ASX 200 expected to open on Thursday with a decline
CommSec's Tom Piotrowski claims the futures are pointing to a decline of around four-tenths of a per cent for the ASX 200 when trading gets underway on Thursday morning.
This comes as May inflation figures released on Wednesday have consolidated the view that the Reserve Bank of Australia could cut interest rates by 0.25 per cent in July.
Presented by CommSec.
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News.com.au
2 days ago
- News.com.au
Commonwealth Bank endures worst day in nine weeks as ASX 200 falls, iron ore miners soar
Australia's sharemarket seesawed throughout Friday's trading before eventually falling, as investors sold down the major banks and moved into the mining sector. The benchmark ASX 200 index fell during Friday's reading with shares dropping 36.60 points or 0.43 per cent to 8,514.20 The broader All Ordinaries also dropped and is trading down 29.90 points or 0.34 per cent to 8,743.70. On a mixed day for Australia's largest sectors the major miners soared, while the banks and healthcare stocks fell by 1.51 and 1.41 per cent respectively. CBA had its biggest fall in almost nine weeks, slumping 2.8 per cent to $185.36. The other major banks followed with NAB dropping 1.6 per cent to $39.26, while Westpac fell 1.9 per cent to $33.90 and ANZ dropped 1.8 per cent to $29.20. Shares in CSL slipped 2.3 per cent to $234.34 while Sigma Healthcare fell nearly 2 per cent and is now trading at $2.95 a share. Overall, eight of the 11 sectors were lower, with just materials, information technology and telecommunications finishing in the green. The major iron ore miners soared on the back of a jump in the underlying commodities price. BHP closed 3.90 per cent higher to $37.53, Rio Tinto climbed 4.59 per cent to $108.97 and Fortescue Metals gained 3.55 per cent to $15.46. The Australian dollar lifted slightly and is now buying at 65.48 US cents. In company news, Woolworths announced it was shutting down its online retailer MyDeal from September 30 as it looks to focus on Big W Market and Everyday Market. AMP chief economist and head of investment strategy Shane Oliver said shares have climbed the wall of worry, as Trump tries to build a New World Order. 'Fortunately, Trump backed down on the worst of his tariffs for now and the Middle East threat has fizzled leaving US, global and Australian shares just 0.7 per cent or less below record highs and on track for another financial year of strong returns helped by strong profit growth in the US and central bank rate cuts elsewhere, including in Australia.' He also highlights the market is set to enter a traditionally strong period in the coming days. 'July is normally a strong month for shares and a break to record highs could be imminent,' Mr Oliver said. However, volatility is likely to remain high as US and Australian shares are expensive and Trump's tariff threat will likely increase again. Mr Oliver said the 9th July tariff deadline was rapidly approaching and some countries likely to see hikes beyond 10 per cent tariffs. In an announcement to the ASX, Woolworths estimates the cost of closing the online business will be between $90m and $100m, including payments for outstanding equity and staff redundancies. PointsBet said they will be at the bottom of the range for previous guidance. Earlier in the year the business projected revenues of between $260-270 million and earnings before interest, tax, depreciation and amortisation of between $11- $14 million for the 2025 financial year. Reece shares slumped 18.7 per cent to $14.12 after the plumbing and bathroom supplier told the market earnings will fall into the range of $548-$558m down from $681m last year.
Perth Now
2 days ago
- Perth Now
Major banks tumble as sharemarket seesaws
Australia's sharemarket seesawed throughout Friday's trading before eventually falling, as investors sold down the major banks and moved into the mining sector. The benchmark ASX 200 index fell during Friday's reading with shares dropping 36.60 points or 0.43 per cent to 8,514.20 The broader All Ordinaries also dropped and is trading down 29.90 points or 0.34 per cent to 8,743.70. BHP, RIO, Fortescue soared on a strong day for the miners. Picture NewsWire/ Gaye Gerard. Credit: News Corp Australia On a mixed day for Australia's largest sectors the major miners soared, while the banks and healthcare stocks fell by 1.51 and 1.41 per cent respectively. CBA had its biggest fall in almost nine weeks, slumping 2.8 per cent to $185.36. The other major banks followed with NAB dropping 1.6 per cent to $39.26, while Westpac fell 1.9 per cent to $33.90 and ANZ dropped 1.8 per cent to $29.20. Shares in CSL slipped 2.3 per cent to $234.34 while Sigma Healthcare fell nearly 2 per cent and is now trading at $2.95 a share. Overall, eight of the 11 sectors were lower, with just materials, information technology and telecommunications finishing in the green. The major iron ore miners soared on the back of a jump in the underlying commodities price. BHP closed 3.90 per cent higher to $37.53, Rio Tinto climbed 4.59 per cent to $108.97 and Fortescue Metals gained 3.55 per cent to $15.46. The Australian dollar lifted slightly and is now buying at 65.48 US cents. Despite the falls, the ASX 200 gained 0.1 per cent for the week NewsWire / Max Mason-Hubers Credit: News Corp Australia In company news, Woolworths announced it was shutting down its online retailer MyDeal from September 30 as it looks to focus on Big W Market and Everyday Market. AMP chief economist and head of investment strategy Shane Oliver said shares have climbed the wall of worry, as Trump tries to build a New World Order. 'Fortunately, Trump backed down on the worst of his tariffs for now and the Middle East threat has fizzled leaving US, global and Australian shares just 0.7 per cent or less below record highs and on track for another financial year of strong returns helped by strong profit growth in the US and central bank rate cuts elsewhere, including in Australia.' He also highlights the market is set to enter a traditionally strong period in the coming days. 'July is normally a strong month for shares and a break to record highs could be imminent,' Mr Oliver said. However, volatility is likely to remain high as US and Australian shares are expensive and Trump's tariff threat will likely increase again. Mr Oliver said the 9th July tariff deadline was rapidly approaching and some countries likely to see hikes beyond 10 per cent tariffs. In an announcement to the ASX, Woolworths estimates the cost of closing the online business will be between $90m and $100m, including payments for outstanding equity and staff redundancies. PointsBet said they will be at the bottom of the range for previous guidance. Earlier in the year the business projected revenues of between $260-270 million and earnings before interest, tax, depreciation and amortisation of between $11- $14 million for the 2025 financial year. Reece shares slumped 18.7 per cent to $14.12 after the plumbing and bathroom supplier told the market earnings will fall into the range of $548-$558m down from $681m last year.
News.com.au
2 days ago
- News.com.au
Closing Bell: ASX tumbles as banking stocks slump
ASX arrests momentum to fall 0.43pc Materials up 2.27pc alongside ASX 200 Resources, up 1.99pc Profit taking in bank stocks drives ASX 200 Banks index down 2.24pc While the ASX 200 had a roaring start to the day, up 0.61% in the first hour, it had tripped over its own feet by midday and continued to tumble right until close of trade. Despite a buoyant materials sector (+2.27%), the ASX has shed 0.43% today, suffering from profit taking in our top seven banking stocks and a lagging gold sector. Info tech (+0.55%) and telecoms (+0.54%) were able to provide some support, but it wasn't enough to outweigh full percentage drops in the financials, health care and real estate sectors. The ASX 200 Banks index fell 2.24% by the end of the day. Commonwealth Bank (ASX:CBA) shed 2.8%, NAB (ASX:NAB) 1.5%, Westpac (ASX:WBC) 1.9%, ANZ (ASX:ANZ) 1.8% , QBE Insurance (ASX:QBE) 0.4% and Suncorp (ASX:SUN) 0.6% Macquarie Group (ASX:MQG) was the only bright spot, jumping 1.96%. MQG today announced it has ceased to be a substantial shareholder in NRW Holdings (ASX:NWH). Gold stocks weren't part of the wider resources rally, shedding 1.08% as the ASX 200 Resources surged 1.99%. ASX SMALL CAP LEADERS Today's best performing small cap stocks: Security Name Last % Change Volume Market Cap RAN Range International 0.0025 150% 6635397 $939,290 GMN Gold Mountain Ltd 0.002 100% 19266605 $5,619,759 JAY Jayride Group 0.002 100% 3643361 $1,427,889 MIOR Macarthur Minerals 0.002 100% 1214368 $99,833 MGU Magnum Mining & Exp 0.005 67% 6139972 $3,364,953 CYQ Cycliq Group Ltd 0.003 50% 2810692 $921,033 TKL Traka Resources 0.0015 50% 1000000 $2,125,790 ASR Asra Minerals Ltd 0.002 33% 500000 $5,987,547 ECT Env Clean Tech Ltd. 0.004 33% 21157796 $12,020,306 MTB Mount Burgess Mining 0.004 33% 5038925 $1,055,108 PPG Pro-Pac Packaging 0.02 33% 292877 $2,725,316 D3E D3 Energy Limited 0.145 32% 712870 $8,742,251 CLG Close Loop 0.035 30% 7705999 $14,359,946 AGY Argosy Minerals Ltd 0.019 27% 43971108 $21,838,814 1CG One Click Group Ltd 0.01 25% 526551 $9,458,289 AN1 Anagenics Limited 0.005 25% 472587 $1,985,281 ANX Anax Metals Ltd 0.005 25% 10315929 $3,531,230 AUK Aumake Limited 0.0025 25% 5129 $6,046,718 BEL Bentley Capital Ltd 0.01 25% 89000 $609,023 DGR DGR Global Ltd 0.005 25% 225000 $4,174,784 SKK Stakk Limited 0.005 25% 206022 $8,300,319 VML Vital Metals Limited 0.0025 25% 3289773 $11,790,134 C1X Cosmosexploration 0.063 24% 270022 $5,531,797 8IH 8I Holdings Ltd 0.011 22% 11749 $3,133,448 THR Thor Energy PLC 0.011 22% 287171 $6,397,109 Making news… Argosy Minerals (ASX:AGY) has offloaded 60 metric tonnes of battery quality lithium carbonate in an offtake deal with a Hong Kong based chemical company. Management says it's joined an exclusive group of lithium carbonate product exporters at a challenging time for the industry, reflecting the strong fundamentals of its Rincon lithium project in the lithium triangle. Anagenics (ASX:AN1) has celebrated the launch of Bouf Haircare by York Street Brands, developed using its proprietary anti-aging solutions. The new product had a stellar launch in May, selling out of the Flouf Factor Growth Tonic product and forecast to generate $2.3 million in sales during the first quarter. That translates to a tidy royalty cut of $230,000 for AN1, which expects the royalty deal to generate quite a bit more than the minimum agreed 10-year payments of $4.5 million. ASX SMALL CAP LAGGARDS Today's worst performing small cap stocks: Security Name Last % Change Volume Market Cap PKO Peako Limited 0.001 -50% 10682448 $2,975,484 TAT Tartana Minerals Ltd 0.026 -38% 306401 $8,994,128 ALR Altairminerals 0.002 -33% 200000 $12,890,233 EEL Enrg Elements Ltd 0.001 -33% 8744238 $4,880,668 RCM Rapid Critical 0.002 -33% 12643388 $4,247,334 SRJ SRJ Technologies 0.005 -29% 2602849 $4,239,047 CZN Corazon Ltd 0.0015 -25% 24250 $2,369,145 OVT Ovanti Limited 0.006 -25% 1.18E+08 $24,044,120 AXI Axiom Properties 0.027 -23% 300290 $15,144,978 JAV Javelin Minerals Ltd 0.002 -20% 3030000 $15,315,373 SPQ Superior Resources 0.004 -20% 5837278 $11,854,914 PV1 Provaris Energy Ltd 0.014 -18% 435849 $11,866,022 BUR Burleyminerals 0.043 -17% 535303 $9,420,700 STG Straker Limited 0.4 -17% 195475 $30,882,864 C7A Clara Resources 0.0025 -17% 596670 $1,764,813 ICR Intelicare Holdings 0.005 -17% 10000 $2,917,129 KPO Kalina Power Limited 0.005 -17% 261602 $17,597,974 PRM Prominence Energy 0.0025 -17% 166367 $1,167,529 LKY Locksleyresources 0.074 -16% 17763032 $16,133,333 IRD Iron Road Ltd 0.022 -15% 800330 $21,546,012 REE Rarex Limited 0.017 -15% 10056907 $18,403,280 AKN Auking Mining Ltd 0.006 -14% 525000 $4,023,451 AVD Avada Group Limited 0.12 -14% 534442 $11,890,904 M2R Miramar 0.003 -14% 577648 $3,488,881 ODE Odessa Minerals Ltd 0.006 -14% 3988664 $11,196,728 IN CASE YOU MISSED IT QEM (ASX:QEM) can proceed with an environmental impact statement for its Julia Creek project in Queensland after receiving the finalised terms of reference. LinQ Minerals (ASX:LNQ) has become the first gold explorer to list on the ASX in 2025 after raising $10m through a heavily oversubscribed initial public offering priced at 20c per share. LAST ORDERS Harvest Technology Group (ASX:HTG) managing director Ilario Faenza was on the road this week, hosting 30 different meetings across three days in Singapore and Hong Kong. Faenza spoke with small cap fund managers and family offices, presenting HTG's Nodestream Enhanced Operating Network, an edge compute horsepower and storage solution. TRADING HALTS At Stockhead, we tell it like it is. While Harvest Technology Group is a Stockhead advertiser, it did not sponsor this article.
