MARKET WRAPS

Evening Wrap: ASX 200 rises on healthcare recovery – CSL, PME and RMD jump as bargain hunters step in

The S&P/ASX 200 closed 18.0 points higher, up 0.20%.

Lead Writer and Presenter
Tue 11 Aug 2026, 17:25 AEST (2h ago)
13 min read

Mentioned

In this article

The ASX 200 edged barely higher as a 5% overnight surge in Brent crude drove energy stocks to their best session since May, while the RBA's unanimous hold at 4.35% was quickly reframed as a "hawkish hold" after Governor Bullock's press conference. This saw stocks give back much of the day's gain into the closing bell...

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. Also, I have detailed technical analysis on the Nasdaq Composite and the S&P/ASX 200 in today's ChartWatch.

Let’s dive in!


Today in Review

Name
Value
% Chg
Major Indices
ASX 2009,250.6
+0.20%
All Ords9,443.7
+0.21%
Small Ords3,570.8
+0.60%
All Tech3,180.4
-0.37%
Emerging Companies3,073.7
+1.02%
Currency
AUD/USD0.7053
-0.01%
US Futures
S&P 5007,774.5
-0.03%
Dow Jones54,024.0
-0.07%
Nasdaq29,758.25
+0.07%
Name
Value
% Chg
Sector
Energy10,849.3
+3.91%
Health Care28,991.5
+2.15%
Utilities9,581.5
+0.98%
Materials25,371.4
+0.51%
Consumer Discretionary4,090.4
+0.22%
Real Estate3,668.5
-0.14%
Communication Services1,684.8
-0.29%
Financials9,768.4
-0.35%
Industrials8,516.1
-0.75%
Information Technology1,913.9
-0.83%
Consumer Staples13,379.1
-1.46%

ASX 200 Intraday Chart

ASX 200 Intraday Chart

Markets

The S&P/ASX 200 (XJO) finished 18.0 points higher at 9,250.6, 0.35% from its session high and 0.19% from its low. Despite the see-saw session at benchmark level, in the broader-based S&P/ASX 300 (XKO) advancers beat decliners by 167 to 111.

Energy (XEJ) (+3.9%) was Tuesday's unambiguous winner after ICE Brent crude futures surged 5% overnight before gaining a further 1.8% to US$89.28/bbl in Asian trade. Why? Do you really care anymore? (Further delays to the Oman-Iran Strait of Hormuz deal!).

Karoon Energy (KAR) (+6.4%), Beach Energy (BPT) (+5.5%), Santos (STO) (+5.4%) — which separately shipped 450,000 barrels of crude from its Pikka Phase 1 Alaska development — and Woodside Energy (WDS) (+3.8%) led the oil and gas names.

Fuel retailers also caught a nice bid: Ampol (ALD) (+3.4%) and Viva Energy (VEA) (+2.3%) both advanced. Elsewhere, coal stocks rose as Newcastle coal futures gained 3.5% to US$136.20/t — Yancoal Australia (YAL) (+2.8%), New Hope Corp. (NHC) (+2.6%), and Whitehaven Coal (WHC) (+2.5%) were all firmer.

ASX 200 Healthcare (XHJ) intraday chart_11 Aug.png
ASX 200 Healthcare (XHJ) intraday chart

Health Care (XHJ) (+2.2%) was the session's second standout, and the story behind its move is as much about where the money came from as where it went. With Westpac's earnings deterioration still fresh in investors' minds from yesterday, conservative fund managers seeking to reduce bank exposure without going to cash found healthcare the natural alternative — large-cap, defensive, and trading at fractions of the multiples that prevailed before this year's damaging earnings downgrades.

ResMed (RMD) (+3.8%) — bouncing from Friday's post-results selling — along with Pro Medicus (PME) (+3.2%), CSL (CSL) (+2.9%), Cochlear (COH) (+2.4%), and Telix Pharmaceuticals (TLX) (+1.9%) all advanced.

ASX 200 Gold (XGD) intraday chart_11 Aug.png
ASX 200 Gold (XGD) intraday chart

Materials (XMJ) (+0.5%) and the Gold Sub-Index (XGD) (+0.4%) both advanced modestly but ran out of steam in the afternoon — after seven consecutive sessions of strong sector performance, profit-taking appeared to cap the gains.

Gold stocks showed the sharpest intraday reversal gold and silver prices faded modestly in Asian trade. Newmont (NEM) (+2.8%) was the day's strongest gold name. Capstone Copper (CSC) (+2.2%), South32 (S32) (+1.0%), BHP (BHP) (+0.6%), and Rio Tinto (RIO) (+0.5%) rounded out Materials movers.

ASX 200 Materials (XMJ) intraday chart_11 Aug.png
ASX 200 Materials (XMJ) intraday chart

Consumer Staples (XSJ) (-1.5%) was the session's worst sector. The RBA's hawkish hold — Bullock repeating multiple times that the board had not even considered rate cuts, that inflation risks were skewed upside, and that further tightening remained possible — removed a layer of consumer spending confidence that had been building since last Tuesday's softer CPI print. Supermarket stocks were the direct expression of that concern — Woolworths (WOW) (-2.0%), Coles (COL) (-1.1%), and Endeavour Group (EDV) (-1.7%) all fell.

Information Technology's (XIJ) (-0.8%) fall was largely due to Life360 (360) (-19.4%), tumbled on disappointment with the quality of the company's second quarter result and forward guidance. Offsetting 360's collapse, Codan (CDA) (+4.2%) and Xero (XRO) (+1.5%) both advanced.

Financials (XFJ) (-0.4%) were modestly lower as the hawkish hold compounded yesterday's Westpac-driven anxiety. With Wednesday's Commonwealth Bank result now on the immediate horizon, investors saw little reason to add bank exposure. ANZ (ANZ) (-1.3%) was the sharpest major bank faller, with Helia (HLI) (+10.2%) the notable exception — rising despite posting a 25.2% drop in half-year net profit, with investors attracted by a special dividend.

Critical minerals and lithium stocks maintained their remarkable run — now six sessions and counting — despite GFEX lithium carbonate futures easing just 0.3% to CNY 145,860/t and NdPr prices holding flat at CNY 726,500/t.

The equity momentum has significantly outpaced the commodity price moves, suggesting the buying is being driven by structural demand expectations and strategic positioning rather than daily price signals.

Core Lithium (CXO) (+11.5%), WA1 Resources (WA1) (+6.2%), Arafura Rare Earths (ARU) (+4.8%), Vulcan Energy Resources (VUL) (+3.4%), IperionX (IPX) (+3.3%), and Lynas Rare Earths (LYC) (+1.3%) were all strongly higher.


Today's best ASX Top 300 gainers

Company
Last Price
Change $
Change %
1mo %
1yr %
Austal (ASB)$4.51+$0.67+17.4%+21.2%-34.3%
Core Lithium (CXO)$0.34+$0.035+11.5%+36.0%+195.7%
Helia Group (HLI)$5.64+$0.52+10.2%0.0%+7.2%
Electro Optic Systems Holdings (EOS)$8.00+$0.49+6.5%-4.9%+60.6%
Karoon Energy (KAR)$1.75+$0.105+6.4%+23.7%-9.3%
WA1 Resources (WA1)$13.51+$0.79+6.2%+10.5%-28.9%
Beach Energy (BPT)$0.87+$0.045+5.5%-0.6%-33.6%
Santos (STO)$8.06+$0.41+5.4%+5.8%+2.4%
FireFly Metals (FFM)$2.00+$0.095+5.0%+11.1%+89.7%
Arafura Rare Earths (ARU)$0.22+$0.01+4.8%-6.4%+7.3%
Magellan Financial Group (MFG)$11.02+$0.50+4.8%+11.0%+4.0%
Benz Mining Corp (BNZ)$4.10+$0.17+4.3%+58.9%+316.2%
Lindian Resources (LIN)$0.86+$0.035+4.2%+5.5%+537.0%
Codan (CDA)$40.75+$1.63+4.2%-5.9%+72.4%
Woodside Energy Group (WDS)$33.01+$1.22+3.8%+13.6%+22.2%
ResMed Inc. (RMD)$31.23+$1.14+3.8%+4.0%-28.2%
Ampol (ALD)$39.80+$1.30+3.4%+12.8%+46.9%
Vulcan Energy Resources (VUL)$3.07+$0.10+3.4%+7.0%-8.5%
IperionX (IPX)$3.72+$0.12+3.3%+3.6%-36.8%
Centuria Industrial REIT (CIP)$3.13+$0.10+3.3%+4.7%-6.0%

Today's worst ASX Top 300 losers

Company
Last Price
Change $
Change %
1mo %
1yr %
Life360 Inc (360)$23.75-$5.73-19.4%-7.5%-37.2%
Arena REIT (ARF)$2.24-$0.32-12.5%-30.9%-40.9%
SGH (SGH)$41.58-$4.76-10.3%-6.1%-19.8%
4DMedical (4DX)$4.08-$0.32-7.3%+3.0%+750.0%
Insurance Australia Group (IAG)$8.02-$0.33-4.0%-2.1%-2.0%
Charter Hall Social Infrastructure REIT (CQE)$2.55-$0.09-3.4%-2.3%-21.1%
L1 Gold Fund (LGF)$2.08-$0.07-3.3%+4.0%+2.5%
Qantas Airways (QAN)$10.12-$0.33-3.2%-2.8%-7.2%
Pantoro Gold (PNR)$2.50-$0.08-3.1%+19.6%-39.2%
Bank of Queensland (BOQ)$6.62-$0.21-3.1%+5.1%-14.9%
Judo Capital Holdings (JDO)$0.955-$0.03-3.0%+3.8%-41.8%
Macmahon Holdings (MAH)$0.98-$0.03-3.0%+8.3%+176.1%
L1 Global Long Short Fund (GLS)$2.08-$0.06-2.8%0.0%+47.6%
DroneShield (DRO)$2.12-$0.06-2.7%-7.4%-46.3%
Develop Global (DVP)$4.96-$0.14-2.7%-17.7%+15.3%
Ingenia Communities Group (INA)$4.31-$0.12-2.7%-0.7%-22.3%
IPH (IPH)$4.27-$0.11-2.5%+7.0%-21.2%
Perenti (PRN)$2.33-$0.06-2.5%+6.4%+18.0%
Virgin Australia Holdings (VGN)$2.74-$0.07-2.5%-8.1%-16.5%
Zip Co (ZIP)$2.74-$0.07-2.5%-12.5%-16.5%

Chartwatch

Nasdaq Composite Index

Nasdaq Composite Index chart

Analysis

Blip. Nothing. Well, very little. Very little in terms of price action and volume.

So, let’s just go with ditto vs Friday’s candle’s analysis.

Which is information in its own right…

Monday’s candle tells us that nothing has materially changed in the demand-supply environment. It confirms the status quo: that the demand side control that existed prior to Monday’s candle remains intact.

That’s the key.

26789-27191 is supply = we’re watching the candles very closely in there:

  • Strong demand side candle (long white body and or downward pointing shadow with close near session high) = MOTN P ⬆️

  • Strong supply side candle (long black body and or upward pointing shadow with close near session low) = MOTN P ➡️ or ⬇️

View

I am 2/3RP on US stocks. (RP = Risk Position — it reflects my personal allowable capital allocation limit for my investments in US stocks. So 1/2RP is 50%, 2/3RP is 67% and FRP is 100%).

Key Levels

26789-27191 is the key zone of supply vs the short term trend ribbon (presently 225778-25814) is the key zone of demand.


S&P/ASX 200 (XJO)

S&P/ASX 200 (XJO) chart

Analysis

Well the good news is: we've lasted up here longer than we did at the March peak! 🤦

The bad news? 🤔

Looking at the chart above, I can't really see any bad news!

Trends (ST 🟩 + LT 🟩), price action (rising peaks + rising troughs 📈) and candles (🕯️⬜ + downward pointing shadows) continue to indicate an environment of strong demand side control. ✅

Volume is benign: little engagement by the supply side to go along with their so-far lack of motivation. ✅

Consider: ASX share prices are on the whole as high as they've ever been — yet there's little demand for cash as an alternative and little desire to offer at lower prices.

We call this: HOFU! Holding on for upside = A typical bull market trait. 💪

We just need a little more motivation from the demand side to take us to the next level... and the next.

But nothing goes up in a straight line. The demand side regularly takes a breather – even in strong and healthy bull markets... chewing through the limited supply that's prevalent in the market... until that supply is consumed... and higher prices must be bid to acquire more stock.

That's when FOMO kicks in = Fear of missing out. And, assuming we're still HOFU — we'll get the next leg up! 🦵

View

I am FRP on Aussie stocks. (My personal allowable capital allocation limit for my investments in ASX stocks is now 100%).

Key Levels

There is no key point of supply to contend with, while demand is at 8940 and then at the short term uptrend ribbon (presently 8904-8962).

(Glossary of acronyms! Old Tin Pot (OTP): S&P/ASX 200 | MOTN: More Often Than Not | FOMO: Fear Of Missing Out | HOFU: Holding On For Upside | BTD: Buy The Dip | NUTE: No Urgency To Enter | FOHO: Fear Of Holding On | STR: Sell The Rally | RP: Risk Position | FFS: Fund Flow Shenanigans!)

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Economy

TODAY

  • 14:30 AUS Reserve Bank of Australia (RBA) Official Cash Rate: No change at +4.35% p.a. as per forecast

  • RBA Governor Michelle Bullock press conference

    • Inflation remains too high and the Board is concerned about upside risks to inflation...

    • The domestic economy continues to operate above capacity and the labour market remains tight... productivity growth is too low, and continued weakness will constrain the economy's ability to grow without generating high inflation...

    • We expect that a period of subdued growth in the economy will be required to bring inflation down substantially...

    • The Board is determined to ensure that expectations of higher inflation do not become embedded in price and wage setting decisions...

    • The Board kept the cash rate on hold this meeting to assess whether the economy is evolving as expected, however the forecasts are uncertain and there remains upside risks to inflation...

    • The Board will raise interest rates further if that is what's required to bring inflation down in a meaningful way...

LATER THIS WEEK

Wednesday

  • 22:00 USA July CPI

    • Headline: +0.1% m/m and +3.4% p.a. forecast vs -0.4% m/m and +3.5% p.a. previous

    • Core: +0.2% m/m and +2.5% p.a. forecast vs +0.0% m/m and +2.6% p.a. previous

Thursday

  • TBC CHN July M2 Money Supply & New Loans

  • 22:00 USA July Core PPI (+0.3% m/m forecast vs +0.2% m/m previous)

Friday

  • 09:30 AUS RBA Governor Michelle Bullock speaks

  • 12:30 AUS July CB Leading Index

  • 22:00 USA July Core Retail Sales (+0.2% m/m forecast vs -0.2% m/m previous)

Saturday

  • 00:00 USA Preliminary July University of Michigan Consumer Sentiment (54.4 forecast vs 55.2 previous)

  • 00:00 USA Preliminary July University of Michigan Inflation Expectations


Interesting Movers

Trading higher

  • Austal (ASB) $4.51
    +17.5%

    Guided to FY2026 EBIT of approx. A$62 million (unaudited). Also, has received an indicative, non-binding and conditional offer from Hanwha Defence USA to acquire the business entities and operations of Austal USA for an indicative enterprise value of US$1.05–1.20 billion on a cash and debt-free basis.

  • Chrysos Corporation (C79) $7.56
    +17.2%

    Reported FY26 results: EBITDA $27.2 million, +68% vs previous corresponding period (pcp) and at the upper end of prior guidance. EBITDA margin improved to 31% compared to 24% in FY25.

  • Resolution Minerals (RML) $0.05
    +13.9%

    No news. Performance reflected general strength in the broader precious metals sector.

  • Core Lithium (CXO) $0.34
    +11.5%

    Released results from extensional drilling at the company's BP33 project. 34.08m @ 2.09% Li2O from 578.70m. Additional drilling is underway, as is drilling at the Blackbeard project.

  • Helia Group (HLI) $5.64
    +10.2%

    Reported H1 FY26 results: underlying NPAT A$106.3 million -16% vs pcp.

  • Artrya (AYA) $4.82
    +8.8%

    No news. 🤔

  • St George Mining (SGQ) $0.09
    +8.5%

    Reported an upgrade to the Mineral Resource Estimate (MRE) for the company's 100%-owned Araxá Project in Minas Gerais, Brazil. The updated MRE has increased to 111.2Mt @ 3.57% TREO, 0.70% MREO, 0.68% NdPr and 0.57% Nb₂O₅.

  • Arafura Rare Earths (ARU) $0.23
    +7.1%

    No news. Performance reflected general strength in the broader critical minerals sector.

  • Karoon Energy (KAR) $1.75
    +6.4%

    No news. Performance reflected general strength in the broader energy sector on 5% surge in Brent crude oil futures overnight.

  • WA1 Resources (WA1) $13.51
    +6.2%

    No news. Performance reflected general strength in the broader critical minerals sector.

  • BetaShares Crude Oil Index ETF-Currency Hedged (Synthetic) (OOO) $8.39
    +5.7%

    No news. Performance reflected general strength in the broader energy sector on 5% surge in Brent crude oil futures overnight.

  • Beach Energy (BPT) $0.87
    +5.5%

    No news. Performance reflected general strength in the broader energy sector on 5% surge in Brent crude oil futures overnight.

  • Santos (STO) $8.03
    +4.9%

    No news. Performance reflected general strength in the broader energy sector on 5% surge in Brent crude oil futures overnight.

  • Newmont Corporation (NEM) $166.96
    +4.7%

    Reached an agreement that concludes all outstanding disputes between it and Barrick Mining Corporation related to the companies' NGM joint venture. Newmont has provided its consent to Barrick’s proposed IPO of its North American gold assets.

  • Woodside Energy Group (WDS) $32.99
    +3.8%

    No news. Performance reflected general strength in the broader energy sector on 5% surge in Brent crude oil futures overnight.

Trading Lower

  • Life360 Inc (360) $23.75
    -19.4%

    Reported Q2 and H1 FY26 results. Analysts were disappointed with Q3-Q4 margin guidance and monthly active user (MAU) growth.

  • Amotiv (AOV) $6.41
    -13.5%

    Reported FY26 results: Underlying EBITA of $195.1 million, +1.6% and in line with prior guidance. StreetAccount had $176.5 million as consensus, but during company's analyst call, management warned that subdued market conditions would likely persist into FY27, and guided to only modest earnings growth.

  • Coronado Global Resources Inc (CRN) $0.17
    -10.5%

    Reported Q2 and H1 FY26 results: Q2 NPAT -$98.7 million vs -$69.2M pcp.

  • SGH (SGH) $41.58
    -10.3%

    Reported FY26 results: Underlying EBIT $1.55 billion, +up 1% and in-line with prior guidance. StreetAccount had consensus at $1.58 billion = ~2% miss. FY27 EBIT guidance of "flat to low single-digit growth" was below market expectations.

  • Starpharma Holdings (SPL) $0.74
    -7.6%

    Raised $32 million before costs via a fully underwritten 1 for 7.5 renounceable pro rata entitlement offer at an issue price of $0.57.

  • 4DMedical (4DX) $4.08
    -7.3%

    No news. 🤔


Broker Moves

Company
Broker
Action
Rating
Price Target
ARFArena REIT
CLSADowngraded
Hold
$2.63
Morgan StanleyDowngraded
Underweight
$2.65
Ord MinnettDowngraded
Hold
$2.85
UBSDowngraded
Neutral
$2.71
BETBetmakers Technology Group
CLSARetained
Outperform
$1.08
E&PRetained
Neutral
$0.91
JardenRetained
Overweight
$1.05
Morgan StanleyUpgraded
Equal Weight
$0.96
Ord MinnettDowngraded
Hold
$0.24
BOQBank of Queensland
CLSARetained
Hold
$6.20
JardenRetained
Sell
$5.50
JPMorganRetained
Neutral
$6.30
MacquarieRetained
Underperform
$5.50
CARCAR Group
JardenRetained
Buy
$29.50
JPMorganRetained
Overweight
$35.00
MorgansRetained
Buy
$34.00
Ord MinnettRetained
Buy
$35.00
RBC Capital MarketsRetained
Outperform
$35.00
IDXIntegral Diagnostics
Bell PotterRetained
Buy
$3.60
CLSARetained
Outperform
$2.45
JardenRetained
Buy
$2.95
RBC Capital MarketsRetained
Outperform
$2.60
IMDImdex
JardenUpgraded
Underweight
$3.80
NSTNorthern Star Resources
Bank of AmericaDowngraded
Underperform
$23.00
OMLOohmedia
Canaccord GenuityDowngraded
Hold
$1.70
E&PDowngraded
Neutral
$1.70
TWETreasury Wine Estates
JefferiesRetained
Hold
$5.20
JPMorganRetained
Neutral
$5.90
RBC Capital MarketsRetained
Sector Perform
$5.10
UBSRetained
Neutral
$6.25
VMMViridis Mining and Minerals
Ord MinnettRetained
Speculative Buy
$6.00
WBCWestpac Banking Corporation
JPMorganRetained
Underweight
$33.60
MacquarieRetained
Underperform
$30.00
Morgan StanleyRetained
Underweight
$30.00
Ord MinnettUpgraded
Lighten
$31.00

Scans

Top Gainers

Code
Company
Last
% Chg
ACSAccent Resources NL$0.10+614.29%
MIOMacarthur Minerals Ltd$0.028+33.33%
RWLRubicon Water Ltd$0.12+33.33%
LKELake Resources N.L.$0.057+26.67%
TETTetragon Energy Ltd$0.23+24.32%
View all top gainers

Top Fallers

Code
Company
Last
% Chg
WTNWinton Land Ltd$1.37-36.87%
ABEAustralian Bond Exchange Holdings Ltd$0.013-35.00%
OZZOZZ Resources Ltd$0.039-29.09%
10XExultant Mining Ltd$0.13-21.21%
CTOCitigold Corporation Ltd$0.012-20.00%
View all top fallers

52 Week Highs

Code
Company
Last
% Chg
ACSAccent Resources NL$0.10+614.29%
NZKNew Zealand King Salmon Investments Ltd$0.22+18.92%
KRRKing River Resources Ltd$0.078+14.71%
CNQClean TEQ Water Ltd$0.60+10.09%
ELKELK Range Mining Ltd$0.19+5.56%
View all 52 week highs

52 Week Lows

Code
Company
Last
% Chg
WTNWinton Land Ltd$1.37-36.87%
OZZOZZ Resources Ltd$0.039-29.09%
10XExultant Mining Ltd$0.13-21.21%
MCAMurray Cod Australia Ltd$0.115-17.86%
ARFArena REIT$2.24-12.50%
View all 52 week lows

Near Highs

Code
Company
Last
% Chg
GLPRiShares Ftse GBL Property Ex Aus (Aud Hedged) ETF$28.70-1.07%
RHCRamsay Health Care Ltd$45.07+0.56%
AN3PIAustralia and New Zealand Banking Group Ltd$103.09+0.28%
WVOLiShares MSCI World Ex Aust Minimum Volatility ETF$46.44+0.24%
PYCPYC Therapeutics Ltd$2.14+2.39%
View all near highs

Relative Strength Index (RSI) Oversold

Code
Company
Last
% Chg
ARFArena REIT$2.24-12.50%
BBOZBetashares Aus Equities Strong Bear Complex ETF$19.28-0.36%
CNICenturia Capital Group$1.47-1.34%
LGILGI Ltd$1.96-5.31%
View all RSI oversold

ABOUT THE AUTHOR

Lead Writer and Presenter

Carl brings more than 30 years of investing experience and a track record of helping thousands of investors navigate every kind of market. A highly regarded commentator on global macro trends and their impact on Australian and US equities, he is also one of Australia's most recognised educators in technical analysis — having taught his distinctive price-action trend following methodology to two generations of investors.

11/08/2026