ASX flat on Tuesday as Iran/Israel conflicts leaves investors wary
The benchmark ASX 200 index practically traded flat, losing just 7.10 points or 0.08 per cent to close at 8,541.30.
The broader All Ordinaries also slipped 3.90 points or 0.04 per cent to 8,771.10.
The Aussie dollar is trading near US65.31c.
Initially markets jumped on the opening bell before the Australian market dragged lower in line with US and Europe futures as US President Donald Trump urged people to leave the Iran capital of Tehran.
Mr Trump issued the chilling warning to everyone in Tehran to 'immediately evacuate' in a post made on his social media platform Truth Social.
'Iran should have signed the 'deal' I told them to sign. What a shame, and waste of human life,' Mr Trump wrote.
Futures markets in the US slid, with the Dow Jones Industrial Average dropping 0.32 per cent, while the S & P 500 futures dropped 0.34 per cent, and the tech heavy Nasdaq 100 futures dipped nearly 0.4 per cent.
On the local bourse, seven of the 11 sectors finished in the red paring back some of the early gains.
Gold miners were the bright spot on the market for a second day running with Northern Star Resources gaining 1.50 per cent to $20.99, Newmont Corporation added 2.49 per cent to $89.29 and Gold Road Resources finished up 0.60 per cent to $3.38.
On the other hand, the market heavyweight financial sector dragged on the market.
Commonwealth Bank fell 0.15 per cent to $179.14, NAB slipped 0.36 per cent to $38.80, Westpac slumped 0.54 per cent to $33.01 and ANZ finished in the red down 0.47 per cent to $29.46.
The major iron ore miners had a mixed day as the price of the commodity traded flat at $US95.23 per tonne.
BHP fell 0.37 per cent to $37.30 and Fortescue Metals slumped 0.38 per cent to $15.66. Bucking the trend was Rio Tinto which eked out a tiny 0.04 per cent gain to close at $107.15.
AMP chief economist and head of investment strategy Shane Oliver said the market was following its usual process with history showing falls of around 6 per cent during times of geopolitical uncertainty, before rallying by 15 per cent in the corresponding 12 months.
'The Israel/Iran war along with tariff uncertainty poses a high risk of a renewed set back in share markets, if the conflict escalates to the point that it threatens oil supplies from the Middle East,' Dr Oliver said.
'It should also be remembered that conflicts regularly flare up in the Middle East only to settle down, so the key is not to get too negative and look for any opportunities that the conflict throws up.'
In corporate news Santos continued its climb higher adding another 0.5 per cent of $7.80 after soaring more than 11 per cent on Monday after announcing an almost $30bn takeover bid.
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Perth Now
14 minutes ago
- Perth Now
Wall St gains amid focus on trade talks, tech earnings
The S&P 500 and Nasdaq have touched fresh record peaks as investors hoped for trade breakthroughs and geared up for a week of tech earnings that could set the tone for Wall Street. In early trading on Monday, the S&P 500 gained 18.34 points, or 0.29 per cent, to 6,315.13 and the Nasdaq Composite gained 110.40 points, or 0.53 per cent, to 21,006.05 while the Dow Jones Industrial Average rose 38.06 points, or 0.09 per cent, to 44,380.25 - just 1.57 per cent shy of its all-time high. Investors were hoping for some progress in trade talks after US Commerce Secretary Howard Lutnick expressed confidence over striking a trade deal with the European Union. US President Donald Trump has threatened to slap 30 per cent tariffs on imports from Mexico and the EU, keeping markets on edge. The president has also sent letters to other trading partners, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent to 50 per cent. Despite Trump's persistent attacks and the August 1 tariff deadline, the S&P 500 and the Nasdaq reached new heights recently as investors believed that the economic fallout from tariffs might not be as dire as once feared. All eyes are on marquee names such as Alphabet and Tesla, whose results this week will kick off the "Magnificent Seven" earnings parade, and could set the tone for Wall Street. Shares of Tesla and Alphabet were up 1.7 per cent and 0.5 per cent respectively. "There's still a ton of trade uncertainty, and so I think the focus on earnings has given investors some things to be excited about," said Ross Mayfield, investment strategy analyst at Baird. "There's a lot of optimism around those big tech earnings and AI demand that should continue to help indexes." On Monday, Verizon gained 2.2 per cent after boosting its annual profit forecast. The stock also drove the communications sector, which emerged as the top gainer among other sectors. Meanwhile, shares of Domino's Pizza rose 2.0 per cent after the world's largest pizza chain surpassed analysts' expectations for second-quarter US same-store sales. The week is light on the economic data front, with only notable indicators being weekly jobless claims figures and the July business activity report expected on Thursday. Investors will closely analyse Federal Reserve chair Jerome Powell's remarks on Tuesday for any clues on the US central bank's next move, especially after last week's mixed inflation signals. Traders have largely ruled out a July rate cut and are now pegging the odds at about 60 per cent for a September reduction, according to CME Group's FedWatch tool. Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 2.33-to-1 ratio on the Nasdaq. The S&P 500 posted seven new 52-week highs and four new lows while the Nasdaq Composite recorded 41 new highs and 20 new lows.
ABC News
44 minutes ago
- ABC News
BTN Episode 19, 2025
Yaama. Jack here with a whole new term of BTN. I hope you had a great break. Let's see what we've got coming up for you today. We look at Australia's new internet searching rules, find out about Australia's latest world heritage site and Learn about the quest to resurrect the moa. Defence Spending Reporter: Justina Ward INTRO: But first, we're going to take a look at a big military exercise that's happening in Australia right now. It's called Talisman Sabre, and it involves thousands of defence workers from around the world but it's also drawing attention to some big questions around the future of Australia's military. Take a look. JUSTINA, REPORTER: On the ground, in the air and on the water. BRIG. TIM ORDERS, AUSTRALIAN ARMY: You're gonna see an increase in military vehicle traffic in and around the roads in Darwin and Katherine but, uh, citizens shouldn't be alarmed. So, what's this for exactly? Welcome to Exercise Talisman Sabre 2025. It's a joint military exercise that's run by Australia and the US every couple of years. It's an honor to join you. And this year it's the biggest it's ever been with 30,000 military personnel from 19 nations taking part that's all about. VICE ADMIRAL JUSTIN JONES, AUSTRALIAN DEFENCE FORCE: Operating together, training and rehearsing our war fighting. It's also a chance to show off our cool weapons and build relationships with our neighbours. But organising exercises like this and keeping our forces in tip top shape doesn't come cheap. At the moment, Australia spends around $56 billion a year on defence. That pays for things like weapons, vehicles, machinery and paying wages for people working in defence. And the government says it's planning to spend even more. ANTHONY ALBANESE, AUSTRALIAN PRIME MINISTER: $57 billion over 10 years, we are increasing our defence spending and investment by more than $10 billion. That might sound like a lot, and it is, but it's still only about 2.3% of our GDP, or gross domestic product, which is basically the value of everything the country produces in a year. Meanwhile the US spends almost 1.5 trillion dollars which is about 3.4 per cent of its GDP. All of that money has helped to make America's defence force one the most, if not, the most powerful in the world. It's why since the end of the Second World War, Australia has relied on its alliance with the US, knowing that if we need help, America would be there. And it's not just Australia. Lots of other countries have military alliances with the US that they rely on to keep them safe. But recently US President Donald Trump has questioned whether or not that's fair. DONALD TRUMP, US PRESIDENT: If you're not going to pay your bills, we're not going to defend you. He's pressured European allies to increase their defence spending. DONALD TRUMP, US PRESIDENT: The NATO allies committed to dramatically increase their defence spending to that 5% of GDP. This is a big win for Europe and for actually Western civilization. His government has also asked Australia to up its defence spending to 3.5% of GDP. PETE HEGSETH, US SECRETARY OF DEFENSE: A long standing, incredibly important relationship with our friends in Australia. That would be $40 billion extra a year. So, a lot and our prime minister wasn't exactly on board. ANTHONY ALBANESE, AUSTRALIAN PRIME MINISTER: They announced an amount of money they couldn't say where it was coming from, and they couldn't say what it was for. That makes no sense. ANTHONY ALBANESE, AUSTRALIAN PRIME MINISTER: We determine our defence policy here, we're a sovereign nation. But some say we do need to have a serious think on defence spending, right now more countries are fighting each other than at any point since the 2nd world war, we've got growing tensions between the world's superpowers. And our most powerful ally wants to put… DONALD TRUMP, US PRESIDENT: America First. We will always put America first. I'm putting America First. We've also seeing some big changes in the way technology is used to fight wars. For now, our military says our alliance with the US is going strong. BRIG. GEN. SHANNON SMITH, US AIR FORCE: The reason we're here today is our commitment to our alliance with Australia our commitment to the region. As our soldiers continue to show off the best they've got. News Quiz What big change has the UK made to its electoral system? Has it introduced compulsory voting, lowered the voting age to 16, or made elections every three years instead of five? It's lowered the voting age to 16. It means around 1.6 million young Brits will be able to vote at the next election. DONALD TRUMP, US PRESIDENT: We're very, very unhappy with them and we're going to be doing very severe tariffs if we don't have a deal in 50 days. Which country was US President Donald Trump talking about? China, Russia or Israel? It was Russia. Mr Trump wants the Russian President, Vladimir Putin, to agree to a peace deal with Ukraine. He's agreed to sell billions of dollars' worth of weapons to NATO countries, which they'll give to Ukraine to help it fight Russia. Tasmania had an election on the weekend. Do you know when its last state election was? Four years ago, three years ago or last year? It was only last year. So, they weren't really due for another one but before the holidays the parliament passed a no-confidence motion against the premier Jermey Rockliff meaning they didn't support him. Mr Rockliff refused to quit so the state went to an election which the Liberal Party won, just. They didn't get enough seats to govern on their own, so they'll have to team up with minor parties. Why was a band called Velvet Sundown in the news recently? Because they reformed after 20 years to play at Glastonbury, because they stole a song from another artist or because they're AI generated? They're entirely AI. Despite that, the band has racked up more than a million monthly listeners. Cool. And do you know what's happening here on the River Thames? Is it a boat race, an historic bridge inspection or a swan census? It's a swan census. The official swan count is a ceremony that's been going since the 12th century. Basically, all unmarked swans on the Thames are the property of the King, who has the official title Seigner of Swans and to make sure no-one was pinching them for dinner officials would do a swan head count. These days it's more about conservation and making sure the swans are happy and healthy. Age Verification Rules Reporter: Tatenda Chibika INTRO: Recently, Australia became the first country in the world to make internet search providers check your age when you log in. The new rules are designed to make sure kids aren't seeing harmful stuff online. But will they work? Tatenda found out more. PERSON: I feel like on Google I just look up like whatever comes to my mind, like if I'm curious about something, I'll search it up and see if there's an answer for it. PERSON: Chat GPT. That's what I search up. PERSON: Sometimes I go online shopping on Google and then I also like to help me with my homework and stuff. TATENDA, REPORTER: Yeah, for a lot of us it's kind of hard to imagine a world without search engines. But along with all that useful information, entertainment, recipes and the name of that one annoyingly catchy song you heard at the shops but couldn't memorise all the lyrics to, there's also some stuff that you probably shouldn't be seeing. PERSON: Just like there's sometimes weird ads and stuff PERSON: it's just, like naked people. It's like everything's out there, which is too much exposure, too much exposure PERSON: it's been a lot of inappropriate things sometimes. That's why from December, search engines run by companies like Google and Microsoft will have to check the ages of anyone who logs in. It's among a whole heap of changes being introduced under the Online Safety Act. JULIE INMAN GRANT, ESAFETY COMMISSIONER: Very few of these technologies and platforms were created with children in mind or with safety as a primary goal. If you're under 18 search results will filter out things that are inappropriate like gambling, violence or other stuff that's not meant for kids. And the eSafety Commissioner's making the industry itself come up with the solutions. So, how exactly are they going to check your age well the government has given them a few options. For example, they might check other forms of ID like credit cards or licenses. They might get your parents to give permission, they might rely on other platforms that have already checked your age, or they might use technology that uses your face to guess your age. But as these guys found out recently, when they tried out some face scanning software, that doesn't always work. STUDENT: I'm getting yeah 23 STUDENT: I've just scrunched up my face all angry like this and the thing gave me 41 years old. STUDENT: It went from 15 to 14, to 13 getting younger by the minute. These are the type of things tech companies will use to check your age once the governments social media ban comes into effect later this year, so the clocks ticking to figure out what works. Although, some people think nothing will be totally effective. LISA MAE GIVENS, RMIT PROFESSOR: At the end of the day, where there's a will there's a way, people can definitely still access this content by not logging into an account they could also use a VPN to get around it by pretending to not be in Australia for example. There are also some concerns that the new rules will risk people's privacy. Companies will need to store all that data and that can make them a target for cyberattacks. And some people think it's more important to teach young people how to use the internet responsibly instead of shielding them from some parts of it. So, what do you think? PERSON: There's some things that are on the internet that people my age shouldn't like, really see and I think that age verification is a good way to stop that. PERSON: I know kids that like, don't really use it for what they're really meant to. So, yeah, I think filtering should happen. PERSON: As a child I grew up and I could choose what I was exposed to a certain degree, whereas now that choice is taken away. So, yeah, I think it's important. PERSON: I think it's really hard to shelter anyone from what the world is. PERSON: Education and educating your child is the main thing, but also those restrictions being put in place is definitely like a good add on to that. Quiz Do you know what the most searched-for word is? Weather, YouTube or Google? It's YouTube. More than a billion people type it into Google's search bar every month. UNESCO Rock Art Reporter: Jack Evans INTRO: Now to Australia's brand-new World Heritage Site and when I say new, I mean incredibly ancient. The rock art at Murujuga in Western Australia is up to 50,000 years old and it's now joined the likes of Stonehenge and the pyramids on a very special list. On the northwest coast of Western Australia, you'll find the Murujuga Cultural Landscape, home to the biggest and most diverse collections of rock art engravings in the world. Some of which date back more than 50,000 years and include carvings of extinct species and the earliest depiction of the human face. PETER JEFFERIES, MURUJUGA ABORIGINAL CORPORATION: They tell the story of our ancestors and what they've done over tens of thousands of years. That's why at a meeting in Paris the United Nations Heritage Committee decided to add this sacred site to the World Heritage List. UNESCO: Let me congratulate Australia on behalf of the entire committee. BELINDA CHURNSIDE, MURUJUGA ABORIGINAL CORPORATION: We have all come here together and from far away from the Murujuga lands. This has been a long-awaited journey and a fight for our elders, our old people and we are thankful to receive this recognition from a global scale. Thank you everyone. PETER HICKS, MURUJUGA ABORIGINAL CORPORATION: We were very, very happy that, you know. That word probably can't describe it, you know, to the full extent of it. Murujuga, alongside 25 other sites from around the world, will now join a long list of famous sites, like the Taj Mahal in India, the Pyramids of Giza in Egypt, Stonehenge in the UK, Machu Picchu in Peru and the Great Wall of China in, well, China. The United Nations Educational, Scientific and Cultural Organisation or UNESCO started the World Heritage List in 1978 as a way to protect sites that had "outstanding universal value to humanity". Today the list includes 1223 sites from 170 countries. Here in Australia, we have 21 on the list including the Sydney Opera House, Uluru-Kata Tjuta National Park, the Blue Mountains, the Great Barrier Reef and now Murujuga. Being heritage listed is a big honour and helps to boost tourism, but it also means governments are put under more pressure to protect sites and have to regularly report to UNESCO. So, Traditional Owners are hoping the heritage listing helps to keep Murujuga safe. They say nearby mining and gas projects cause damage and erosion to the rock art. RAELENE COOPER, MARDATHOONERA TRADITIONAL CUSTODIAN: You cannot have industry. And culture coexist. MURRAY WATT, ENVIRONMENT MINISTER: In the end, what persuaded the committee was both the scientific evidence but also the genuine passion from the traditional owners to see this World Heritage listing be secured. They're hoping that by showing the world how special this site is they can make sure it's still there for future generations. PETER JEFFERIES, MURUJUGA ABORIGINAL CORPORATION: We start a new journey or a new story that we created in the rocks today and we will continue to manage culture and country as our ancestors have already done or have done prior to or previous to us. BELINDA CHURNSIDE, MURUJUGA ABORIGINAL CORPORATION: This is a testament to the true dedication and commitment. Our resilience of Aboriginal people. Thank you all. Quiz Which of these Australian sites has been on the World Heritage List for the longest? Uluru, Kakadu National Park or the Melbourne Royal Exhibition building? It's Kakadu National Park. It was one of three Australian sites to make the list in 1981, along with Willandra Lakes and the Great Barrier Reef. Moa De-extinction Reporter: Justina Ward INTRO: Now, have you ever seen one of these. It's a moa and you probably haven't because they've been extinct for hundreds of years. But an American bioscience company wants to bring them back and so does Peter Jackson. Here's Justina. NARRATOR: Some things that should not have been forgotten were lost. History became legend. Legend became myth. And for 500 years, the moa passed out of all knowledge, until. HOBBIT 1: What's that? HOBBIT 2: It looks like an emu. WIZARD: I think it's a moa. JUSTINA, REPORTER: Yeah, meet the moa. It's a 3.5 metre wingless bird that once roamed the plains of Middle-Earth, I mean, New Zealand. Moa disappeared around 500 years ago possibly because of human hunters, but now an American bio-tec company says they can bring them back. BETH SHAPIRO, COLOSSAL BIOSCIENCES: The process of de-extinction is that we extract DNA from ancient bones, and we sequence that DNA and assemble ancient genomes. DNA is like blueprint that exists inside the cells of all living things determining how they look and act. Sometimes you can also find DNA preserved in dead things. BETH SHAPIRO, COLOSSAL BIOSCIENCES: To de-extinct the moa we are collecting DNA from all nine species of moa. We'll be comparing the genome sequences to genomes of living birds to identify what it is that made moa unique, and using the tools of genome editing to make those changes in the DNA sequence of the living close relatives. And it's got a lot of moa fans excited, especially the Lord of the Rings director Peter Jackson who's invested around 23 million dollars for the project. PETER JACKSON, FILMMAKER: You know, in the hope that within a few years we'll get to see a moa back again. I mean, that to me, it's given me more enjoyment and satisfaction than any films ever have. WIZARD: Oh. Colossal Biosciences is using similar techniques to try to bring back other species, like the woolly mammoth, and Tassie tiger. Then there were these guys which Colossal Biosciences claimed were the first dire wolves to be born in more than 10,000 years. Although some were sceptical. STUART PIMM, DUKE UNIVERSITY: The claim that they have created the dire wolf is just simply rubbish. You know they've put a few, you know, dire wolf genes to create a big white dog. Yeah, some scientists say they're not really creating an extinct animal, instead they're just making existing species look more like their long-lost relatives. NIC RAWLENCE, OTAGO PALAEOGENETICS LABORATORY: Scientists can create genetically engineered animals like what they did with the grey wolf and dire wolf. But we're definitely not at the point of bringing back a 100% genetically engineered emu to look genetically look like a moa. There are also some people who say it's not right to try to bring back extinct species. For starters, keeping these new creatures alive takes specialised knowledge and a lot of money. Plus, some reckon all this effort could be better spent protecting species that are still alive. WIZARD: Do not be too eager to deal out de-extinction. For even the very wise cannot see all ends. Yes, thank you Gandalf, others say we should bring back species that we helped send into extinction and thanks to things like climate change and habitat loss, species extinctions are happening faster than ever, some reckon it might be good to have a backup plan. PETER JACKSON, FILMMAKER: Yeah, it's uniquely a New Zealand bird, so it's something that we've always been very fascinated with and proud about. So, it's a big thing here. The moa is a big thing. In any case, Colossal says it'll be about 5 to 10 years before we see any moa hatching, until then these amazing creatures will remain a fantasy. WIZARD: Hang on, that's definitely an emu, I don't think we're in New Zealand anymore. Sport COMMENTATOR: Australia wins their first ever Asia Cup Championship. Yep, the Opals have done it, winning the 2025 Championship in China. While they led at every break Japan narrowed the lead to 8 points at the final change. But the Opals came back strong. COMMENTATOR: Big start to fourth from Issy Bourne. Japan levelled the scores twice. But it wasn't enough to stop the Aussies who won eighty-eight to seventy-nine and locked in a ticket to next year's World Cup in Berlin. Now to the Tour De France. In the 15th stage of this 3000-kilometre race, Tim Wellens finished in front but this guy in third place hadn't noticed. COMMENTATOR: He doesn't think he's won. Surely not. COMMENTATOR: Please tell me someone's told him. Julian Alaphilippe said he couldn't hear his radio after a crash. JULIAN ALAPHILIPPE, FRENCH CYCLIST: You have to take in on a funny way you know it's part of the game. And Australia has taken out the Frank Worrell trophy after an eventful third test. They knocked the West Indies over for just 27 the second lowest test innings total ever. Mitchell Starc became the fastest player to take five wickets in an innings. COMMENTATOR: That's 400 hundred test match wickets for Mitchell Starc. And Scott Boland became the first Aussie in 15 years to take a test hat-trick. Charity Flights Reporter: Wren Gillett INTRO: Now if you're from the bush, you'll know that there are a lot of great things about growing up away from the city. But there are also some down sides, especially if you need a lot of medical care. Winnie and Raffy are going to tell you how a medical flight charity has helped their family. WINNIE: My name is Winnie, and I am 9 years old. I live in NSW Coonabarabran. Yeah. RAFFY: I'm Raffy, 15, from Coonabarabran. Yeah. Winnie and Raffy are siblings, and as you heard, home for them is here, in Coonabarabran. It's a rural town in New South Wales, and fewer than 3,500 people live here. WINNIE: I'll describe my town as fairly good, but it doesn't have much in it. But yeah, I could live here for the rest of my life. RAFFY: Living in a small country town, nearly everyone knows you, so you know, you always, every time you think you're gonna go downtown for like 10 minutes, ends up going half an hour because you're talking to nearly every person you see. But while living in a small town might mean you're closer to your community, it's common to be far from other things. RAFFY: Some of the harder aspects living here is, I suppose, medical facilities, schooling, you know if you want, and especially for the things I've experienced with farming, that if you want a part or something like that, you got to drive more. For Winnie, that distance really matters. She has a medical condition that means she has to constantly monitor her blood sugar. WINNIE: I'll describe it as just like if all my sugars go low, there's some possible risks that could happen. I might have to get rushed to the hospital if they're like, really, really low. RAFFY: It does get hard in Coonabarabran because yeah, there are not many facilities here that can help her or stuff like that. It's why she sometimes needs to fly for treatment. GLEN BRIDGLAND, LITTLE WINGS: My job entails flying sick kids to and from hospital visits from towns in Outback NSW to the larger hospitals in Sydney and Newcastle. Glen is a volunteer pilot for Little Wings, A charity that's been helping Winnie for a long time. WINNIE: I feel like I've flied like a lot of times because I've been flying with them since I was like 3, I think. They have, like tiny teddies in there and I like, eat them because I'm hungry. GLEN BRIDGLAND: If you live in the larger cities, access to medical treatment is taken as granted. But if you're in the bush that's not as easy, and for people with serious medical issues, the only way they can reach treatment is if they travel a long way. That's where we help. RAFFY: People should be able to get the treatment they need when they need it and how much they need because everyone has the right to it no matter who they are. WINNIE: The other kids that have my condition, I just want to tell them never give up, and you can be whoever you want to be, and Little Wings can help you no matter what. Closer Well, that's all we've got for you today. We'll be back next week with more. But if you can't wait till then you can head to our website there's plenty to see and do there. You can also catch Newsbreak every weeknight. Have an awesome week and I'll see you next time. Bye.
Sky News AU
3 hours ago
- Sky News AU
Trump demands Washington Commanders reverse name change back to Redskins
Sky News host Freya Leach discusses United States President Donald Trump's post on Truth Social demanding the Washington Commanders reverse their name back to Washington Redskins. 'After the Black Lives Matter riots the Washington Commanders changed their name from the Redskins,' Ms Leach said. 'Because it was seen as a racial slur against Native Americans.'
