Australian shares retreat from record levels
Near noon on Monday, the benchmark S&P/ASX200 index had given up three-quarters of Friday's gains, dropping 86.1 points, or 0.98 per cent, to 8,671.1, while the broader All Ordinaries was down 82.4 points, or 0.94 per cent, to 8,921.8.
Investors' attention would be fully captured by stocks this week as US company reporting season hit full stride and a number of important Australian companies addressed shareholders, Moomoo market strategist Michael McCarthy said.
It might be a hectic week for markets, he added, with a number of US Federal Reserve board members speaking publicly, the release of New Zealand inflation data as well as a gauge of Australian and US business activity known as the purchasing manager index.
At midday, nine of the ASX's 11 sectors were in the red, with energy and materials up marginally.
The financial sector was the biggest loser, dropping 1.8 per cent.
ANZ had fallen 2.3 per cent, Westpac was down 3.1 per cent, CBA had retreated 2.0 per cent and NAB had fallen 2.2 per cent.
But AMP was up 8.8 per cent to a five-month high of $1.67 after the financial services company said it had recorded its first quarter of positive cashflows into its superannuation business since the second quarter of 2017, when it was scrutinised by the financial services royal commission.
"This reflects our continued efforts to build a compelling member proposition which is delivering outstanding investment returns, service and education," said CEO Alexis George.
In the heavyweight mining sector, Rio Tinto was up 1.5 per cent, Fortescue had added 1.2 per cent and BHP had edged 0.1 per cent higher.
South32 was up 3.6 per cent following its quarterly operating report.
The Australian dollar was buying 65.04 US cents, from 65.02 US cents at 5pm on Friday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mercury
an hour ago
- Mercury
LLM teams up with Terra Search at historic mine
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. LLM and Dr Simon Beams team up to explore historic Highway Reward mine Company has extensive and detailed exploration and mining data from acquisition The parties will use AI tech to determine new copper-gold drill targets Special Report: Loyal Metals has joined forces with highly regarded Terra Search geologist Dr Simon Beams to unlock the potential of its Highway Reward copper-gold mine in north Queensland. Amongst the world's highest-grade copper mines, the project operated from 1987 to 2005 with historical production of 3.65Mt at 5.7% copper and 260kt at 4.5 g/t gold. Throughout the mine's 20-year dormancy, Terra Search has preserved a comprehensive and robust archive of both exploration and mining data — an invaluable foundation for revitalisation. And Dr Beams himself has over 38 years of hands-on experience at the mine and with the broader Mount Windsor Volcanic Belt – invaluable expertise at the company works to realise the full potential of the world-class copper-gold system. Loyal Metals (ASX:LLM)says this collaboration could unlock the remnant potential of the mine using advanced AI-powered mining software to create 3D geological models and identify promising exploration targets for drilling. Transforming legacy assets through innovation The company has $4.4m in funding to deploy modern exploration techniques at the project, which it believes could unearth the next generation of discoveries. 'Highway Reward is more than a historic mine - it's a proven, high-grade copper-gold system with significant untapped potential,' MD Adam Ritchie said. 'Engaging Dr. Simon Beams enables us to fast track the next phase of discoveries, combining unmatched local expertise, modern exploration tools, and a clear vision for revitalisation. 'With a comprehensive digital data set and $4.4 million in funding, Loyal Metals is well positioned to unlock significant value through targeted exploration.' Dr Beams says the project has immense untapped potential. It also holds a special place for him, having been there for the first discovery drill hole. 'Having guided this project through its early exploration, I've seen firsthand the richness of its geology,' he said. 'Now, we're bridging decades of hands-on knowledge with cutting-edge tools—AI, advanced geophysics, and 3D modeling—to fast-track new discoveries. 'This isn't just about revisiting old data; it's about rewriting the playbook with modern precision. 'We're not just revisiting a mine; we're setting a new standard for how legacy assets can be transformed through innovation.' This article was developed in collaboration with Loyal Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions. Originally published as Loyal Metals teams up with Dr Simon Beams to unlock Highway Reward copper-gold potential
West Australian
5 hours ago
- West Australian
ASX rollercoaster: After a major market melt-up, a reckoning looms
The Australian share market has been on something of a tear over the past few months, up 11 per cent since the depths of Donald Trump's Kamikaze tariff attack, cresting at an all-time high Friday. It's an impressive run given the economy is barely limping along, interest rates are only ever so slightly on the way down and the global economy is on tenterhooks. Such lofty heights amid persistent uncertainty suggest this bull run has more to do with FOMO than fundamentals and vis ulnerable to any hint of bad news. How else to explain a drop of as much as 2.9 per cent for our largest bank, CBA, 3.4 per cent nearly and 2.75 for ANZ and NAB? The sell-off has been sheeted home to the Japanese election, where the ruling Liberal Democratic Party lost its majority in the upper house of parliament. It's the first time there hasn't been a governing majority since 1955. Market watchers suggest it could derail Japan's economic trajectory, given its high debt levels. That issue seems a long way from Australian banks, which derive the majority of their revenues from domestic lending. Aussie banks were up 30 per cent for the financial year ended, driven by the 46 per cent gain for Commbank. Australia's largest bank has been seen as something of a safe haven in times of uncertainty, popular with domestic and international investors alike for its strong balance sheet and stable earnings. But the company is not shooting the lights out in terms of growth, meaning investors are pushing up company valuations without worrying if it is being met by associated profits. 'CBA is the extreme version of that. On Friday, it was at record levels, and this is despite several years of falling earnings and significant uncertainty around what may happen internationally with tariffs,' said AMP chief economist Shane Oliver. It might be that the FOMO trade is going elsewhere. While banks were sold, miners were gold, with Rio Tinto up 1.5 per cent, Fortescue 1.35 per cent and South 32 up 4.33 per cent. There may also be a bet building on China. Stronger oil and metals prices in recent weeks have stirred speculation Beijing could unleash new stimulus. The iron ore price hit a four-month high thanks to a Chinese plan to build a hydroelectric dam in Tibet. But the base metal has been on the upward slope for four weeks, not due to further stimulus talks however, but a forced consolidation of the sector. In a market that is on the hunt for good news, investors seem to be ready to bid on any opportunities. 'Maybe the market's stepping that out,' Dr Oliver said, though he cautioned that recent Chinese GDP data didn't support that optimism. 'There was nothing in there suggesting China's going to jump in with a big stimulus. I'm less optimistic than the market on that one.' A higher iron ore price will certainly be welcome for miners, but a lot of the market is still relying on a bump from the Reserve Bank cutting interest rates. While that will be positive for corporates, the market seems very confident. Across the ASX200 the price earnings ratio - a metric that shows how much investors are willing to pay for each dollar of a company's profit - is 23 times and well above the long term average of around 17. It is also heading higher, raising questions about whether investors are shovelling money into stocks beyond the bargain hunting in the wake of Trump's Liberation Day tariff announcement. 'Share markets aren't cheap anymore,' Dr Oliver said. 'Maybe they were back in April… but they're not cheap anymore. Valuation measures certainly suggest the market is somewhat expensive.' A similar story is playing out in the US, where the markets have hit new records. That is significantly driven by the dominant tech firms but also in the hope that two key events occur: The US Federal Reserve cuts interest rates, and Trump backs down on tariffs. US markets edged higher on suggestions by one Fed member that rates should be cut, even though Fed chair Powell has indicated no change until the tariff impact can be calculated. The other big hope is the TACO trade. Investors are banking on Trump Always Chickening Out, presuming he will cave in the face of economic fallout. It's a risky strategy, given the still very punitive tariff levies spelled out in recent letters. But the key indicator of market risk, the VIX measure of market volatility, is not much higher than before Trump came to office at 16.41. In April, when tariffs were announced, it spiked above 52. 'That's another indication of the extreme optimism around the TACO trade,' Dr Oliver said. That sets up the current earnings season as a key test of investor confidence. Companies will need to show profit growth that justifies their expanded multiples or risk sharp repricing. While investment firms are banking on those earnings staying benign, early signs suggest company insiders are already wary. According to data from just 10 per cent of corporate officers are buying their own company's stock. That is well below the 10-year average in the high 20s and far off the peaks above 40 per cent recorded in recent years. It leaves investors with quite the dilemma. Sit the current enthusiasm out and miss out on the steady melt up or bank on a combination of factors all working in unison: a tariff climbdown, a Fed rate cut, a Chinese stimulus, and no other destabilising factors. It's heady stuff, and at these levels, markets can easily run out of oxygen.
The Advertiser
5 hours ago
- The Advertiser
2026 Hyundai Palisade: V6 and diesel to be axed in favour of four-cylinder and hybrid
Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from: Details of the 2026 Hyundai Palisade have been uncovered ahead of second-generation large flagship SUV's scheduled Australian arrival in late 2025. The new Palisade had already been confirmed to bring a hybrid powertrain for the first time – replacing the existing 2.2-litre turbo-diesel four-cylinder – in order to rival the Toyota Kluger, and Hyundai had previously also said a 2.5-litre turbocharged four-cylinder petrol engine was "under study" for Australia. Now Australian government certification documents confirm the next Palisade will offer a full range of front-wheel drive and all-wheel drive options, powered by both hybrid and non-hybrid 2.5-litre turbo-petrol powertrains. CarExpert can save you thousands on a new car. Click here to get a great deal. No other engines are included in the filing, signalling the end of not only diesel power but also the 3.8-litre petrol V6 from the new Palisade lineup. The Australian Design Rule documents also show the next-generation Palisade, codenamed 'LX3', has again been approved in both seven- and eight-seat interior configurations. Hyundai Australia could not share any details on the new Santa Fe's powertrain options or otherwise when contacted by CarExpert. The Palisade HEV (hybrid electric vehicle) has been granted approval in four model grades – seven-seat front-drive and AWD, and eight-seat FWD and AWD. The Palisade HEV is already on sale in the US, where it's offered in both FWD and AWD layouts, both priced $US1000 ($1537) higher than equivalent petrol-powered versions. In Australia, the HEV is expected to be priced similarly to the existing diesel Palisade, which is currently priced from $70,800 before on-road costs, although Hyundai is currently offering drive-away deals on certain variants. The hybrid system comprises the Hyundai group's 2.5-litre turbocharged four-cylinder petrol engine (T-GDI) and six-speed torque-convertor automatic transmission, but adds a single electric motor powered by a 1.65kWh lithium-ion battery. US-market Palisade hybrids are rated at 258hp (245kW) and 339lb-ft (460Nm) of torque, and while these figures cannot be directly carried over to Australian vehicles, our Palisade hybrid should still out-muscle the turbo-diesel's 147kW/440Nm outputs. That will also make it more powerful than the 3.8-litre V6 in the current model, which makes 217kW/355Nm and has official combined fuel consumption figures of between 10.8-11.1L/100km. Based on overseas specs, the Palisade HEV will be marginally thirstier than the diesel, with average consumption of 8.8L/100km against the diesel's 8.6-8.8L/100km. The Palisade's non-hybrid 2.5-litre turbo-petrol four – already seen under the bonnet of the Hyundai Sonata N Line in Australia, where it makes 213kW/422Nm – has also been approved in seven and eight-seat Palisade, in both FWD and AWD forms. ADR documents also confirm the second-generation Palisade will be larger than its predecessor in almost every dimension, growing an additional 65mm to 5060mm in length on a 70mm longer (2970mm) wheelbase. Overseas specs show no change in cargo volume or cabin space between petrol and hybrid versions. The cabin is expected to feature a 12.3-inch digital instrument cluster and a 12.3-inch infotainment touchscreen, plus a more premium look including 'pixel' lighting elements. Further details are expected to be confirmed by Hyundai Australia as the MkII Palisade's Australian arrival – scheduled between October and December this year – draws near. MORE: Everything Hyundai Content originally sourced from:
