ASX - Azzet - Business news, investments companies & executives

Sign inJoin Now

ASX

ASX
ASX 200 pares gains as Iran tensions persist
Australian equities surrendered most of their early gains on Tuesday, as optimism around a potential de-escalation in Middle East tensions faded and investors reassessed persistent geopolitical risks. The S&P/ASX 200 Index ended the session just 13.5 points, or 0.2% higher at 8,379.4, with four of the index’s 11 sectors finishing in positive territory. Markets had initially rallied sharply at the open after United States President Donald Trump said he would postpone military strikes on Iranian energy infrastructure for five days following what he described as productive talks with Tehran aimed at ending hostilities. However, the Iranian government denied that any discussions had taken place, dampening investor confidence and prompting a pullback from intraday highs. Oil prices reflected the shifting sentiment. Brent crude initially plunged more than 10% to below US$100 per barrel on hopes of easing tensions, before rebounding over 4% as uncertainty resurfaced. The Materials sector led gains on the local market, with BHP Group adding 3%, Rio Tinto up 2.2%, and Fortescue closing 3.4% higher. Gold miners also advanced, with Northern Star Resources up 2.1%, Evolution Mining adding 3.4%, and Newmont Corporation postin
ASX
Trading floor: Myer, Orica slip; KMD trades higher
Azzet reports on three stocks with price moving updates today. Myer jumps on 1H FY26 result ~Due to financial underperformance, Myer (ASX: MYR) has been an outlier within Solomon Lew's highly profitable retail portfolio. However, the department store operator’s largest individual shareholder, Solomon Lew’s private investment vehicle, Century Plaza Investments - which holds around 26.8% to 29.7%, had lots to think about following the company’s 1H FY26 update. Shares in Myer opened around 9% higher, before retracing gains to trade 3.5% lower by 1:50 pm AEDT (2:50 am GMT) after the retailer lifted first-half profit by 32.8% to $40.3 million. While underlying growth slowed amid investment in its turnaround strategy, much of today’s earnings boost is being attributed to the integration of its apparel brands – with Lew’s Premier Investments (ASX: MYR), which saw total sales jump 24.5% to $2.28 billion. Newly acquired Just Jeans stores, bought along with four other brands from Lew - Portmans, Dotti, Jacqui E and Jay Jays - were star performers within the 1H FY26 result. While growth in womenswear, home, concessions and Just Jeans underpinned 1H FY26 growth, management also flagged a record Black Friday performance. Whi
ASX
ASX to rebound after Trump fires up Wall Street
The Australian sharemarket is primed to rocket from a 10-month low on Tuesday after comments by United States President Donald Trump spurred a slide in crude oil prices and a rebound by stocks in New York. A 1.79% surge by the ASX 200 index was flagged in futures trading on the Australian Securities Exchange (ASX), with the June contract quoted 151 points above the previous settlement at 8,567 points at the time of writing. This would be more than enough to erase the losses from the previous day when the benchmark fell for a ninth straight day, with the continuing conflict between the United States and Iran driving the index to its lowest closing level since May 2025. The three major U.S. stock indexes closed more than 1% higher on Monday (Tuesday AEDT) after Trump postponed strikes against Iranian power plants in the wake of "productive conversations" with Tehran. Oil prices plunged on the comments, with West Texas Intermediate futures and Brent crude falling more than 10%. Trump's comments about the talks were, however contradicted by Iran's Parliamentary Speaker, who posted on social media that no ‌discussion had been held with the U.S. The Dow Jones Industrial Average rose 1.4%, the S&P 500 added 1.2%, and th
ASX
ASX 200 hits fresh 10mth low as war fears weigh
The Australian sharemarket extended its decline for the ninth consecutive session on Monday, closing at a fresh 10-month low as escalating tensions between the United States and Iran unsettled investors and heightened fears of a broader conflict. The S&P/ASX 200 fell 62.5 points, or 0.74%, to 8,365.9, marking its lowest close since May 2025. Six of the index’s 11 sectors finished in negative territory. Losses were led by the materials sector, as gold prices continued to decline sharply. Stocks including Ora Banda Mining, Greatland Gold and Bellevue Gold were among the biggest fallers, falling 11%, 9.7%, and 9.1%, respectively. Larger names such as Newmont Corporation, Evolution Mining and Northern Star Resources also fell in a range of 7%-7.5%. Major diversified miners were also weaker, with BHP down 0.8% and Rio Tinto falling 1.7%, while Fortescue ticked up 0.5%. Oil prices remained mixed after U.S. President Donald Trump issued a 48-hour ultimatum for Tehran to reopen the Strait of Hormuz or face potential strikes on energy infrastructure. Iran warned that any such action would trigger retaliation and could lead to the closure of the critical shipping route. Among the Energy sector, Santos gained 0.9%, Wo
ASX
Trading floor: Medibank, MAH up; Perseus falls
Azzet reports on three stocks with price moving updates today. Medibank Private rises after Fed court rejects application for leave to appeal ~ Shares in Medibank Private (ASX: MPL) defied this morning’s share market carnage - up 2.9% by 1:55 pm AEDT (2:55 am GMT) - after falling 2.7% on Friday following revelations that the Full Federal Court refused the private health insurer’s application for leave to appeal a critical ruling regarding its 2022 cybercrime event. Given the court's decision significantly impacts the company's legal position in the ongoing consumer class action, it’s not immediately clear why the stock is defying the sea of red across all market sectors today. However, the upward movement is likely driven by investor interest following its recent dividend payout and positive outlook for premium increases. Today’s vote of confidence could be a delayed response to last month’s 1H FY26 result, which had a lot for the market to digest. Within its first half result, Medibank reported a 1.9% increase in net resident policyholders, with growth momentum doubling compared to the same period last year. In addition to receiving a fully franked interim dividend of 8.3 cents per share, a 6.4% increase over the

ASX
Wall Street worries drives direction on ASX
The slide in Australian share prices is set to continue on Monday following a sharp fall in United States stocks on Friday. Futures trading is pointing to a 1.8% plunge in equities when the Australian Securities Exchange (ASX) opens at 10:00 am AEDT (11:00 pm GMT Sunday) with the June contract of the ASX 200 index priced 156 points below the prior settlement at 8,343 points. The market's direction is being driven by Wall Street, where the benchmarks ended sharply lower on Friday (Saturday AEDT) as the three-week-long U.S.-Israeli war against Iran stoked concerns about higher oil prices, inflation and the potential for higher interest rates. The Dow Jones Industrial Average fell 1%, the S&P 500 dived 1.5% to its lowest level in six months, and the Nasdaq Composite plunged 2%. "The market is finally settling into the idea that this may go on longer than initially expected, and I think that's why markets are selling off. This conflict may go on not for just a few weeks, but maybe beyond several months," Longbow Asset Management CEO Jake Dollarhide was quoted in a Reuters article as saying. Australian shares had dived to a four-month low on Friday with the ASX 200 losing 0.8% to 8,428.4 points, bringing losses over the
ASX
ASX 200 hits fresh 4mth low; down 2.2% on week
Australian shares fell to a four-month low on Friday, with the benchmark extending weekly losses as investors grappled with rising energy costs and a more hawkish global interest rate outlook. The S&P/ASX 200 Index dropped 69.4 points, or 0.8%, to 8,428.4, with six of the 11 sectors finishing in negative territory. The index finished down 2.2% for the week, marking a third consecutive weekly decline. The sell-off comes as markets reprice the outlook for domestic monetary policy, following firm signals from the Federal Reserve, European Central Bank and Bank of England. Materials stocks led the declines, with BHP falling 1.8%, Rio Tinto dropping 2.9%, and Fortescue Metals Group easing 0.4%. Gold miners also came under pressure after bullion recorded its sharpest weekly fall since March 2020, driven by rising inflation and diminishing expectations for interest rate cuts. Northern Star Resources lost 2.4%, Newmont fell 2.6%, while Evolution Mining added 1.6%. The Energy sector posted modest gains despite a pullback in oil prices. Brent crude fell 2.5% to US$106.60 per barrel after Benjamin Netanyahu signalled Israel would refrain from further attacks on Iranian energy infrastructure. Among local names, Santos
ASX
Trading floor: PMV, 29Metals gain; EOS sinks
Azzet reports on three stocks with price moving updates today. Premier Investments up on strategic update ~ Shares in Premier Investments (ASX: PMV) were trading 1% higher by 1:30 pm AEDT (2:30 am GMT) after the market reacted favourably to the retail conglomerate's mixed bag half year result. At face value, it looks as if investors are looking beyond the conglomerate's reported a 0.5% decline in retail sales to $452.8 million – which missed expectations – and focused on a significant leadership reshuffle and a strategic dividend. Net profit after tax of $101.7 million slightly exceeded analyst expectations and allowed the company to declare a fully franked interim dividend, after skipping one last year due to its demerger and capital return. A payout of 45 cents per share, based on its last close price, represents a generous 3.6% dividend yield. A 4.9% increase in Peter Alexander sales to $312.3 million was offset by a 10.7% decline in Smiggle sales to $140.5 million, due to an 8.7% reduction in store numbers to 282 as the brand continues its focus on operational efficiencies. However, the market clearly liked the conglomerate's efforts to address this decline, with the chairman of Premier Investments, Solomon Lew
ASX
ASX to follow Wall Street in plumbing four month lows
The Australian sharemarket is set to fall past four month lows when trading resumes on Friday after United States stocks dropped to similar levels on worries that the inflationary impact of surging oil prices would limit the chances of more interest rate cuts. The ASX should open down 0.06% when the Australian Securities Exchange (ASX) opens at 10:00 am AEDT (11:00 pm GMT Thursday), according to futures trading, which priced the June share price index contract five points below the prior settlement at 8,530 points. Burrell Stockbroking wealth adviser Adam Dight said he was advising clients whose portfolios had been built for any situation to “sit it and do nothing” because the volatile Middle East conflict made it difficult to invest. “Diversification is what saves you in the end. If you have more money and you can stomach the volatility, just keep averaging in,” he said. Dight recommended selling energy stocks like Woodside Energy (ASX: WDS) and buying property trusts and Washington H. Soul Pattinson and Company (ASX: SOL). Property trusts like Goodman Group (ASX: GMG), Scentre Group (ASX: SCG), Stockland (ASX: SGP), GPT Group (ASX: GPT) and Charter Hall Group (ASX: CHC) represented good value after being heavily s