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ASX 200 slides to 6mth low, posts 4th weekly loss
The Australian sharemarket finished lower on Friday, closing at its weakest level in six months as uncertainty surrounding United States interest rates weighed heavily on global risk sentiment. Sentiment deteriorated after the September U.S. nonfarm payrolls report showed 119,000 jobs were created, well above forecasts for 50,000. The S&P/ASX 200 Index dropped 136.2 points, or 1.6%, to 8,416.5, with nine of the eleven sectors closing in negative territory. The benchmark is down 2.5% for the week and has lost 5.2% so far in November. Materials stocks led the declines, sliding 3.9% overall. BHP fell 3.2% after Bloomberg reported that China’s state-owned iron ore buyer had instructed steel mills and traders to halt purchases of a particular BHP product, adding to an existing ban and escalating tensions over a new supply contract. Rio Tinto dipped 3.2% and Fortescue Metals retreated 5.5%. Gold miners weakened in tandem with spot prices after the precious metal failed to break above the key US$4,100 resistance level. Northern Star shed 4%, Newmont lost 6.1% and Evolution Mining closed 4.5% lower. Among individual stocks, Lovisa sank 13.8% after reporting a moderation in same-store sales growth from earlier stron
ASX
Trading floor: Lovisa, ASG, Accent Group trade lower
Azzet reports on three ASX-listed retail stocks with price moving updates today. Lovisa Holdings falls after posting trading update ~ Shares in Lovisa (ASX: LOV) were trading 10.4% lower by 2:40 pm AEDT (3:40 am GMT) after the affordable fashion jewellery chain updated the market on slower store sales growth, which missed consensus estimates by a wide margin. While total sales for the first 20 weeks were up 26% on the previous period, ahead of consensus expectations of 22% for 1H FY26, on a like for like basis, the 3.5% growth was below consensus expectations of 5.3%. The market clearly wasn’t happy about what appears to be a deceleration from Lovisa's August trading update, when like for like growth hit 5.6%. Much of the growth in total sales came from the group’s focus on expanding its global store footprint across all markets in which it operates. The 44 net new stores opened for the financial year to date - including 62 new stores opened and 18 closures (including 6 relocations) - takes the store network to 1,075 stores across more than 50 markets. Overall, the group is currently trading from 148 more stores than this time last year. To the uninitiated, Lovisa specialises in providing on-trend fashion jewel
ASX
Sellers to dominate ASX after Wall St slump
The rebound in Australian share prices is set to be short lived with the market expected to follow the example set on Wall Street overnight and plunge when it opens on Friday. With no major corporate or economic news scheduled the Australian Securities Exchange (ASX) is likely to mimic the performance of United States stocks, which resumed their slide on Thursday (Friday AEDT). The S&P/ASX 200 should begin 1.6% below the previous close, based on ASX futures trading, which quoted the December contract of the S&P/ASX 200 share price index 142 points under the previous settlement at 8,429 points at the time of writing. Burrell Stockbroking wealth adviser Adam Dight said investors thinking of selling part of their portfolio before Christmas should begin today. “There’s just no news. You need news to keep things frothy. I think the sellers (will) just dominate from here until Christmas,” he said. Investors were likely to pause until the next quarterly reporting season in the United States in three months, as stocks like market-leading artificial intelligence giant Nvidia traded sideways to allow earnings growth to lower the high earnings multiple. The three main indexes in New York fell on Thursday as the brief rally
ASX
ASX 200 catches a wave as miners, technology rally
The Australian sharemarket rallied from a five-month low on Thursday, with the Technology and Materials sectors leading advances after Nvidia’s blockbuster earnings reignited global appetite for artificial intelligence and growth plays. The S&P/ASX 200 Index climbed 104.8 points or 1.2% to finish at 8,552.7, as nine of 11 sectors finished in the green. Materials were among the strongest performers, with heavyweights BHP, Rio Tinto and Fortescue Metals trading 1.9%, 2.2%, and 4.2% higher, respectively. Gold miners also advanced as bullion retested the key US$4,100 level, lifting 0.3% overnight. Northern Star added 3.8%, Evolution Mining gained 3.3% and Newmont advanced 1.2%. Technology shares were a major tailwind for the benchmark. Block surged 10.9%, leading index gains after investors responded positively to its three-year strategic plan. Xero gained 1.6%, WiseTech Global lifted 2.1%, TechnologyOne added 4.4% and Codan recorded gains of 1.5%. Financials added further support, with Macquarie rising 2.4%, while Commonwealth Bank and Westpac gained 1.1% apiece, National Australia Bank lifted 1.4% and ANZ finished 0.9% higher. In company news, DroneShield slipped 4.1%, leading declines on the day after respon
ASX
Trading floor: LKE, Stakk Ltd, Marmota Ltd move higher
Azzet reports on three small cap stocks with price moving updates today. Lake Resources rallies following market update ~ Shares in Lake Resources (ASX: LKE) were up 13.8% by 2:25 pm AEDT (3:25 am GMT) after the lithium developer announced significant progress with its Kachi Lithium Brine Project, achieving substantial resource upgrades and cost reductions. The project now boasts a total resource of 11.1 Mt LCE, making it the largest independent development in Argentina’s lithium triangle, with improved resource estimates and reduced capital and operating expenses. Substantial resource upgrades for the company’s flagship Kachi Lithium Brine Project during FY25 included: An upgraded Measured Resource, which rose by more than 25%to 4.2 million tonnes LCE (lithium carbonate equivalent). Measured and Indicated Resource increased by around 10% to 8.2 Mt LCE. Lake also announced a DFS Addendum for Phase One of Kachi, showing material capex and opex reductions:Capex fell 16%.Opex declined by 3%.NPV improved to US$1,469 million, among other enhancements.Post-balance date, in July 2025, Lake announced the successful completion of the Front-End Engineering Design for Kachi’s power supply, and in August 2025, the company re

ASX
Positive ASX start expected after higher Wall St close
Australian shares are set to open higher on Thursday following a stronger session in the United States where technology stocks rebounded from a sell-off ahead of key earnings from Nvidia. A 0.6% rise in the S&P/ASX 200 index is expected based on futures trading on the Australian Securities Exchange (ASX) where the December share price index was quoted 53 points over the previous settlement at 8,516 points. This direction was dictated by Wall Street, where stocks bounced back from four successive down days on Wednesday (Thursday AEDT) as investors awaited the latest quarterly results from the world’s largest company. The Dow Jones Industrial Average finished up by 0.1%, the S&P 500 gained 0.4% and the technology-laden Nasdaq Composite beat both with a 0.6% advance. Nvidia put on 3% during regular trading, but Ingalls & Snyder Senior Portfolio Strategist Tim Ghriskey said the stock was "almost guaranteed to be volatile" once the results were published. "When you're the biggest company out there, you're sort of in the headlights, and it often does not make sense how the stock reacts in the short term," he was quoted in a Reuters story as saying. The Australian sharemarket reset five-month lows on Wednesday as the S&
ASX
ASX 200 extends 5mth low; DroneShield plunges on CEO exit
The Australian sharemarket finished lower on Wednesday, extending declines to fresh five-month lows as losses across the Financial, Utilities and Technology sectors outweighed strength in Energy and Materials. The S&P/ASX 200 fell 21.20 points or 0.25% to 8,447.9, with seven of the 11 sectors in the red. The muted session followed a sharp selloff the day prior, when A$60 billion in market value was wiped out amid mounting nerves ahead of Nvidia’s earnings, due on Thursday morning AEDT. Materials led the market higher with BHP, Rio Tinto and Fortescue Metals Group gaining 0.1%, 0.2% and 1.6%, respectively. Gold prices firmed on renewed safe-haven demand, sending Northern Star up 2.9%, while Evolution Mining climbed 2% and Newmont rose 1.3%. Crude oil prices also gained around 1% overnight as markets prepared for deeper disruptions to Russian supply. Woodside rose 1.2%, Santos gained 0.8%, and Beach Energy added 0.4%. The Technology sector ended 0.5% lower overall, with Codan down 3.9%, Life360 falling 0.8%, while WiseTech Global edged up 0.4% and Xero gained 0.3%. However, renewed caution across the broader market weighed heavily on the major banks, with Commonwealth Bank down 1.3%, National Australia Bank f
ASX
Trading floor: Nufarm, KMD, OMG Group move higher
Azzet reports on three stocks with price moving updates today. Nufarm jumps on mixed FY25 update ~ Shares in Nufarm (ASX: NUF) were up 9.8% by 1:50 pm AEDT (2:50 am GMT), with the market responding positively to revelations of an 18% lift for all regions of its core crop protection business, despite the agribusiness posting a significant statutory loss for the year. While underlying earnings fell 3% to $302.5 million, what also captured the market’s imagination this morning was both the encouraging sentiment within management’s underlying commentary, and the group’s efforts to slash net debt by $538 million from the first half. Management also alluded to good momentum in crop protection following record results in North American turf & ornamental and Asia, and a sharp turnaround in Europe. Nufarm’s statutory net loss of $165.3 million for FY25 - underpinned by $142.4 million in mostly non-cash charges linked to a review of its Seed Technologies unit and a performance improvement plan - compares to a loss of $5.6 million in FY24. Offsetting crop protection growth, the Seed Technologies business, which posted underlying earnings of $13.9 million - down from $62.6 million a year earlier – due to losses in Omega-3, which
ASX
ASX to open down, cushioned from Wall Street fall
Australian share prices are set to continue their decline from a five-month low on Wednesday, with Wall Street setting a negative tone, but the extent of the fall will be limited by a range of factors. The S&P/ASX 200 index is expected to begin 0.1% below the previous close based on Australian Securities Exchange futures trading, which quoted the December contract 10 points under the previous settlement at 8,499 points. Stocks closed sharply lower in New York on Tuesday as investors awaited the latest quarterly earnings report on Wednesday (Thursday AEDT) from Nvidia amid continuing concerns over stretched valuations for artificial intelligence-related (AI) stocks. A weaker-than-expected profit forecast from Home Depot also raised concerns about the housing market and the health of the American consumer. The Dow Jones Industrial Average dropped 1.1%, the S&P 500 gave away 0.8% and the Nasdaq Composite slid 1.2%. "Investors are sensing that the tenor of the market has shifted," Horizon Investment Services Chief Executive Officer Chuck Carlson was quoted saying in a Reuters story. "They don't necessarily want to be too bullish on tech in case Nvidia doesn't hit the ball out of the park." Chief CommSec Economist