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ASX falls 0.8% as tech and miners lead declines
The Australian sharemarket finished lower on Friday as renewed Middle East tensions pushed oil prices back above US$100 a barrel, while concerns over artificial intelligence spending triggered another wave of selling across technology stocks. The S&P/ASX 200 Index fell 66.7 points, or 0.8%, to close at 8,772.3, with seven of the benchmark's 11 sectors ending the session in negative territory. For the week, the index slipped 0.3%. The Information Technology sector led the declines after a weak session on Wall Street, where earnings from major U.S. technology companies reignited concerns over escalating AI-related capital expenditure. Xero fell 4.5%, WiseTech Global lost 4.6%, TechnologyOne declined 3.9%, and NextDC dropped 3.6%. The Materials sector also came under pressure as weakness across the major miners weighed on the broader market. BHP fell 2.9%, Rio Tinto lost 1.7%, and Fortescue declined 1%. Gold producers retreated after spot gold prices extended declines. Northern Star Resources fell 3.9%, Evolution Mining lost 2.4%, and Newmont declined 1.5%. Energy stocks bucked the broader market as oil prices rallied into triple digits following a sharp escalation in the Middle East conflict. Crude prices sur
ASX
ASX set to fall as oil rises on M.East escalation
Australian shares are set to open lower on Friday, tracking sharp losses on Wall Street after renewed hostilities between the United States and Iran pushed oil prices above US$100 a barrel, reigniting concerns about inflation and higher interest rates. ASX 200 futures were down 50 points, or 0.6%, to 8,750, signalling a weaker start for the local market. Overnight, all three major U.S. benchmark indexes finished lower. The Dow Jones Industrial Average fell 1%, the S&P 500 declined 1.2%, while the Nasdaq Composite tumbled 2.2% as investors reacted to earnings from major technology companies. Tesla plunged 14.5% after reporting negative free cash flow, while Google parent Alphabet dropped 6.9% after outlining higher artificial intelligence investment plans, renewing investor concerns over the hundreds of billions of dollars being committed to AI infrastructure. "The numbers in aggregate are great but many companies have had a story that's caused the stock to fall," Matt Miskin, co-chief investment strategist at Manulife John Hancock Investments, told Reuters. "Any chink in the armour and the stocks are being sold off," he said, pointing to investor concerns over rising capital expenditure. In after-hours trading, I
ASX
ASX adds 0.2% after jobs surge; materials leads gains
The Australian sharemarket finished modestly higher on Thursday after a stronger-than-expected employment report reinforced expectations of further Reserve Bank of Australia interest rate hikes, while gains in mining and energy stocks offset weakness in the technology sector. The S&P/ASX 200 Index rose 16.0 points, or 0.2%, to 8,839.0, with five of the 11 sectors closing higher. Investor sentiment turned more cautious after Australian labour market data showed 76,000 jobs were created in June, far exceeding market expectations for a gain of 15,000, while the unemployment rate remained steady at 4.4%. The stronger employment report lifted the Australian dollar 0.4% as traders increased expectations that the RBA will raise interest rates again to contain inflation. The Materials sector led the market higher, with major miners advancing as commodity prices strengthened. BHP rose 1.5%, Rio Tinto gained 0.5%, and Fortescue added 1.0%. Gold miners also benefited from elevated bullion prices, with Northern Star Resources and Evolution Mining each rising 1.9%, while Newmont gained 0.9%. James Hardie jumped 6.1% after upgrading its quarterly sales guidance to between US$1.449 billion and $1.475 billion for the three month
ASX
ASX set to open higher; focus on labour data
Australian shares are set to open higher on Thursday, supported by firmer commodity prices despite a subdued lead from Wall Street, as investors continued to monitor rising oil prices, corporate earnings and the outlook for Australia's labour market. ASX 200 futures were up 72 points, or 0.8%, indicating the benchmark index would open around 8,839. On Wall Street, the major U.S. indexes finished mostly lower as investors assessed earnings from major technology companies and remained cautious over higher energy prices. The Dow Jones Industrial Average slipped 0.01%, the S&P 500 fell 0.1%, and the Nasdaq Composite declined 0.6%. In after-hours trading, both Alphabet and Tesla fell around 3% as investors digested their quarterly results and management commentary, with concerns centred on rising AI investment costs at Alphabet and weaker profitability at Tesla. "Investors have become a lot more discerning and specific as to where they're choosing to invest in the AI trade," Charles Schwab head of macro research and strategy Kevin Gordon was quoted as saying in a Reuters story, noting the divergence in performance between software and semiconductor stocks. He added that rising oil prices were also influencing broader
ASX
ASX adds 0.3%; miners, energy offset broad losses
Australian shares edged higher on Wednesday as strength in mining and energy stocks outweighed broad-based weakness across the market. The S&P/ASX 200 Index rose 29.7 points, or 0.3%, to close at 8,823.0, despite eight of the 11 sectors finishing lower. The Materials sector led gains throughout the session as investors bought into major miners after copper climbed overnight and gold prices rebounded. Among the major miners, BHP and Rio Tinto each gained 2.5%, while Fortescue added 0.3%. Gold producers also advanced in line with higher bullion prices. Northern Star Resources climbed 3.5%, Evolution Mining rose 4.3%, and Newmont gained 3.5%. Lynas Rare Earths fell 3.6% after revealing the estimated cost of expanding its Malaysian heavy rare earths processing facility had increased from A$180 million to $294 million, citing additional equipment requirements and higher construction costs. The Energy sector also provided support as crude oil prices extended gains on escalating Middle East tensions. Santos rose 1.0%, Woodside Energy added 1.3%, Beach Energy gained 0.6%, and Viva Energy advanced 1.6%. Paladin Energy was among the session's strongest performers, surging 6.7% after forecasting uranium production fro

ASX
ASX set for gains as Wall St tech rally lifts sentiment
Australian shares are poised to open higher on Wednesday after a broad rally on Wall Street, where a rebound in semiconductor stocks offset concerns over renewed hostilities between the United States and Iran that pushed oil prices to their highest level since early June. ASX 200 futures rose 21 points, or 0.2%, to 8,763, pointing to a firmer open. U.S. markets were led higher overnight by chipmakers, with investors returning to the sector following last week's sharp pullback. Sandisk surged 14.3%, Micron Technology gained 12.2%, Western Digital jumped 12.5%, while Seagate Technology advanced 11.1%. "Investors are really buying back in to the semis ahead of earnings because they have fear of missing out (FOMO), that these companies could report outsized earnings beats and increase their outlooks and they don't own as much as they did before the most recent pullback," said Lindsey Bell, chief investment strategist at 248 ⁠Ventures in Charlotte, North Carolina, was quoted as saying in a Reuters story. Bell warned, however, that the recent rally has lifted expectations ahead of earnings season. "The numbers are going to be really good, but the stocks are also priced for perfection," she added. The Australian shar
ASX
ASX ends flat as tech, miners offset health care losses
Australian shares finished little changed on Tuesday as investors returned to technology stocks and bought into gold miners amid easing oil prices, while weakness in the major banks and healthcare sector capped gains. The S&P/ASX 200 Index edged up 2.0 points to 8,793.3, with five of the 11 sectors closing higher. Technology was the strongest-performing sector as investors rotated back into chip-related stocks following gains across Asian markets. Xero rose 2.1%, WiseTech Global gained 0.9%, and TechnologyOne advanced 2.5%. NextDC surged 7.7% to lead the benchmark after reporting pro forma contract utilisation increased 11% to 740 megawatts as at 30 June 2026. The data centre operator maintained its previous FY26 guidance. The Materials sector also strengthened. Among the major miners, BHP gained 1.3%, Rio Tinto edged 0.03% higher, while Fortescue fell 1.3%. South32 rallied 6.6% after releasing a stronger-than-expected quarterly production update earlier in the week. Gold miners advanced broadly as spot gold prices climbed, with Northern Star Resources rising 3.3%, Evolution Mining gaining 5.6%, and Newmont adding 2.0%. Healthcare was the weakest-performing sector. CSL fell 1.0%, Sonic Healthcare lost 2.6%,
ASX
ASX set to fall as oil prices continue climb
The Australian sharemarket is expected to open lower on Tuesday, tracking declines on Wall Street as all three major United States benchmarks finished in negative territory amid rising oil prices and escalating tensions between the U.S. and Iran. ASX 200 futures were down 36 points, or 0.4%, at 8,717.0, signalling a weaker start for the local market. U.S. markets ended lower overnight, with the Dow Jones Industrial Average falling 0.6%, the S&P 500 declining 0.2%, and the Nasdaq Composite slipping 0.1%. Oil prices briefly climbed above US$89 per barrel as geopolitical tensions persisted, with President Donald Trump warning of a severe response following the deaths of American soldiers. "Every time Iran kills an American Soldier they will pay for that killing many times over!" Trump said in a Truth Social post. Shares of Google parent Alphabet rose 1.5% after reports that the company is developing a server chip designed to optimise its Gemini artificial intelligence model. The Australian sharemarket finished Monday's session slightly lower, declining 5.4 points, or 0.1%, to 8,791.3. On the bond markets, Australian government yields moved lower, with 10-year and two-year rates falling 0.04% and 0.6% to 4.978% an
ASX
ASX ticks down 0.1% as tech falls, energy gains
The Australian sharemarket edged lower on Monday as weakness in technology and mining stocks outweighed gains in the energy sector, with rising oil prices following continued United States-Iran hostilities keeping investors cautious. The S&P/ASX 200 Index slipped 5.4 points, or 0.1%, to close at 8,791.3, with six of the 11 sectors finishing in negative territory. Information technology was the weakest-performing sector as investors continued to rotate out of growth stocks. Xero fell 2.1%, WiseTech Global dropped 3.6%, TechnologyOne declined 1.5%, NextDC eased 0.5% and Life360 lost 1.4%. The Materials sector also weighed on the benchmark. Rio Tinto fell 1.9%, Fortescue Metals declined 0.5%, while BHP ended the session unchanged. South32 bucked the broader trend, rising 4.6% after exceeding its 2026 production guidance across its key operations. Strong performances from its Sierra Gorda copper mine, Cannington and manganese assets helped lift quarterly sales volumes by 15%. Gold miners also retreated despite bullion holding above the US$4,000 an ounce level. Northern Star Resources fell 1.0%, Evolution Mining declined 2.1%, and Newmont lost 1.1%. Energy stocks outperformed as crude oil futures climbed more th