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Evening Wrap ASX 200 dips on weaker banks, healthcare as uranium melt-up continues ... The S&P/ASX 200 closed 7.1 points lower.​

www.marketindex.com.au

Evening Wrap: ASX 200 dips on weaker banks, healthcare as uranium melt-up continues

Uranium stocks lit up the ASX for the second day in a row, with strong gains across the sector as investors continued to react to positive news developments from Sprott's US$200 million capital raise to purchase physical uranium.
www.marketindex.com.au www.marketindex.com.au
 
ASX futures are pointing down 32 points or 0.4 per cent to 8513.

AUD down 0.7% to 64.76 US¢
Bitcoin down 3.7% $US103,921
Gold up 0.2% to $US3390.99 an ounce
Brent oil up 3.7% to $US75.97 a barrel
Iron ore down 1.2% to $US92.90 a tonne
10-year yield: US 4.39%, Australia 4.25%
 
Australian investors adopted a cautious approach on Tuesday as continued hostilities between Iran and Israel, along with rising oil prices, weighed on sentiment. With no clear resolution or ceasefire in sight, the ASX 200 remained largely flat for a second consecutive session, closing 7.1 points lower (-0.08%) at 8,541.30. Sector performance was mixed and with marginal movements as seven sectors ended in the red and four posted gains.

In the energy sector, Santos edged up to $7.76 (+0.52%) as markets continued to assess the likelihood of regulatory approval for the Abu Dhabi-led consortium's bid of US$5.76 per share (A$8.82). Uranium stocks extended their rally on yesterday’s news of investments to purchase physical uranium, with Paladin Energy rising 4.4% to $7.60 and Boss Energy climbing 3.23%.

Within the materials space, iron ore miners BHP and Fortescue recorded slight losses as iron ore prices hit 2-month lows. Gold stocks, however, saw renewed interest as bullion prices stabilised. Newmont advanced 2.49% to $89.29, while Emerald Resources rebounded 3.28% to $4.72.

CSL Limited announced that the U.S. Food and Drug Administration had approved its treatment for hereditary angioedema, a rare genetic disorder. The approval paves the way for commercial sales to begin by the end of June. CSL shares rose 19 cents to close at $239.29.

In fixed income, Australian bond markets were quiet, with yields ticking slightly higher. The 10-year government bond yield rose 2 basis points to 4.25%, while the 2-year yield edged up 1 basis point to 3.31%.

The Australian equity market is expected to open lower today after ASX200 futures slipped 18 points, a drop of 2.1%. The AUDUSD has moved lower overnight from its close in Sydney at 0.653. It begins Wednesday’s trading at 0.6480
 
Bailxtrader said:
Australian investors adopted a cautious approach on Tuesday as continued hostilities between Iran and Israel, along with rising oil prices, weighed on sentiment. With no clear resolution or ceasefire in sight, the ASX 200 remained largely flat for a second consecutive session, closing 7.1 points lower (-0.08%) at 8,541.30. Sector performance was mixed and with marginal movements as seven sectors ended in the red and four posted gains.

In the energy sector, Santos edged up to $7.76 (+0.52%) as markets continued to assess the likelihood of regulatory approval for the Abu Dhabi-led consortium's bid of US$5.76 per share (A$8.82). Uranium stocks extended their rally on yesterday’s news of investments to purchase physical uranium, with Paladin Energy rising 4.4% to $7.60 and Boss Energy climbing 3.23%.

Within the materials space, iron ore miners BHP and Fortescue recorded slight losses as iron ore prices hit 2-month lows. Gold stocks, however, saw renewed interest as bullion prices stabilised. Newmont advanced 2.49% to $89.29, while Emerald Resources rebounded 3.28% to $4.72.

CSL Limited announced that the U.S. Food and Drug Administration had approved its treatment for hereditary angioedema, a rare genetic disorder. The approval paves the way for commercial sales to begin by the end of June. CSL shares rose 19 cents to close at $239.29.

In fixed income, Australian bond markets were quiet, with yields ticking slightly higher. The 10-year government bond yield rose 2 basis points to 4.25%, while the 2-year yield edged up 1 basis point to 3.31%.

The Australian equity market is expected to open lower today after ASX200 futures slipped 18 points, a drop of 2.1%. The AUDUSD has moved lower overnight from its close in Sydney at 0.653. It begins Wednesday’s trading at 0.6480
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This is a strange one for me today.
My watchlist has only 2 greens DEV, not holding. and my pick in the monthly comp ACE, holding.
The rest big and medium caps suffering from a lack of blood transfusions.
Perhaps my recent stays in hospital have depleted the supply line.
 
farmerge said:
This is a strange one for me today.
My watchlist has only 2 greens DEV, not holding. and my pick in the monthly comp ACE, holding.
The rest big and medium caps suffering from a lack of blood transfusions.
Perhaps my recent stays in hospital have depleted the supply line.
Click to expand...
I've got a few specs slowly rising to the party! But nothing to write home about? My main focus is RML Doubling my investment this morning and with some very profitable and exciting news. I'll be holding for while I figure! Plenty of Chaos to go around...
 
Bailxtrader said:
I've got a few specs slowly rising to the party! But nothing to write home about? My main focus is RML Doubling my investment this morning and with some very profitable and exciting news. I'll be holding for while I figure! Plenty of Chaos to go around.
Click to expand...


Australia’s economy is showing slow but steady momentum, with Q1 GDP growth at just 1.3% year-on-year—missing forecasts and revealing some underlying cracks. The S&P/ASX 200 is up 4.6% year-to-date, but consumer sentiment remains fragile, and the Reserve Bank is expected to begin rate cuts from August.

🚦 Growth: Losing Altitude​

  • GDP growth came in at 1.3% year-on-year for Q1 2025, below the 1.5% forecast. The quarter-on-quarter figure slowed to 0.2%, half the projected pace.
  • Drag factors: Weak public spending, bad weather hurting mining and tourism, and sluggish exports—especially as U.S.-China trade tensions bit into key commodity flows.
  • Trade balance: April’s surplus shrank to A$5.41 billion as exports slumped (metal ores -4.7%, coal -16.1%) and imports edged up thanks to resilient consumer demand.
  • Takeaway: The economy is expanding, but at its slowest pace since the pandemic recovery.

🏦 Central Bank: Pivot Approaching​

  • The Reserve Bank of Australia (RBA) has already cut rates by a cumulative 50 basis points in 2025, and Westpac sees more cuts coming—likely in August and November.
  • By early 2026, rates could drop to 2.85%, down from the current 3.85%.
  • Why cut? Weak GDP, cooling inflation, and a labor market that’s lost some heat—all signal the need for easier policy.

👀 Sentiment: Cautious Consumers​

  • The Westpac-Melbourne Institute Consumer Sentiment Index edged up to 92.6 in June, but remains well below “optimistic” territory (100+).
  • Consumers are wary: employment outlook is shaky, inflation is cooling but still a concern, and trade war headlines dampen confidence.

💡 Markets: Resilience Meets Reality​

  • The S&P/ASX 200 trades near all-time highs at 8,530.70, buoyed by energy and resources sectors despite occasional sector pullbacks.
  • Volatility is low: The ASX 200 VIX is down to 10.93, signaling muted market stress—investors are cautiously optimistic, not euphoric.

🧩 The Big Picture​

Australia’s economy is still growing, but momentum is fading as global risks (U.S.-China tariffs, Iran-Israel conflict) and weak domestic demand start to bite. Rate cuts are expected to provide some relief, but don’t expect a surge—think gentle landing, not rocket launch.
 
A hold from the Federal Reserve in the U.S. and plummeting iron ore prices will both keep Australian shares in the red heading into Thursday morning.

ASX 200 futures point to a -0.13% drop before open, which tracks nearly all the leading Wall Street indexes – the S&P 500 and Dow Jones dipped -0.1% while the Nasdaq composite eeked out a similar gain the other way.

Things did stay near flat in the U.S., though, after Powell pledged two more cuts this year.

Things may swing more dramatically in Oz on jobs data we’ll get at 11.30am too.
 
Signs the ASX in general after yesterday's debacle with stocks in the red all day. I think the futures were down double to yesterday's Heres a look at how some of the sectors fared...

Australian shares have edged lower as the Israel-Iran conflict weighed on confidence, while interest rate-sensitive stocks improved on the back of a cooling labour market.

The S&P/ASX200 edged down 7.5 points, or 0.09 per cent, to 8,523.7, on Thursday as the broader All Ordinaries lost 16.5 points, or 0.19 per cent, to 8,748.1.

Investors continued to be tentative in the face of major Middle East uncertainty and amid growing expectations of stagflation (rising inflation and weak economic growth) in the United States economy.

"If you were to take a long term view, the market will be fine no matter what," Moomoo market strategist Jessica Amir said.

"But we're probably going to see a stagflation environment, and this basically means that you need to focus on quality, which in this market has been tech companies able to grow profits the most out of anywhere."

Seven of 11 local sectors finished lower, but a surprise drop in jobs in May left the door open to a Reserve Bank interest rate cut in July, helping the rate-sensitive financials, real estate and consumer facing-stocks push higher.

Financials gained 0.9 per cent, with all four big banks in the green by the close, led by Westpac (up 1.7 per cent) and Commonwealth Bank, which spiked to an intraday record of $183.31 before settling at $182.85, it's best-ever close.

The materials sector continued to weigh on the bourse, down 1.8 per cent as lumbering iron ore prices dragged on large-cap miners and gold fell to a seven-day low of $US3,370 ($A5,215) an ounce.

BHP, Rio Tinto and Fortescue each lost between 1.7 per cent and 2.3 per cent as iron ore futures continued to plumb nine-month lows of $US94.40 a tonne.

Mixed miners and critical minerals plays also broadly bled lower, and there could be further downside before July 1 as investors lock in capital losses on losing stocks ahead of tax time.

Energy stocks fell 0.6 per cent despite continued strength in oil prices as Brent crude futures rose two per cent to just below $US76 a barrel.

The sector is still more than ten per cent higher than before Israel launched air strikes against Iran on Friday.

IT stocks fell 1.1 per cent as WiseTech Global announced its latest board departures and sold off by 1.9 per cent.

Technology One fell 1.5 per cent and accounting software Xero slipped 0.9 per cent, handing back some of Wednesday's gains.

Health care stocks were heavy, losing one per cent after CSL dropped 1.3 per cent ahead of next week's first meeting of US health secretary Robert F Kennedy Jr's revamped immunisation committee, which includes vaccine sceptics.

In other news, Kathmandu and Rip Curl owner KMD Brands fell almost four per cent after it announced warmer autumn weather had affected insulated clothing sales.

The Australian dollar is slightly lower against the greenback, buying 64.71 US cents, down from 65.07 US cents on Wednesday at 5pm AEST.
 
triple witching out of the way... Dow +0.1%, S&P -0.2%, Nasdaq -0.5%, VIX -1.55 to 20.62
  • AUD -0.5% to US64.52¢
  • Bitcoin -0.8% to $US103,522
  • Gold -0.1% to $US3368.39 an ounce
  • Brent oil -2.1% to $US77.21 a barrel
  • Iron ore +1.1% to $US93.70 a tonne
  • 10-year yield: US 4.38%, Australia 4.18%
ASX futures are pointing down 20 points or 0.2 per cent to 8469.
 
some say

Investors were heavily leveraged to three TACO trades
  • that the tariff war was over,
  • that Trump’s threats against Federal Reserve chairman Jerome Powell were hot air, and
  • that the United States wouldn’t risk expanding the conflict with Iran.
weekends seem to go on forever.
 
The S&P/ASX200 fell 18.2 points, or 0.21 per cent, to 8,505.5, as the broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5.
Over the week, the top-200 stocks fell roughly 0.5 per cent.
The slump came after six sessions of surging oil prices amid escalating Israel-Iran conflict and as US President Donald Trump flagged potential American military involvement within two weeks.
The broader investor uncertainty then collided with heavy falls in big miners after weak economic data from China, as Rio Tinto plummeted to its lowest close since 2022, IG Markets analyst Tony Sycamore told AAP.
Five of 11 local sectors sectors improved on Friday, but a whopping 4.4 per cent drop in materials stocks over the week weighed on the bourse.
"The big concern for the ASX200 going into the new financial year is the elevated valuations around these banks and that no one wants to touch these big miners," Mr Sycamore said.
"There's been 23 months of falling house prices in China, and that doesn't augur well for the price of iron ore or for the price of the big miners, which remain an influential part of the index."
Financials slipped 0.6 per cent on Friday to finish roughly flat for a second week, a day after CBA etched its latest record high of $183.31 a share.
All four big banks closed in the red, with ANZ facing the sharpest decline with a 2.5 per cent slip to $28.39.
In banking news, former federal coalition finance minister Simon Birmingham was appointed the Australian Banking Association's chief executive, replacing Anna Bligh after eight years at the helm.
Australian energy stocks have had a massive week, surging almost 11 per cent since Israel launched air strikes on Iran last Friday.
Woodside is up 7.7 per cent over the same period, while Santos has rallied 12 per cent.
Oil prices hit their highest levels since January overnight as the conflict raged on, but eased to $US75.24 a barrel after Mr Trump's two-week decision window relieved fears of an immediate US attack.
The IT sector had a surprisingly good week despite broader risk-off sentiment, edging 0.3 per cent higher since Monday's open.
The Australian dollar is buying 64.76 US cents, up slightly from 64.71 US cents on Thursday at 5pm, coiling tightly near the mid-level of its recent range with the greenback.
Looking ahead, while the Middle East conflict is likely to dominate headlines, it's also a massive week for macroeconomic data.
Investors will be poring over local inflation figures, US economic growth, and manufacturing data for four of the world's seven largest economies.
ON THE ASX:
The benchmark S&P/ASX200 index finished Friday 18.2 points lower, or down 0.21 per cent, to 8,505.5
The broader All Ordinaries lost 17.9 points, or 0.2 per cent, to 8,723.5
The NZX 50 Lost -102.90 points (-0.83%) to 12466.15
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I meant this post=

The Australian equity market edged lower on Friday, with the ASX 200 declining by 18 points (-0.21%) to close at 8,505.5. Early session weakness was later offset by modest gains in the afternoon. It was a subdued day across sectors, with six finishing lower and five advancing. No sector moved more than 0.90%.

Consumer Staples led the declines as major supermarkets fell—Coles dropped 2.23%, while Woolworths slipped 1.03% to $31.81. In contrast, Treasury Wine Estates rose 0.86% ahead of its investor update on Tuesday, where the CEO is expected to address the recent profit guidance downgrade issued in early June.

The Financials sector was broadly weaker. Commonwealth Bank (CBA) dipped 32 cents to $182.53, paring gains from its record highs earlier in the week. ANZ was the worst performer in the sector, falling 2.54% to $28.39. It declined 4.18% over the week amid leadership changes announced by the bank’s new CEO.

Energy stocks finished the week flat after a strong rally. Woodside gained 0.86% to $25.85. Meanwhile, uranium stocks saw some profit-taking following strong gains earlier in the week on expectations of rising demand. Boss Energy fell 4.74%, pressured further by a broker downgrade, while Paladin slipped 1.34%.

All eyes this week will be on Wednesday’s release of May’s monthly CPI data. Economists anticipate a decline to 2.3%, which would support expectations for potential rate cuts by the RBA. On Friday, bond yields moved lower, with the 10-year yield falling 7 basis points to 4.18%.

In after-hours trade, the ASX 200 extended its losses, falling a further 20 points (-0.24%) in line with declines on Wall Street. The Australian dollar starts the week lower at 0.6433.
 

Asian stocks sink as US attacks Iran facilities; oil disruption in focus ​

Australia’s ASX 200 was among the worst performers for the day, down nearly 0.8% despite slightly upbeat PMI data for June.

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes fell 0.4% and 0.1%, while Hong Kong’s Hang Seng index lost 0.6%. Beijing condemned the U.S. attack and called on Israel to reach a ceasefire in the region.

Gift Nifty 50 Futures for India’s Nifty 50 index fell 0.1%, heralding a weak open, while South Korea’s KOSPI and Singapore’s Straits Times index shed between 0.5% and 0.7%.

The U.S. attacked three key Iranian nuclear facilities over the weekend, marking America’s official entry into the renewed Israel-Iran conflict. President Donald Trump claimed that the strike had done “monumental damage” and had wiped out the facilities, although this could not be immediately verified.

Investors were now watching for how Tehran will respond to the attack. A key point of focus is the Strait of Hormuz, a major shipping channel for Asia and the Middle East, which Tehran could block.
 
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