN | Range International Ltd | $0.08 | -15.79% |
52 Week Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| PMM | Pioneer Minerals Ltd | $0.31 | +72.22% |
| REC | Recharge Metals Ltd | $0.044 | +22.22% |
| NMD | Normandy Minerals Ltd | $0.36 | +20.00% |
| KOA | The Koala Company Ltd | $5.09 | +2.41% |
| FPR | Fleetpartners Group Ltd | $4.75 | +1.06% |
52 Week Lows
Code | Company | Last | % Chg |
|---|---|---|---|
| RAN | Range International Ltd | $0.08 | -15.79% |
| FBR | FBR Ltd | $0.054 | -14.29% |
| FLX | FELIX Group Holdings Ltd | $0.03 | -11.77% |
| ANT | Antimony Resources Ltd | $0.04 | -11.11% |
| WBT | Weebit Nano Ltd | $2.80 | -11.11% |
Near Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| PCI | Perpetual Credit Income Trust | $1.07 | -0.93% |
| WVOL | iShares MSCI World Ex Aust Minimum Volatility ETF | $46.32 | -0.32% |
| IAGPF | Insurance Australia Group Ltd | $104.558 | -0.20% |
| GCI | Gryphon Capital Income Trust | $1.995 | +0.25% |
| VVLU | Vanguard Global Value Equity Active ETF | $79.99 | -0.40% |
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
|---|---|---|---|
| IFT | Infratil Ltd | $10.69 | -2.64% |
| GGOV | Betashares US Treasury Bond 20+ YR CCY Hedged ETF | $11.57 | -0.35% |
| GLPR | iShares Ftse GBL Property Ex Aus (Aud Hedged) ETF | $26.13 | -2.28% |
| BC8 | Black Cat Syndicate Ltd | $0.72 | -0.69% |
| MRE | Metrics Real Estate Multi-Strategy Fund | $1.525 | -2.24% |
