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ASX rises 0.4%; GYG jumps 9.6% on US exit
The Australian sharemarket closed higher on Friday, with the benchmark index posting a modest weekly gain as investors welcomed signs of potential progress in peace negotiations between the United States and Iran. The S&P/ASX 200 Index rose 35.3 points, or 0.4%, to finish at 8,657.0, with six of the 11 sectors ending the session in positive territory. For the week, the benchmark gained 0.3%. The Materials sector led the market higher, supported by gains among the major miners. BHP added 1.1%, Rio Tinto lifted 1.7%, while Fortescue slipped 1%. Energy stocks also strengthened as oil prices pushed higher after three consecutive sessions of declines. Market sentiment remained sensitive to developments surrounding Iran’s uranium program and control of the Strait of Hormuz. Woodside Energy gained 0.9%, Santos added 1.4%, and Viva Energy rose 0.4%. Telecommunications stocks were among the weakest performers, while REA Group and SEEK ranked among the market’s largest decliners, falling 4.1% and 5.9%, respectively. Tuas finished flat after terminating its proposed A$1.5 billion acquisition of Singapore-based telecommunications company M1. The stock has plunged 62.1% over the past week after Singapore regulators laun
ASX
Upward momentum continues to build on ASX
The Australian sharemarket is expected to keep rising when trading resumes on Friday after United States stocks strengthened amid hopes of success in U.S. peace talks with Iran. A 0.4% increase in the ASX 200 is in prospect according to the Australian Securities Exchange (ASX) trading with the June share price index contract last quoted 35 points or 0.40% higher at 8,681 points at the time of writing. The Australian benchmark indicator had gained 1.5% on Thursday in what Burrell Stockbroking wealth adviser Adam Dight called “a dead cat bounce”. He said clients were being advised to reduce cash holdings and invest in selected stocks, including property trusts that had been heavily sold off. “We know stocks bottom with bad news and you can’t get worse news than the (Federal) Budget (which increased taxes on property and other assets),” he said. Preferred property trusts included Scentre Group (ASX: SCG), GPT (ASX: GPT), Stockland (ASX: SGP) and Charter Hall (ASX: CHC). He also liked BHP (ASX: BHP) and Rio Tinto (ASX: RIO), which are benefitting from their exposure to the rising copper price, which has added 10% since the start of May. “Apart from resource stocks, there’s nothing to get excited about,” Dight said
ASX
ASX jumps 1.5% as jobs data eases rate hike fears
The Australian sharemarket rallied on Thursday as weaker-than-expected labour market data fuelled hopes the Reserve Bank of Australia (RBA) may not need to tighten monetary policy further, while easing geopolitical concerns also lifted sentiment. The S&P/ASX 200 Index climbed 125.1 points, or 1.5%, to close at 8,621.7, with eight of the 11 sectors finishing higher. Investor confidence improved after United States President Donald Trump said Washington was in the “final stages” of negotiations with Iran, helping drive oil prices sharply lower overnight and easing concerns about inflationary pressures linked to the Middle East conflict. The Materials sector led the market higher as heavyweight miners advanced; BHP gained 3.1%, Rio Tinto added 3.2%, and Fortescue rose 0.5%. Gold miners delivered a mixed performance despite spot gold rising 1.4% overnight. Northern Star Resources fell 2.1% after announcing managing director Stuart Tonkin would step down during the first quarter of the next financial year, following 13 years in the role. Evolution Mining climbed 3.8%, and Newmont gained 2.2%. James Hardie surged 5.4% as investors continued to assess the building products company’s full-year results released in the
ASX
US rebound to help Australian shares bounce back
The Australian Securities Exchange is set to regain its previous day’s losses when trading begins on Thursday after a stronger session on Wall Street overnight. The ASX 200 index should rise by 1.2% at the opening, according to the latest quotes for the June futures contract which was priced 104 points above the previous settlement at 8,633 points at the time of writing. Stock prices rose in the United States on Wednesday (Thursday AEST) amid positive sentiment about the technology sector and as Treasury bond yields and crude oil prices fell due to positive news about peace talks between the U.S. and Iran. The Dow Jones Industrial Average jumped 1.3%, the S&P 500 climbed 1.1% and the Nasdaq Composite surged 1.6% after President Donald Trump said that negotiations with Iran were “in the final stages”. Another driver was better sentiment about technology and chip stocks related to the artificial intelligence (AI) revolution, which rebounded from a three-day sell-off ahead of quarterly results from Nvidia. "Technology is driving the bus again today, and the AI theme. We've swapped back from yesterday's concerns about rising rates and potential inflation and are leaning more into the all-things-AI story," BMO ⁠Private
ASX
ASX slides 1.3% as miners drag market lower
Australian shares retreated on Wednesday, giving back the previous session’s gains as rising global bond yields and persistent inflation concerns weighed on investor sentiment. The S&P/ASX 200 Index fell 108.1 points, or 1.3%, to close at 8,496.6, with eight of the index’s 11 sectors ending lower. The decline followed weakness across Asia-Pacific markets after an overnight sell-off in U.S. Treasurys pushed global bond yields towards multi-decade highs. Elevated oil prices linked to ongoing Middle East tensions also fuelled concerns inflation could remain stubbornly high, increasing expectations for tighter monetary policy. The Materials sector led losses as higher bond yields and the prospect of further U.S. interest rate increases pressured gold prices and mining shares. Northern Star Resources fell 2.6%, Evolution Mining dropped 4.9%, and Newmont Corporation lost 4.5%. Major mining heavyweights also retreated, with BHP down 2.3%, Rio Tinto falling 1.5%, and Fortescue down 1.2%. Telecommunications stocks were heavily sold after renewed weakness in Tuas shares, which plunged 16.9% after Singapore’s Infocomm Media Development Authority suspended its review of the proposed Simba-M1 merger on Monday amid an inves

ASX
US bond yield rise to undermine ASX opening
Shares will hand back some of their previous day gains when trading resumes on the Australian Securities Exchange (ASX) on Wednesday as they follow the lead of United States stocks, which fell as inflation worries drove up bond yields. This is the outlook for the market opening at 10 am AEST (12 am GMT) based on trading in the June contract of the ASX 200 index, which was priced 36 points or 0.42% below the prior settlement at 8,603 points at the time of writing. The major indexes in New York ended down on Tuesday (Wednesday AEST) as the benchmark 30-year Treasury yield reached its highest level in almost two decades. The 10-year yield rose to its highest level in more than a year as elevated oil prices and the lack of progress with peace talks between the U.S. and Iran raised inflation worries. The Dow Jones Industrial Average fell 0.7%, the S&P 500 fell 0.7%, and the Nasdaq Composite shed 0.8%. "There's nothing constructive that's leading us to believe there's going to be a ceasefire with any sort of substance,” Rosenblatt Securities managing director and equity sales trader Michael James was quoted by Reuters as saying in this article. “As long as there is nothing happening along those fronts, oil is remainin
ASX
ASX jumps 1.2%; easing oil prices boost risk sentiment
The Australian sharemarket rebounded on Tuesday, recovering from seven-week lows touched in the previous session after U.S. President Donald Trump delayed planned military strikes on Iran, easing concerns over escalating tensions in the Middle East. The S&P/ASX 200 Index rose 99.4 points, or 1.2%, to close at 8,604.7, with nine of the 11 sectors finishing in positive territory. The Consumer Staples sector led the gains, supported by a 3.7% lift in Woolworths shares after JPMorgan upgraded the supermarket giant to an “overweight” recommendation. Coles added 2.7%, Endeavour Group gained 2.3% and Elders traded 2.2% higher. The Telecommunications sector also posted strong gains, driven by a sharp rebound in shares of TPG Telecom-backed mobile operator Tuas, which rebounded 17.6% after plunging 62.8% in the previous session. The recovery followed comments from Singapore’s regulator indicating the company’s local mobile phone brand may have breached regulatory requirements. Real estate investment trusts were broadly stronger, with Goodman Group up 1.8%, Charter Hall adding 2.2%, Mirvac up 0.9% and Vicinity Centres advancing 1.6%. The major banks also contributed to the market rebound, with Commonwealth Bank up 1.3%,
ASX
Australian shares set to bounce back
Investors can look forward to strong gains at the opening of the Australian sharemarket on Tuesday, with the benchmark index set to bounce off a seven-week low and rise more than 1% after a mixed performance on Wall Street overnight. This is the outlook based on trading in the futures market, where the June contract of the ASX 200 index was last priced 92 points over the prior settlement at 8,615 points. Assuming it is realised, such a start will help pare back some of the losses suffered on Monday when the ASX 200 closed 125.5 points or 1.5% lower at 8,505.3 points, which was its lowest finish since 1 April. U.S. crude oil prices rose more than 3% overnight amid choppy trading after United States President Donald Trump paused another planned attack on Iran to allow for peace talks. The Dow Jones Industrial Average gained 0.3%, but the S&P 500 slipped 0.1%, and the Nasdaq Composite dropped 0.5% on Monday (Tuesday AEST). "It seems like the one issue that's been moving markets on a day-to-day basis is oil prices,” NFJ Investment Group portfolio manager Burns McKinney was quoted saying in a Reuters article. He said the main variable was the blockade of oil transport channel, the Strait of Hormuz, which lifted oil pr
ASX
ASX hits 7wk low; Industrials lead declines; oil surges
Australian shares fell to a near seven-week low on Monday as elevated oil prices and a global bond selloff weighed on investor sentiment amid an ongoing stalemate in the Iran conflict. The S&P/ASX 200 Index closed 125.5 points, or 1.5%, lower at 8,505.3, marking its lowest finish since 1 April. Ten of the 11 sectors ended in negative territory. Brent crude rose 1.8% during Asian trading to US$111.23 per barrel as the U.S.-Iran conflict entered its 12th week, with both sides remaining deadlocked over reopening the Strait of Hormuz. Industrials led the decline, with Brambles plunging 20.2% after downgrading its fiscal 2026 earnings guidance. The pallet supplier now expects underlying profit growth of 3% to 5%, down from its previous forecast of 8% to 11%. Transurban and Reece each fell 0.8%, while Auckland International Airport declined 1.3%. Real estate investment trusts also came under pressure. Goodman Group fell 4%, Mirvac dropped 3.2%, while Stockland and Charter Hall each lost 3.5%. The Materials sector weighed heavily on the benchmark, with major miners BHP, Rio Tinto and Fortescue Metals down between 2.8% and 3.6%. Gold miners also weakened as bullion prices fell to multiweek lows amid persistent infl