The ASX 200 closed down 13 points at 8,831 (0.2%) after drifting from positive to negative throughout the day. The banks were a little sloppy, with WBC down 1.1% and the Big Bank Basket falling to $273.60 (-0.3%). The insurance sector also eased, while the rest of the financials were mixed.

REITs also had a mixed session, with CHC down 0.7%, while GMG edged slightly higher. Industrials lacked direction. Healthcare was the standout sector, with CSL up 2.0%, RMD rising 1.3% and SIG adding 1.1%. Technology stocks also found support, with solid gains in WTC and XRO, both up 7.3% and 1.8% respectively, while REA and CAR also finished higher.

Resources were mixed, with BHP down 0.8%, while FMG rebounded 0.9% from Friday's losses. The gold sector was in focus after GMD launched a rival bid for VAU, joining RRL in the takeover battle. Despite the M&A activity, NST fell 1.8% and EVN eased 1.6%. Lithium stocks were also slightly weaker, with PLS down 1.7% and LTR falling 2.9%.

In the oil and gas sector, despite little movement in crude oil futures, positive broker commentary helped WDS rise 0.8% and STO gain 1.4%. Coal stocks drifted lower, while uranium stocks were little changed.

In corporate news, it was all about the new VAU bid from GMD. We also saw a solid quarterly from GGP, while WOR firmed 0.2% after securing a new consultancy agreement. In the tech space, IFT edged 1.4% higher following an independent valuation of its holding in CDC.

There was nothing of note on the economic front today.

Asian markets mixed, Nikkei 225 down 0.5%, HK up 1%, China up 0.2%. Kospi down 1.5%.

US futures: Dow up 8 pts, Nasdaq up 223.

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US Markets closed Friday - Gold steady - SPI down 35 - GMD bids for VAU - Quarterlies continue.

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US equity indices closed mixed on Thursday, as tech volatility gripped trading ahead of the holiday, despite easing concerns over rate hikes. The S&P 500 was flat and the Nasdaq 100 fell 0.8%. Chipmaker stocks fell for a second day as investors questioned whether AI optimism had pushed valuations beyond reasonable levels. Fresh developments included reports that OpenAI was in talks to sell a 5% stake to the US government, while Meta (-4.9%) said it may monetize its excess compute capacity. Micron Technology sank 7%, Applied Materials slipped 7.4%, and Advanced Micro Devices dropped 4.3%. SanDisk (-14%) and Marvell (-9.8%) tanked. Tesla fell 7.5% despite a strong deliveries report. Still, the Dow climbed 595 points to a new record high amid strength in traditional sectors, as a softer-than-expected June jobs report pushed back expectations of an imminent Fed hike. Apple gained 4.8%, while Visa and Walmart both rose around 3%. For the week, the index added about 1.8%.

SPI up 52 - Gold recovers 

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The ASX 200 rose just 2 points to 8725 after an early swoon. NAB jumped 3.8% on a broker upgrade, WBC followed, up 2.2%, and the Big Bank Basket rallied to close at $269.80 (+1.1%)

Financials were mixed, although insurers fared better, with QBE up 0.5% and SUN rising 0.8%. REITs continued to flounder, with GMG down 0.3% and SCG off 0.8%. Industrials also showed weakness, with WES falling 4.0% as brokers trimmed forecasts. SGH slipped 5.0%, while retailers came under pressure, with JBH down 1.7%, LOV falling 2.1% and HVN off 3.3%.

Tech stocks were mixed again. WTC fell 1.6%, while XRO was slightly firmer following its AI deal with Microsoft. NXT dropped 5.9% and MP1 fell hard as cloud providers had a rethink. The All-Tech Index slipped 0.5%.

Resources enjoyed a solid bounce in the gold sector as Kevin Warsh played a straight bat in Portugal. NST rose 5.5% and NEM gained 2.6%. Lithium stocks remained under pressure, with PLS up 0.4% and LTR slipping 3.2%. There was little to write home about in the rare earths sector. Oil and gas stocks eased as crude fell again, with WDS down 1.3% and STO off 1.4%. Uranium stocks were modestly higher.

In corporate news, EOS gained 2.5% after securing another order from the Middle East. PPT rose 3.5% following a non-binding indicative offer from EQT, while IPX fell 3.0% after completing an acquisition. BHP announced it will spend $2.2 billion to reopen its mothballed Cerro Colorado copper mine.

On the economic front, Balance of Payments numbers were released today.

Asian markets were weaker, with the Nikkei 225 down 1.4%, the Kospi off 1.2%, Hong Kong up 0.9% and Shanghai down 1.9%. US futures were drifting higher, with the Dow up 27 points and the Nasdaq ahead by 53 points. Fair value is slightly negative, pointing to a modest start tonight. US markets are closed on Friday for the Independence Day holiday.

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The ASX 200 dropped 56 points today to close at 8,723 (0.6%), with the banks suffering steep losses. CBA dropped 2.4%, and ANZ fell 2.5%, with the Big Bank Basket declining to $266.89 (-2.3%). Other financials were mixed, with MQG falling 1.2%, although HUB had a good day, rising 5.4%. REITs were again a little on the nose as distributions and higher bond yields continued to weigh on the sector. SCG fell 0.3%, and CHC dropped 2.7%. Industrials painted another mixed picture, with ALL falling 2.1%. Retail was also mixed, with JBH down 2.8% and WOW falling 1.8%. COL was hit hard following reports it was interested in acquiring the Green Cross veterinary business. TLS fell 1.0%. Healthcare was again mixed, with CSL continuing to add to recent gains, rising 3.2%, while RMD fell 1.6%. In technology, XRO dropped 2.8%, while WTC fell 0.4%. The All-Tech Index slipping 1.0%, helped by another strong performance from CPU, which gained 1.0%.

In resources, a mixed picture as S32 sold its aluminium business to AAI, jumping 9.7%. BHP up 0.9% and FMG managing a 0.5% gain. Gold miners continue to push lower, NST down 0.8% and NEM falling 1.9%. Lithium stocks improved, PLS up 1.8% and LTR roaring 2.4% ahead. Oil and gas flat, uranium stocks slightly better, PDN up 6.8%.

In corporate news, IPX jumped 5.9% after it secured up to $US6.6m from the US DoD to expand domestic production. ORI rose 1.6% after it agreed to proceed with its Hunter Valley Hydrogen Hub in NSW, with construction scheduled to begin in 2026 and first production targeted for early 2029. ASX reached an agreement with the corporate regulator and the Reserve Bank to reset its risk review program. WDS has assumed the role of operator of the Gippsland Basin oil and gas venture from 50% partner ExxonMobil. PPT jumped 16.8% before a trading halt as EQT look to have made a NBIO.

On the economic front, building approvals fell slightly.

Nikkei 225 up 0.8%, Kospi down1.2% HK closed and Shanghai unchanged. US futures drifting DJ down 163, Nasdaq down 81. 

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US stock indexes closed higher on Tuesday, supported by strength in the technology sector and easing inflation risks. The S&P 500 gained 0.8%, while the Nasdaq 100 rose 1.7%, and the Dow Jones added 136 points to close at a record high of 52,319. Chipmakers extended their rebound as investors looked past recent concerns over stretched AI-related valuations, encouraged by strong guidance from semiconductor producers despite elevated hyperscaler spending. Nvidia gained 2.6%, AMD rose 7.7%, and Intel advanced 6%. Meanwhile, oil prices remained near pre-conflict levels, easing concerns that the Federal Reserve could be forced into a hiking cycle. The softer inflation backdrop also supported traditional sectors, helping the Dow outperform broader benchmarks in June. Considering Q2, the S&P rose more than 14% and the Nasdaq surged about 20%, their strongest quarterly performances since Q2 2020. The Dow gained more than 12%, its best quarterly performance since Q4 2022.

SPI up 8 - Gold holds above $4000 - S32 sells aluminium assets to Alcoa for US$5.8bn

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The ASX 200 finished the financial year on a lacklustre note, falling 45 points to 8779 (0.5%) as the banks gained and gold miners came under renewed pressure. The Big Bank Basket rose to $273.04 (0.4%) despite CBA holding firm. Other financials fared well too with ZIP up 3.5% and SUN rising 1.2%. REITs struggled as ex-dividend stocks weighed on the sector, with GMG down 3.0% and SCG off 1.5%. Industrials were mixed. TLS fell 1.6%, while tech eased, with XRO up only 0.1% and WTC falling 2.4%. The All - Tech Index gained 1.3% as CPU rallied hard, up 4.0%. Retail stocks drifted lower, while ALL rose 1.3%. Healthcare succumbed to sellers, with CSL down 0.6% and RMD falling 2.2%.

Resources were a sea of red. Gold miners were whacked again as bullion slipped below US$4,000. NST fell 5.8% and EVN dropped 5.2%. Copper stocks were slightly firmer, with SFR up 1.0%, while lithium stocks enjoyed a better session, led by LTR, which ‘roared’ back, rising 1.5%. The big iron ore miners all fell, with BHP down 0.7%, FMG off 1.9% and BSL 3.8% weaker. Oil and gas stocks bucked the trend, with WDS up 0.9% and STO rising 0.8%. Uranium stocks drifted lower.

In corporate news, CKF fell 2.5% after reporting slowing sales in Germany. ALX was unchanged as IFM increased its stake to 55%.

On the economic front, RBA Minutes today. ANZ Consumer confidence picked up slightly. 

Nikkei 225 up 1.3%, Kospi up 1.2% HK down 1.4% and Shanghai up 0.7%. US futures firm DJ up 4, Nasdaq up 76. European futures slightly higher.

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US stocks closed sharply higher on Monday, with the S&P 500 rising 1.2%, the Nasdaq 100 surging 2.3%, and the Dow Jones gaining 307 points to finish at a fresh record high, as investors reassessed the AI trade following the recent selloff. Sentiment was also supported by easing tensions between the US and Iran over the weekend, with President Trump saying peace talks with Iran are set to resume on Tuesday. Communication services, consumer discretionary, and technology stocks led the advance. Alphabet jumped 5% on its first trading day as a Dow component replacing Verizon, while Nvidia gained 1.3%, Amazon climbed 3.2%, Meta advanced 2.2%, and Tesla soared 8.5%. Comcast also rallied 4.5% after announcing plans to spin off its media and technology businesses into two separately traded public companies. On the downside, materials was the weakest-performing sector. Apple fell 0.7%, Microsoft declined 1.2%, Walmart slipped 0.9%, and Verizon tumbled 5.2%.

SPI up 3 - Gold slips - RBA Minutes today.

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