Evening Wrap: ASX 200 gains on ANZ, CBA, NAB and WBC as IDP Education soars on earnings, Telix Pharma dives on US FDA setback

The S&P/ASX 200 closed 19.5 points higher, up 0.22%.

It was only 19-odd points to the better today, but we closed on the session's high, so that indicates at least a modest growing urgency to own Aussie shares.

There was plenty going on under the surface though, with solid gains for the Big 4 Banks (despite a plunge from Bank of Queensland (BOQ)), and some seriously big moves both up and down on the back of earnings.

To make sense of all the above, I have detailed technical analysis on the Nasdaq Composite, the S&P/ASX 200, and Silver in today's ChartWatch.

Be sure to click/scroll through for the usual reporting of the major sector and stock-specific moves, the broker responses to them, as well as all the key economic data in tonight's Evening Wrap.

Let's dive in!

Markets

ASX 200 Session Chart

The S&P/ASX 200 (XJO) finished 19.5 points higher at 8,980.0, 0.36% from its session low and smack–bang on its session high. But, despite that seemingly robust performance, in the broader-based S&P/ASX 300 (XKO) advancers lagged decliners by a disturbing 105 to 165.

The shares most in demand today were of the Big 4 Bank variety, yep, ANZ Group (ANZ) (+0.9%), Commonwealth Bank of Australia (CBA) (+2.1%), National Australia Bank (NAB) (+2.4%), and Westpac (WBC) (+1.3%) all notched solid gains.

Now, here's the thing, when those four are up that much, there's usually a pretty good chance the ASX 200 is up on the day. Their gains more than outweighed some soggy performances elsewhere, particularly in Energy (XEJ) (-2.4%), Healthcare (XHJ) (-1.7%), and Technology (XIJ) (-1.1%).

In the Resources (XJR) (-1.0%) sector, it was a similar dour affair with really only Fortescue (FMG) (+1.5%) bucking the trend in the majors. FYI, those high flying lithium stocks from yesterday pared their gains today, as the price of the benchmark November lithium carbonate futures contract fell just over 2% in China today.

There were some massive moves on the earnings front, particularly from IDP Education (IEL) (+29.7%), Lifestyle Communities (LIC) (14.9%), and Eagers Automotive (APE) (+12.0%) (👍) and from -10.5% Ramsay Health Care (RHC), Bank of Queensland (BOQ) (-7.7%) and South32 (S32) (-7.2%) (👎).

Elsewhere, non-earnings related, Telix Pharmaceuticals (TLX) (-18.8%) took a nose-dive on a setback relating to US FDA approval of their investigational PET imaging agent TLX250-CDx, and Nine Entertainment (NEC) (-12.2%) slumped on news of the appointment of a new chief financial officer.

Today's best blue chip gainers

Today's worst blue chip losers

ChartWatch

Nasdaq Composite Index

Nasdaq Composite Index chart (click here for full size image)

No major update is a good update in a steady as she goes bull market.

Much of tonight’s action likely depends on market response to NVIDIA’s Q2 earnings that were released after market. First pass suggests a beat, but as is usually the case with Wall Street – there’s something in there they didn’t like… or a whisper number miss, that’s currently yielding a 3-odd percent fall in NVDA’s after-hours trade.

Still, the technicals here are so benign in terms of supply-side engagement – I can see very, very, little that really worries me here. Yet, it’s not like the demand-side are falling over themselves either, though.

Hey, it’s still August doldrums sort of stuff – consider that not a single day this month has exceeded average volume. Says it all…

So, we wait for signs of greater control from either party, or simply for the calendar to roll over to September!

Everything, i.e., short and long term uptrends, rising peaks and rising troughs in the price action, a predominance of demand-side candles (i.e., those with white bodies and or downward pointing shadows) remains demand-side control-intact here.

As a result, I am stay the course, FRP until I see any of those technicals suitably challenged – or of course, I see a close below that all important short term trend ribbon (presently 21095-21320).

S&P/ASX 200 (XJO)

S&P/ASX 200 chart (click here for full size image)

Ditto the Comp – steady as she goes here too. A similar modest demand-side showing – perhaps not in keeping with what was really going on under the surface in our case (negative market breadth).

Still, there’s so little movement, it’s impossible to draw any other conclusion than continued demand-side control.

Ideally, we see a challenge of 9055 quickly, that long upper shadow from Monday continues to be a bit of a festering supply-side sore for me. I’d like the latent supply, no doubt lurking up there, to be consumed decisively as soon as possible.

To keep the train rolling 🚂

In the right direction 📈

Conclusion: Stay the course, FRP – until you know what (supply-side candles, lower peak, close below the short term uptrend ribbon presently 8812-8880).

Silver Futures (Front month, back-adjusted) COMEX

Weighing up a golden, ahem, silver run? 🥈 (click here for full size image)

The last time we covered silver was in ChartWatch in the Evening Wrap on 6 August.

In that update, silver was marking time within its long term uptrend – not unlike it’s doing today. However, I suggest it’s drawing close enough to the major point of supply at 40.41 to take a closer look.

Is a breakout imminent? 🤔

Well, let me say it’s about as imminent as it has looked for the last four weeks! Weeks, even months… these are but fleeting moments in a silver bull’s long term scale of time… marked in years and decades waiting for “the big move”.

(Long suffering silver bulls know what I mean! 😁)

I’m going to go with “very warm” here. Today’s candle is live, so discount it, but should it stay white and with a higher high and higher low to yesterday’s candle, we’ll be back to rising peaks and rising troughs in the price action.

The short term uptrend ribbon continues to rise and do its job as a zone of dynamic demand (give or take!), and the long term uptrend has never really been in question for the last 6-months.

It’s just that pesky 40.41 level. It must be dealt with, and I’m going to tip it will be sooner rather than later.

So, happy to stay the course here also, FRP if you’re that way inclined!

Economy

Today

• There weren't any major economic data releases in our time zone today

Later this week

Thursday

• 22:30 Prelim June Quarter GDP (+3.1% p.a. forecast vs +3.0% p.a. in March Quarter)

Friday

• 00:00 USA July New Home Sales (635,000 forecast vs 627,000 in June)

• 22:30 USA July Personal Consumption Expenditures ("PCE")

  • Core PCE Price Index: +0.3% m/m forecast vs +0.3% m/m in June

  • Personal Income: +0.4% m/m forecast vs +0.3% m/m in June

  • Personal Spending: +0.5% m/m forecast vs +0.3% m/m in June

Latest News

Interesting Movers

Trading higher

• +29.7% IDP Education (IEL) - FY25 Results Presentation.

• +15.3% Kaili Resources (KLR) - Drilling at Limestone Coast to commence on 8 Sep 2025.

• +14.9% Lifestyle Communities (LIC) - Full Year Results Presentation.

• +13.9% Genusplus Group (GNP) - FY2025 Results Presentation, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +12.0% Eagers Automotive (APE) - 2025 Half Year Results Presentation, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +11.9% Aeris Resources (AIS) - Full Year Results Presentation.

• +11.5% Invictus Energy (IVZ) - Continued positive response to 27-Aug Strategic Investor & Alliance Agreement.

• +9.7% Tabcorp (TAH) - Continued positive response to 27-Aug Full Year Results Presentation, rise is consistent with prevailing short and long term uptrends 🔎📈

• +9.1% Qantas Airways (QAN) - Qantas Group FY25 Results Presentation rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +9.1% Nuix (NXL) - Continued positive response to 25-Aug FY25 Financial Results Presentation.

• +8.7% Titomic (TTT) - Full-Year Results Presentation.

• +8.5% Duratec (DUR) - Continued positive response to 27-Aug FY25 Results Presentation.

• +7.0% Jumbo Interactive (JIN) - No news 🤔.

• +6.8% Generation Development Group (GDG) - FY25 results, rise is consistent with prevailing short and long term uptrends, a regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +6.4% HOT Chili (HCH) - No news, rise is consistent with prevailing short term uptrend and long term trend is transitioning from down to up, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.5% DUG Technology (DUG) - No news, rise is consistent with prevailing short term uptrend and long term trend is transitioning from down to up, a recent regular in ChartWatch ASX Scans Uptrends list 🔎📈

• +5.4% Adairs (ADH) - Continued positive response to 27-Aug ADH FY2025 Results.

• +5.4% Solvar (SVR) - Solvar FY25 Presentation, rise is consistent with prevailing short and long term uptrends 🔎📈

Trading lower

• -18.8% Telix Pharmaceuticals (TLX) – Telix Provides Regulatory Update on TLX250-CDx, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉

• -12.2% Nine Entertainment (NEC) – Appointment of Chief Financial Officer.

• -10.5% Ramsay Health Care (RHC) – Investor Presentation & Speech FY25 Results.

• -10.3% Electro Optic Systems (EOS) – No news, pulled back after yesterday's sharp rally due to EOS part of Successful LAND 156 Bid Team.

• -9.2% Archtis (AR9) – Completion of Placement & Institutional Entitlement Offer.

• -8.3% Core Lithium (CXO) – Equity Raising Presentation.

• -8.2% Macquarie Technology Group (MAQ) – Full Year Results - Investor Presentation, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉

• -8.0% Findi (FND) – Findi Annual General Meeting Chairman's Address.

• -7.7% Bank of Queensland (BOQ) – Strategy and Trading Update.

• -7.6% Clarity Pharmaceuticals (CU6) – Preliminary Final Report.

• -7.5% Clinuvel Pharmaceuticals (CUV) – Investor Presentation.

• -7.2% South32 (S32) – 2025 Full Year Financial Results Presentation, fall is consistent with prevailing short and long term downtrends, a regular in ChartWatch ASX Scans Downtrends list 🔎📉

• -6.6% Karoon Energy (KAR) – No news since yesterday's 2025 Half Year Results Presentation.

Broker Moves

ARN Media (A1N)

• Downgraded to hold from buy at Canaccord Genuity; Price Target: $0.50 from $0.95

Acusensus (ACE)

• Retained at speculative buy at Morgans; Price Target: $1.30 from $1.20

Adairs (ADH)

• Upgraded to buy from overweight at Jarden; Price Target: $2.96 from $2.07

• Retained at hold at Ord Minnett; Price Target: $2.70 from $2.35

• Retained at neutral at UBS; Price Target: $2.55 from $2.25

Australian Finance Group (AFG)

• Retained at neutral at Citi; Price Target: $2.90 from $2.10

• Retained at outperform at Macquarie; Price Target: $2.86 from $2.20

Alcidion Group (ALC)

• Retained at sector perform at RBC Capital Markets; Price Target: $0.11 from $0.09

ANZ Group Holdings (ANZ)

• Retained at equal-weight at Morgan Stanley; Price Target: $29.30 from $27.00

Atturra (ATA)

• Retained at accumulate at Morgans; Price Target: $0.95 from $0.90

Bellevue Gold (BGL)

• Retained at outperform at Macquarie; Price Target: $1.25

BHP Group (BHP)

• Retained at neutral at Barrenjoey; Price Target: $42.50

Biome Australia (BIO)

• Retained at buy at Bell Potter; Price Target: $0.95

Beacon Lighting Group (BLX)

• Retained at buy at Citi; Price Target: $3.96

Bathurst Resources (BRL)

• Retained at buy at Ord Minnett; Price Target: $0.94

Commonwealth Bank of Australia (CBA)

• Retained at underweight at Morgan Stanley; Price Target: $143.70 from $131.00

Chalice Mining (CHN)

• Retained at underweight at Barrenjoey; Price Target: $0.90

COG Financial Services (COG)

• Retained at buy at Bell Potter; Price Target: $2.05 from $1.75

• Retained at accumulate at Morgans; Price Target: $1.98 from $1.87

• Retained at accumulate at Ord Minnett; Price Target: $1.91 from $1.92

Coles Group (COL)

• Retained at overweight at Morgan Stanley; Price Target: $23.80 from $21.70

Centaurus Metals (CTM)

• Retained at overweight at Barrenjoey; Price Target: $0.55

Count (CUP)

• Retained at positive at E&P; Price Target: $1.47

Calix (CXL)

• Retained at buy at Shaw and Partners; Price Target: $1.70

Dicker Data (DDR)

• Retained at positive at E&P; Price Target: $11.90

Delta Lithium (DLI)

• Retained at neutral at Barrenjoey; Price Target: $0.17

Domino's Pizza Enterprises (DMP)

• Retained at sell at Citi; Price Target: $14.20

• Retained at equal-weight at Morgan Stanley; Price Target: $18.00 from $24.00

• Retained at buy at Morgans; Price Target: $18.00 from $22.20

• Retained at buy at UBS; Price Target: $19.00 from $22.00

DroneShield (DRO)

• Retained at buy at Bell Potter; Price Target: $3.70 from $3.80

• Retained at buy at Shaw and Partners; Price Target: $3.60

Duratec (DUR)

• Upgraded to buy from accumulate at Ord Minnett; Price Target: $1.95 from $1.80

• Retained at buy at Shaw and Partners; Price Target: $1.90

EBOS Group (EBO)

• Retained at outperform at Macquarie; Price Target: $39.78 from $41.72

• Retained at buy at UBS; Price Target: $39.50 from $44.50

Emerald Resources NL (EMR)

• Retained at underweight at Barrenjoey; Price Target: $3.65 from $3.60

• Retained at buy at Canaccord Genuity; Price Target: $5.50

Fletcher Building (FBU)

• Retained at equal-weight at Morgan Stanley; Price Target: $3.13 from $3.04

Fenix Resources (FEX)

• Retained at buy at Bell Potter; Price Target: $0.40

Flight Centre Travel Group (FLT)

• Retained at buy at Citi; Price Target: $15.10

• Retained at outperform at Macquarie; Price Target: $16.55 from $15.20

• Retained at buy at Morgans; Price Target: $15.65 from $15.35

• Retained at buy at Ord Minnett; Price Target: $13.60 from $13.02

• Upgraded to outperform from sector perform at RBC Capital Markets; Price Target: $16.00 from $15.00

• Retained at buy at UBS; Price Target: $14.00 from $13.70

G8 Education (GEM)

• Retained at buy at Carter Bar Securities; Price Target: $1.59 from $1.60

• Retained at hold at Moelis Australia; Price Target: $0.92 from $1.15

Hillgrove Resources (HGO)

• Retained at speculative buy at Canaccord Genuity; Price Target: $0.08

Hazer Group (HZR)

• Retained at buy at Shaw and Partners; Price Target: $0.70

IDP Education (IEL)

• Retained at positive at E&P; Price Target: $12.50

• Retained at outperform at Macquarie; Price Target: $6.40

IGO (IGO)

• Retained at outperform at RBC Capital Markets; Price Target: $4.75

Ingenia Communities Group (INA)

• Downgraded to hold from outperform at CLSA; Price Target: $6.51 from $6.22

Jumbo Interactive (JIN)

• Retained at accumulate at Morgans; Price Target: $12.90 from $11.30

Johns Lyng Group (JLG)

• Downgraded to hold from buy at Canaccord Genuity; Price Target: $4.00 from $6.10

• Retained at hold at CLSA; Price Target: $4.00 from $2.40

• Retained at hold at Jefferies; Price Target: $4.00

Karoon Energy (KAR)

• Retained at buy at Citi; Price Target: $2.40 from $2.20

• Retained at neutral at Macquarie; Price Target: $1.90 from $1.80

• Retained at hold at Morgans; Price Target: $1.90 from $1.85

Kinatico (KYP)

• Retained at buy at Bell Potter; Price Target: $0.35

Lifestyle Communities (LIC)

• Retained at neutral at Citi; Price Target: $4.50

Lovisa Holdings (LOV)

• Upgraded to neutral from sell at Citi; Price Target: $42.50 from $22.98

• Upgraded to overweight from neutral at Jarden; Price Target: $42.42 from $22.87

• Downgraded to neutral from outperform at Macquarie; Price Target: $40.90 from $33.40

• Downgraded to equal-weight from overweight at Morgan Stanley; Price Target: $42.00 from $35.00

• Downgraded to accumulate from buy at Morgans; Price Target: $44.50 from $35.00

Mach7 Technologies (M7T)

• Retained at buy at Morgans; Price Target: $0.81 from $1.37

Macquarie Technology Group (MAQ)

• Retained at positive at E&P; Price Target: $110.18

• Downgraded to market-weight from overweight at Wilsons; Price Target: $71.30 from $89.75

Matrix Composites & Engineering (MCE)

• Retained at hold at Bell Potter; Price Target: $0.28

• Retained at hold at Bell Potter; Price Target: $0.28

• Downgraded to hold from speculative buy at Morgans; Price Target: $0.25 from $0.30

Mineral Resources (MIN)

• Retained at underperform at Macquarie; Price Target: $31.00 from $29.00

• Retained at outperform at RBC Capital Markets; Price Target: $38.00

Medibank Private (MPL)

• Retained at neutral at Macquarie; Price Target: $4.50

National Australia Bank (NAB)

• Upgraded to overweight from equal-weight at Morgan Stanley; Price Target: $42.50 from $39.80

Nine Entertainment Co. Holdings (NEC)

• Retained at neutral at E&P; Price Target: $1.80 from $1.70

• Downgraded to neutral from buy at Goldman Sachs; Price Target: $1.75 from $1.80

• Retained at overweight at JPMorgan; Price Target: $1.95 from $1.80

• Retained at neutral at Macquarie; Price Target: $1.25 from $1.29

• Downgraded to hold from accumulate at Ord Minnett; Price Target: $1.80 from $1.70

Neuren Pharmaceuticals (NEU)

• Retained at buy at Bell Potter; Price Target: $22.00

Nickel Industries (NIC)

• Retained at overweight at Barrenjoey; Price Target: $1.80

• Retained at neutral at Macquarie; Price Target: $0.75

Pioneer Credit (PNC)

• Retained at buy at Shaw and Partners; Price Target: $0.80

Platinum Asset Management (PTM)

• Retained at neutral at UBS; Price Target: $0.53

Qantas Airways (QAN)

• Retained at neutral at Macquarie; Price Target: $10.40

• Retained at sector perform at RBC Capital Markets; Price Target: $10.75

ReadyTech Holdings (RDY)

• Retained at buy at Ord Minnett; Price Target: $2.86 from $3.75

• Downgraded to market-weight from overweight at Wilsons; Price Target: $2.63 from $3.43

RAM Essential Services Property Fund (REP)

• Retained at buy at UBS; Price Target: $0.70 from $0.75

Ramsay Health Care (RHC)

• Retained at sector perform at RBC Capital Markets; Price Target: $44.00

Rio Tinto (RIO)

• Retained at neutral at Citi; Price Target: $119.00

• Retained at neutral at Macquarie; Price Target: $111.00 from $109.00

Ramelius Resources (RMS)

• Retained at overweight at Barrenjoey; Price Target: $3.70 from $3.60

South32 (S32)

• Retained at overweight at Barrenjoey; Price Target: $3.95

• Retained at neutral at Citi; Price Target: $3.20

• Retained at outperform at RBC Capital Markets; Price Target: $3.50

Scentre Group (SCG)

• Upgraded to outperform from hold at CLSA; Price Target: $4.35 from $3.67

SiteMinder (SDR)

• Retained at buy at Citi; Price Target: $6.45

• Retained at positive at E&P; Price Target: $7.69 from $6.64

• Retained at neutral at Goldman Sachs; Price Target: $5.30 from $4.20

• Retained at outperform at Macquarie; Price Target: $8.11 from $6.09

• Retained at buy at Moelis Australia; Price Target: $6.19

• Retained at buy at Ord Minnett; Price Target: $7.44 from $7.11

• Retained at outperform at RBC Capital Markets; Price Target: $7.50 from $6.00

• Retained at buy at UBS; Price Target: $8.30 from $6.50

• Downgraded to market-weight from overweight at Wilsons; Price Target: $7.00 from $6.44

Sandfire Resources (SFR)

• Retained at neutral at Macquarie; Price Target: $12.00

• Retained at outperform at RBC Capital Markets; Price Target: $12.25

Sigma Healthcare (SIG)

• Upgraded to hold from sell at Bell Potter; Price Target: $2.85 from $2.00

• Retained at neutral at Citi; Price Target: $3.10 from $2.90

• Retained at underperform at Macquarie; Price Target: $2.50 from $2.60

• Retained at overweight at Morgan Stanley; Price Target: $3.30

• Upgraded to accumulate from hold at Morgans; Price Target: $3.39 from $3.12

Smartgroup Corporation (SIQ)

• Retained at outperform at Macquarie; Price Target: $9.06

Silex Systems (SLX)

• Retained at speculative buy at Canaccord Genuity; Price Target: $6.64 from $6.46

Stanmore Resources (SMR)

• Retained at neutral at Barrenjoey; Price Target: $2.20 from $2.25

Supply Network (SNL)

• Downgraded to neutral from positive at E&P; Price Target: $35.38 from $35.06

Southern Cross Media Group (SXL)

• Retained at underweight at Morgan Stanley; Price Target: $0.65 from $0.52

Tabcorp Holdings (TAH)

• Upgraded to outperform from hold at CLSA; Price Target: $0.99 from $0.75

• Upgraded to positive from neutral at E&P; Price Target: $1.04 from $0.73

• Retained at overweight at Jarden; Price Target: $1.00 from $0.75

• Retained at underweight at JPMorgan; Price Target: $0.70 from $0.55

• Retained at neutral at Macquarie; Price Target: $0.90 from $0.70

• Upgraded to accumulate from hold at Morgans; Price Target: $1.02 from $0.75

• Retained at buy at Ord Minnett; Price Target: $1.02 from $0.64

Telstra Group (TLS)

• Retained at hold at Morgans; Price Target: $4.80 from $4.70

Tyro Payments (TYR)

• Retained at neutral at Macquarie; Price Target: $1.23 from $0.82

• Retained at underweight at Morgan Stanley; Price Target: $1.00 from $0.80

Viva Energy Group (VEA)

• Retained at neutral at Macquarie; Price Target: $2.25 from $2.10

Westpac Banking Corporation (WBC)

• Retained at underweight at Morgan Stanley; Price Target: $32.10 from $29.20

Wildcat Resources (WC8)

• Retained at overweight at Barrenjoey; Price Target: $0.30

Wesfarmers (WES)

• Retained at sell at Citi; Price Target: $60.00

Wagners Holding Company (WGN)

• Retained at accumulate at Morgans; Price Target: $2.75 from $2.10

Worley (WOR)

• Retained at buy at Citi; Price Target: $17.50 from $17.00

• Retained at buy at Jefferies; Price Target: $14.00

• Retained at overweight at JPMorgan; Price Target: $16.45

• Retained at sector perform at RBC Capital Markets; Price Target: $18.00 from $16.50

• Retained at buy at UBS; Price Target: $21.00

Woolworths Group (WOW)

• Retained at hold at Bell Potter; Price Target: $29.80 from $31.90

• Retained at neutral at Citi; Price Target: $31.00 from $33.00

• Downgraded to neutral from outperform at Macquarie; Price Target: $30.30 from $33.40

• Downgraded to equal-weight from overweight at Morgan Stanley; Price Target: $30.50 from $33.40

• Retained at hold at Morgans; Price Target: $28.25 from $31.80

• Retained at buy at Ord Minnett; Price Target: $33.00 from $36.00

• Retained at neutral at UBS; Price Target: $30.00 from $32.00

Wisetech Global (WTC)

• Retained at buy at Bell Potter; Price Target: $127.50 from $135.00

• Downgraded to neutral from positive at E&P; Price Target: $123.00 from $142.00

• Downgraded to underweight from neutral at Jarden; Price Target: $82.00 from $106.00

• Retained at buy at Morgans; Price Target: $127.60 from $132.40

• Downgraded to sector perform from outperform at RBC Capital Markets; Price Target: $120.00 from $130.00

• Retained at buy at UBS; Price Target: $130.00 from $145.00

Wisr (WZR)

• Retained at buy at Shaw and Partners; Price Target: $0.07

Scans