The ASX 200 slipped in a relatively uneventful session, with no lead from Wall Street after US markets closed last Friday for Independence Day. Banks and miners finished broadly lower and weighed on the benchmark, while the high-flying healthcare and discretionary sectors kept trending higher. Overall, another dicey day for the ASX, and zooming out, a directionless period for the index.
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.
I'm covering for Carl, who will be back tomorrow :)
Let’s dive in!
Today in Review
Name | Value | % Chg |
|---|---|---|
Major Indices | ||
| ASX 200 | 8,831.0 | -0.15% |
| All Ords | 9,037.0 | -0.13% |
| Small Ords | 3,434.5 | -0.15% |
| All Tech | 3,032.5 | +0.54% |
| Emerging Companies | 3,020.5 | -0.01% |
Currency | ||
| AUD/USD | 0.6939 | +0.24% |
US Futures | ||
| S&P 500 | 7,553.75 | +0.34% |
| Dow Jones | 53,194.0 | +0.02% |
| Nasdaq | 29,827.75 | +0.92% |
Name | Value | % Chg |
|---|---|---|
Sector | ||
| Health Care | 27,426.6 | +1.50% |
| Information Technology | 1,803.4 | +0.93% |
| Energy | 9,499.7 | +0.45% |
| Consumer Discretionary | 3,931.1 | +0.42% |
| Communication Services | 1,605.6 | +0.19% |
| Real Estate | 3,636.3 | +0.19% |
| Industrials | 8,454.8 | -0.18% |
| Financials | 9,370.3 | -0.34% |
| Consumer Staples | 13,059.0 | -0.60% |
| Materials | 23,908.0 | -0.63% |
| Utilities | 9,252.3 | -0.79% |
ASX 200 Intraday Chart
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Markets
ASX 200 traded within a narrow range (+0.14% vs. -0.30%), closing the session down 0.21%
Healthcare (+1.5%) was the best performing sector, now up 23% since the 3-Jun low. The sector has shown a massive change of character in recent weeks, trading meaningfully above the 50-day for the first time since Aug-25, with the 50-day now sloping positive. It's climbed in 17 of the last 22 sessions, moving so cleanly we haven't even had the chance to trot out 'higher highs and higher lows'. The battered CSL and Cochlear have led the move, but both companies haven't announced anything since their latest earnings downgrades.
Tech (+0.9%) had slightly negative breadth, but the index higher off the back of Wisetech (+7.3%)
Discretionary (+0.4%) rose for a second session after a three-day pullback. This is another sector that's piqued my interest. It fell as much as 30% from its Aug-25 high, then recouped around half of that (up 20% from the 13-May low). Could this be a classic 'the market bottoms before earnings' scenario?
Industrials (-0.2%) held up but quite a few high-flying names faced heavy selling, including Ventia (-3.4%), NRW (-2.9%), Mondaelphous (-2.2%), Tasmea (-7.0%).
Financials (-0.3%) off lows of -0.6%, closing just above the 200-day. Nothing much to see here.
Materials (-0.6%) eased after rallying 2.5% last Friday. That was the session where the index opened around 1% higher and surged around 11 am as most commodity prices kicked on. It looks like most of that optimism was already priced in and failed to follow through today.
Today's best ASX Top 300 gainers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Clarity Pharmaceuticals (CU6) | $2.63 | +$0.42 | +19.0% | +16.9% | -10.5% |
| Vault Minerals (VAU) | $5.09 | +$0.53 | +11.6% | +22.9% | +93.4% |
| Wisetech Global (WTC) | $35.37 | +$2.41 | +7.3% | -11.2% | -68.4% |
| PWR Holdings (PWH) | $8.74 | +$0.54 | +6.6% | -1.7% | +20.9% |
| Southern Cross Gold Consolidated (SX2) | $9.83 | +$0.51 | +5.5% | -5.7% | +43.5% |
| Nufarm (NUF) | $2.73 | +$0.12 | +4.6% | -3.2% | +10.5% |
| DroneShield (DRO) | $2.52 | +$0.11 | +4.6% | -11.9% | +7.2% |
| Mercury NZ (MCY) | $5.65 | +$0.21 | +3.9% | -1.2% | -0.7% |
| Core Lithium (CXO) | $0.30 | +$0.01 | +3.4% | +11.1% | +172.7% |
| Bellevue Gold (BGL) | $1.375 | +$0.045 | +3.4% | -0.7% | +48.6% |
| Telix Pharmaceuticals (TLX) | $17.38 | +$0.50 | +3.0% | +30.6% | -28.2% |
| L1 Group (L1G) | $1.235 | +$0.035 | +2.9% | +20.5% | +152.0% |
| HUB24 (HUB) | $83.36 | +$2.32 | +2.9% | -0.6% | -9.1% |
| Growthpoint Properties Australia (GOZ) | $2.18 | +$0.06 | +2.8% | +1.9% | -10.7% |
| 4DMedical (4DX) | $4.36 | +$0.11 | +2.6% | +9.8% | +1679.6% |
| Nanosonics (NAN) | $3.43 | +$0.08 | +2.4% | +7.9% | -10.9% |
| Summerset Group Holdings (SNZ) | $7.35 | +$0.17 | +2.4% | +7.5% | -31.2% |
| Cochlear (COH) | $127.86 | +$2.90 | +2.3% | +27.3% | -57.5% |
| PEXA Group (PXA) | $8.73 | +$0.19 | +2.2% | -18.9% | -32.1% |
| MA Financial Group (MAF) | $6.44 | +$0.14 | +2.2% | +7.3% | -14.1% |
Today's worst ASX Top 300 losers
Company | Last Price | Change $ | Change % | 1mo % | 1yr % |
|---|---|---|---|---|---|
| Tasmea (TEA) | $8.31 | -$0.60 | -6.7% | +1.0% | +136.8% |
| EQ Resources (EQR) | $0.28 | -$0.02 | -6.7% | +21.7% | +536.4% |
| Sunrise Energy Metals (SRL) | $16.66 | -$1.09 | -6.1% | +21.4% | +1380.9% |
| Weebit Nano (WBT) | $7.41 | -$0.46 | -5.8% | -1.9% | +308.3% |
| Lindian Resources (LIN) | $0.90 | -$0.055 | -5.8% | +17.6% | +847.4% |
| Brazilian Rare Earths (BRE) | $4.35 | -$0.22 | -4.8% | -12.8% | +102.3% |
| Genesis Minerals (GMD) | $6.03 | -$0.26 | -4.1% | +12.5% | +42.6% |
| Elevra Lithium (ELV) | $10.13 | -$0.43 | -4.1% | -8.2% | +297.3% |
| Austal (ASB) | $4.04 | -$0.15 | -3.6% | +1.5% | -31.4% |
| Ventia Services Group (VNT) | $5.95 | -$0.21 | -3.4% | -4.5% | +16.4% |
| Ramelius Resources (RMS) | $3.11 | -$0.10 | -3.1% | +2.0% | +30.7% |
| Westgold Resources (WGX) | $4.93 | -$0.15 | -3.0% | +0.8% | +73.0% |
| Liontown (LTR) | $1.655 | -$0.05 | -2.9% | -22.7% | +119.2% |
| AMP (AMP) | $1.665 | -$0.05 | -2.9% | +9.5% | +16.8% |
| NRW Holdings (NWH) | $7.02 | -$0.21 | -2.9% | -2.0% | +131.7% |
| Cobram Estate Olives (CBO) | $4.00 | -$0.11 | -2.7% | +0.8% | +86.0% |
| Champion Iron (CIA) | $3.94 | -$0.10 | -2.5% | -7.3% | -11.9% |
| Eagers Automotive (APE) | $21.33 | -$0.54 | -2.5% | +2.5% | +18.9% |
| Mader Group (MAD) | $7.99 | -$0.20 | -2.4% | -6.1% | +15.8% |
| Bravura Solutions (BVS) | $2.03 | -$0.05 | -2.4% | -13.6% | -1.9% |
Economy
Today
AUS June ANZ Job Advertisements eased 0.2% vs +2.0% in May
Later this week
Tuesday
00:00 USA June Institute for Supply Management (ISM) Purchasing Managers Index (PMI) (54.2 forecast vs 54.5 in May)
22:15 USA May Trade Balance (-78.5 billion forecast vs -55.9 billion in April)
Wednesday
12:00 NZ RBNZ Official Cash Rate (+0.25% p.a. to 2.50% forecast)
Thursday
04:00 USA FOMC June Meeting Minutes
10:30 USA Weekly Unemployment Claims (218,000 forecast vs 215,000 previous)
Friday
00:00 USA June Existing Home Sales (4.2 million forecast vs 4.17 million in May)
Saturday
TBC USA Fed Monetary Policy Report & Fed Chairman Kevin Warsh Senate address
Interesting Movers
Trading higher
- Vault Minerals (VAU) $5.09+11.6%
rose after it announced receipt of a 'superior' binding proposal from Genesis Minerals valuing Vault at $5.274 per share (consideration of 0.7629 new Genesis shares plus $0.475 cash per Vault share).
- Select Harvests (SHV) $3.96+7.6%
rose after it announced no news, though agriculture peers like Nufarm (+4.6%) traded higher.
- Wisetech Global (WTC) $35.37+7.3%
rallied off no news. The stock is still trading below 22-Jun levels, when it sold off 18.4% after the AFP's human exploitation taskforce opened an investigation into founder Richard White.
- Boss Energy (BOE) $1.36+6.3%
rose after Macquarie upgraded to Outperform and lifted its 12-month target 35% to $1.75 citing higher Gould's Dam and Jason values and a firmer strategic uranium inventory valuation. The analysts see improved risk/reward ahead of an accelerated feasibility study and investor day, with growing confidence in Honeymoon's wider-spaced wellfield approach.
Trading Lower
- Lindian Resources (LIN) $0.90-5.8%
dipped as rare earth peers like Hastings (-9.8%), Dateline (-7.1%), Brazilian Rare Earths (-4.8%), Iluka (-1.7%) and Lynas (-0.8%) traded broadly lower.
- Genesis Minerals (GMD) $6.03-4.1%
fell after its strategically superior bid for Vault Minerals.
- Elevra Lithium (ELV) $10.13-4.1%
fell on no news, though lithium peers including Liontown (-2.9%) and PLS Group (-1.7%) traded broadly lower.
Broker Moves
Company | Broker | Action | Rating | Price Target |
|---|---|---|---|---|
360Life360 Inc | Citi | Retained | Buy | $31.95(from $28.25) |
ACEAcusensus | Ord Minnett | Initiated | Buy | $1.49 |
ALDAmpol | Morgan Stanley | Retained | Overweight | $35.00 |
AMPAMP | Jarden | Downgraded | Neutral(from Overweight) | $1.80(from $1.75) |
| Macquarie | Downgraded | Neutral(from Outperform) | $1.82(from $1.94) | |
AOVAmotiv | Macquarie | Retained | Outperform | $11.90 |
APEEagers Automotive | Canaccord Genuity | Retained | Buy | $28.50 |
| Macquarie | Retained | Outperform | $27.10 | |
APZAspen Group | Citi | Retained | Buy | $5.40 |
ARBARB Corporation | Canaccord Genuity | Retained | Hold | $21.80 |
| Citi | Retained | Neutral | $17.40 | |
| Macquarie | Retained | Outperform | $29.95 | |
ASBAustal | Bell Potter | Retained | Hold | $4.10(from $6.30) |
BAPBapcor | Macquarie | Retained | Neutral | $0.44 |
BGLBellevue Gold | Jarden | Upgraded | Overweight(from Neutral) | $1.35 |
BMNBannerman Energy | JPMorgan | Upgraded | Overweight(from Neutral) | $3.90(from $4.00) |
BOEBoss Energy | Canaccord Genuity | Retained | Speculative Buy | $2.50 |
| Macquarie | Upgraded | Outperform(from Neutral) | $1.75(from $1.30) | |
| Ord Minnett | Retained | Hold | $1.40 | |
BPTBeach Energy | Morgan Stanley | Upgraded | Equal Weight(from Underweight) | $0.88(from $1.20) |
CARCAR Group | Morgans | Retained | Buy | $33.40(from $33.50) |
CHCCharter Hall Group | Citi | Retained | Buy | $26.50 |
| Macquarie | Downgraded | Neutral(from Outperform) | $23.44(from $21.22) | |
| Morgan Stanley | Retained | Overweight | $26.89 | |
CMMCapricorn Metals | Jarden | Upgraded | Buy(from Overweight) | $16.00(from $13.80) |
COGCOG Financial Services | Morgans | Retained | Buy | $1.92(from $2.09) |
COLColes Group | UBS | Retained | Buy | $25.50 |
DRRDeterra Royalties | JPMorgan | Downgraded | Neutral(from Overweight) | $5.10 |
DXSDexus | Citi | Retained | Neutral | $6.50 |
EBOEBOS Group | Citi | Retained | Buy | $24.50(from $26.00) |
FMGFortescue | JPMorgan | Upgraded | Overweight(from Neutral) | $24.00 |
FPRFleetPartners Group | Macquarie | Retained | Outperform | $3.41 |
GDGGeneration Development Group | Morgans | Retained | Buy | $6.28(from $6.16) |
GLFGemlife Communities Group | Citi | Retained | Buy | $5.50 |
GMDGenesis Minerals | Citi | Retained | Buy | $10.00 |
GMGGoodman Group | Macquarie | Retained | Outperform | $35.40(from $32.03) |
GOZGrowthpoint Properties Australia | Macquarie | Upgraded | Outperform(from Neutral) | $2.47(from $2.02) |
GPTGPT Group | Macquarie | Retained | Outperform | $5.37(from $4.97) |
ILUIluka Resources | Ord Minnett | Retained | Buy | $8.50(from $9.00) |
IMBIntelligent Monitoring Group | Canaccord Genuity | Retained | Buy | $1.25(from $1.05) |
INAIngenia Communities Group | Citi | Retained | Buy | $5.42 |
IPGIPD Group | Shaw and Partners | Retained | Buy | $5.85 |
JDOJudo Capital Holdings | Morgan Stanley | Retained | Overweight | $1.25(from $1.85) |
KARKaroon Energy | Morgan Stanley | Retained | Equal Weight | $1.58(from $1.91) |
LTRLiontown | JPMorgan | Upgraded | Overweight(from Neutral) | $2.30(from $2.50) |
MAFMA Financial Group | Morgans | Retained | Buy | $8.56(from $10.93) |
MFGMagellan Financial Group | Morgans | Downgraded | Hold(from Buy) | $11.29 |
MGRMirvac Group | Citi | Retained | Buy | $2.00 |
| Macquarie | Retained | Outperform | $2.17(from $2.22) | |
MM1Midas Minerals | Canaccord Genuity | Retained | Speculative Buy | $1.50 |
MMSMcMillan Shakespeare | Macquarie | Retained | Neutral | $18.80 |
NGINavigator Global Investments | Morgans | Retained | Buy | $3.39(from $3.42) |
ORGOrigin Energy | Morgan Stanley | Retained | Underweight | $10.35(from $11.00) |
PNIPinnacle Investment Management Group | Morgans | Retained | Buy | $23.94(from $24.70) |
PXAPEXA Group | Macquarie | Retained | Outperform | $16.00(from $19.30) |
| Morgans | Downgraded | Hold(from Accumulate) | $9.35(from $14.23) | |
| UBS | Retained | Neutral | $9.80(from $12.80) | |
REAREA Group | Morgans | Retained | Buy | $199.00(from $219.00) |
SCGScentre Group | Citi | Retained | Buy | $4.40 |
| Macquarie | Retained | Underperform | $3.50(from $3.45) | |
SEKSEEK | Morgans | Retained | Buy | $23.60(from $25.10) |
SGPStockland | Citi | Retained | Buy | $5.10 |
SIQSmartgroup Corporation | Macquarie | Retained | Outperform | $11.49 |
STOSantos | Morgan Stanley | Upgraded | Overweight(from Equal Weight) | $7.67(from $7.50) |
SUNSuncorp Group | Citi | Retained | Neutral | $19.25(from $17.50) |
| CLSA | Retained | Outperform | $19.85(from $18.00) | |
| Goldman Sachs | Retained | Neutral | $20.00 | |
| Jarden | Retained | Neutral | $19.60(from $19.70) | |
| Morgans | Retained | Hold | $18.89 | |
| Ord Minnett | Retained | Hold | $18.50(from $19.50) | |
| UBS | Retained | Buy | $20.80(from $19.60) | |
SVRSolvar | Canaccord Genuity | Retained | Buy | $1.80(from $2.00) |
TCLTransurban Group | UBS | Retained | Neutral | $14.50(from $14.40) |
TLCThe Lottery Corporation | Citi | Downgraded | Sell(from Neutral) | $5.00 |
TYRTyro Payments | Morgans | Retained | Buy | $1.48(from $1.55) |
VEAViva Energy Group | Morgan Stanley | Retained | Equal Weight | $2.39 |
WDSWoodside Energy Group | Morgan Stanley | Upgraded | Equal Weight(from Underweight) | $28.00 |
WOWWoolworths Group | UBS | Retained | Neutral | $34.50 |
Scans
Top Gainers
Code | Company | Last | % Chg |
|---|---|---|---|
| TSR | Turnstone Resources Ltd | $0.022 | +46.67% |
| NPM | Newpeak Metals Ltd | $0.021 | +40.00% |
| CLU | Cluey Ltd | $0.015 | +36.36% |
| CYP | Cynata Therapeutics Ltd | $0.016 | +23.08% |
| KAL | Kalgoorlie Gold Mining Ltd | $0.033 | +22.22% |
Top Fallers
Code | Company | Last | % Chg |
|---|---|---|---|
| SEG | Sports Entertainment Group Ltd | $0.305 | -17.57% |
| BMH | Baumart Holdings Ltd | $0.02 | -16.67% |
| LKO | Lakes Blue Energy NL | $0.58 | -15.94% |
| 1CG | One Click Group Ltd | $0.012 | -14.29% |
| AKG | Academies Australasia Group Ltd | $0.06 | -14.29% |
52 Week Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| JGH | Jade Gas Holdings Ltd | $0.12 | +4.35% |
| APW | Aims Property Securities Fund | $4.20 | +2.69% |
| ENN | Elanor Investors Group | $0.10 | +2.04% |
| CVW | Clearview Wealth Ltd | $0.65 | +1.56% |
| PIA | Pengana International Equities Ltd | $1.315 | +0.77% |
52 Week Lows
Code | Company | Last | % Chg |
|---|---|---|---|
| AKG | Academies Australasia Group Ltd | $0.06 | -14.29% |
| BKT | Black Rock Mining Ltd | $0.011 | -8.33% |
| MML | Mclaren Minerals Ltd | $0.011 | -8.33% |
| SNS | Sensen Networks Ltd | $0.022 | -8.33% |
| VTA | Vita Resources NL | $0.026 | -7.14% |
Near Highs
Code | Company | Last | % Chg |
|---|---|---|---|
| CNEW | Vaneck China New Economy ETF | $8.24 | -0.48% |
| MYE | Mastermyne Group Ltd | $0.30 | 0.00% |
| HGBL | Betashares Global Shares Currency Hedged ETF | $84.82 | +0.53% |
| MQGPG | Macquarie Group Ltd | $104.71 | +0.01% |
| DGVA | Dimensional Global Value Trust - Active ETF | $30.01 | -0.76% |
Relative Strength Index (RSI) Oversold
Code | Company | Last | % Chg |
|---|---|---|---|
| INIF | Intelligent Investor Aus EQ Inc Fund - Active ETF | $2.71 | +0.37% |
| VBND | Vanguard Global Aggregate Bond INDEX (Hedged) ETF | $39.51 | +0.13% |
| WOR | Worley Ltd | $10.78 | +0.09% |
| DIFF | Perpetual Diversified Income Active ETF | $10.03 | +0.10% |
| ABB | Aussie Broadband Ltd | $4.73 | -0.84% |
