Markets

Insights on global financial markets, including stocks, currencies, and more.

Markets
Markets: Green pastures as ASX 200 hits fresh 3mth high
The Australian sharemarket advanced to a fresh three-month high on Tuesday, supported by strength in technology and banking stocks, as easing trade tensions between the United States and the European Union bolstered investor sentiment. The S&P/ASX 200 rose 46.6 points or 0.56% to 8,407.6, with six of the 11 sectors finishing in positive territory, led by information technology. Wisetech Global gained 2.2% after analysts welcomed its acquisition of U.S. cloud-based supply chain software firm E2open, announced on Monday. Morningstar described the acquisition as “opportunistic", pointing to E2open’s slumping share price and WTC’s strategy to consolidate the freight-forwarding software sector and fend off rivals, while cautioning that it could be a “multidecade journey” given both firms’ history of integration challenges. The banking sector supported the broader market, with ANZ up 1.4%, Macquarie gaining 1.4%, Westpac rising 1.7%, and Commonwealth Bank up 0.8% to a fresh all-time closing high of $175.34. Copper stocks outperformed following reports of an offshore bid for Mac Copper, which is now in a trading halt. Capstone Copper gained 6.8%, leading gains on the index. Meanwhile, REA Group dropped 3.5% after rep
Markets
Markets: Gold slips below 2wk highs amid thin trade
Gold prices traded below two-week highs in Asian trade on Tuesday, buoyed by a softer United States dollar as markets in the U.S. and United Kingdom remained closed Monday for public holidays. By 3:40 pm AEST (5:40 am GMT) spot gold was down $17.21 or 0.5% at US$3,325.20 per ounce. The dollar index slipped 0.2% on Monday, nearing a one-month low against a basket of major currencies. The weaker greenback made dollar-denominated gold more affordable for investors using other currencies, supporting demand. The U.S. House of Representatives last week approved a version of President Donald Trump’s tax-cut bill that the Congressional Budget Office estimates would add about US$3.8 trillion to the federal debt - already standing at $36.2 trillion - over the next decade. Meanwhile, Trump stepped back from a threat to impose a 50% tariff on EU imports starting 1 June. The deadline has now been postponed to 9 July to allow time for further negotiations with the 27-member bloc. Minneapolis Federal Reserve President Neel Kashkari said Monday that “extended tariffs raise risk of stagflation”, highlighting the Fed’s growing concerns over inflationary pressures amidst slowing economic growth. In addition to fiscal and monetary c
Markets
Oil trades lower as OPEC+ meeting looms
Oil prices eased during Asian trading on Tuesday, as investors held off on major moves ahead of a key OPEC+ meeting that could shape the trajectory of global supply. Market activity remained subdued following public holidays in the United States and the United Kingdom on Monday. As of 3:05 AEST (5:05 am GMT), Brent crude futures had edged down $0.18, or 0.3%, to US$64.56 per barrel. West Texas Intermediate (WTI) crude slipped $0.25, or 0.4%, to US$61.28 per barrel. The Organisation of Petroleum Exporting Countries and allies, collectively known as OPEC+, are reportedly considering another production increase at their upcoming meeting, which could influence prices in the near term. One option under review includes a supply increase of 411,000 barrels per day starting in July, though no final decision has been reached. OPEC+ is currently in the process of gradually unwinding its output cuts, with phased additions to global markets in May and June. ANZ analysts noted: "Any data showing a continued lack of adherence to production quotas will strengthen the resolve of Saudi Arabia to punish those members who refuse to cut their output. "The meeting of the OPEC+ alliance, including the eight members who instigated a
Markets
APAC markets mixed amid tariff delay, China data
Asia-Pacific markets were mixed on Tuesday as investors digested United States President Donald Trump’s postponement of a proposed 50% tariff on European Union imports and parsed fresh data from China. By 12 pm AEST (2 am GMT), Australia’s S&P/ASX 200 inched up 0.1%, while South Korea’s Kospi 200 slipped 0.5%. Japan’s Nikkei 225 edged down 0.2%. Meanwhile, official data released Tuesday showed that Chinese industrial profits rose for a second consecutive month in April, defying the impact of U.S. trade pressures and ongoing deflationary concerns. For the first four months of 2025, industrial profits grew 1.4% year-on-year. U.S. futures traded higher early Tuesday, with Wall Street having remained closed on Monday for the Memorial Day holiday. In commodities, Brent crude retreated 1% to US$64.10 per barrel, while spot gold slipped 0.5% to US$3,342.48 an ounce. Chinese equities were largely subdued on Monday. The Shanghai Composite dipped 0.1% to 3,346.8, and the CSI 300 declined 0.6% to 3,860.1. Hong Kong’s Hang Seng Index underperformed, dropping 1.4% to 23,282.3 as BYD fell 6.8% after introducing sharp promotional discounts, pulling down peers Geely Auto, Li Auto, NIO, and Xpeng. India’s BSE Sensex bucked
Markets
ALS tests market with capital raising after profit slips
ALS Global has unveiled a A$350 million (US$228 million) capital raising after posting a small drop in in underlying net profit after tax (NPAT) for the 2025 financial year (FY25) due to adverse currency movements and higher interest costs. The testing and laboratory services business will raise funds from a placement with institutional and sophisticated investors to invest in its laboratory network and fund other growth initiatives including acquisitions. The placement at $16.70 per share is a discount to the closing share price of $17.64 on Monday, which was five cents (0.28%) lower than the previous close and which capitalised the company at $8.55 billion. ALS said it would raise up to $40 million by offering eligible shareholders the opportunity to buy up to $30,000 of shares at the lowest of the placement price and a 2.0% discount to the five-day volume weighted average price (VWAP) at the close of the offer period. The company said underlying NPAT fell 1.4% to $312.1 million in the 12 months ended 31 March due to a fluctuating exploration environment, unfavourable foreign exchange impacts and high interest costs linked to recent acquisitions. Underlying earnings before interest and taxes rose 4.7% to $515 mill

Markets
Markets: US futures climb on delayed EU tariff hike
United States stock futures traded higher on Monday evening (Tuesday AEST), buoyed by President Donald Trump’s decision to delay a proposed 50% tariff on European Union goods. The move, announced over the Memorial Day weekend, helped calm investor nerves after last week’s losses. As of 8:30 am AEST (10:30 pm GMT), futures for the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 were up 1.1%, 1.2%, and 1.3%, respectively, from Friday’s close. President Trump said he would extend the deadline for the new tariffs to 9 July. The levy was initially scheduled to take effect on 1 June, raising the import tax on EU goods to 50%. Economists continue to weigh the inflationary risks. ANZ analysts commented, “We estimate that an increase in the U.S. tariff on EU imports to 50% would add 0.2% to the core PCE over and above our earlier estimate that tariffs will boost the core PCE by 0.3–0.4% this year. "These estimates assume some offsets from lower exporter prices, a squeezed U.S. component of imported goods prices (marketing, distribution), weaker U.S. demand and some carve-outs.” Meanwhile, Federal Reserve Bank of Minneapolis President Neel Kashkari, a voting member of the FOMC, told Bloomberg Television that “there's
Markets
Europe sets scene for ASX with Wall Street closed
Australian investors had to look further back than usual for a guide on price setting on Tuesday as the United States and United Kingdom share markets were closed overnight. Europe provided the signals needed for the Australian Securities Exchange (ASX) with futures trading indicating the market benchmark is poised to rise on opening. At 8 am AEST (10 pm GMT on Monday), the S&P/ASX 200 June share price index contract was quoted 20 points above the previous settlement of 8,411 points. In Europe, the DAX index in Germany jumped by 1.7%, the CAC 40 in France gained 1.2% while the pan-European STOXX 600 index closed 1% higher on Monday. The London Stock Exchange was closed for the Spring Bank Holiday while the U.S. market was closed for Memorial Day. The ASX finished almost steady on Monday with the S&P/ASX 200 Index closing at 8,361 points amid continued investor caution about the outlook for United States tariffs on trading partners including the European Union (EU). President Donald Trump extended the deadline for tariffs on the 27-nation bloc to 9 July from June 1 after Commission President Ursula von der Leyen asked for more time to make a deal. ALS (ASX: ALQ) and Findi (ASX: FND) are expected to release earn
Markets
ASX 200 ends flat as uranium stocks power ahead
The Australian sharemarket closed virtually unchanged on Monday, as investor sentiment remained cautious despite United States President Donald Trump's decision to postpone a sweeping 50% tariff on European Union imports. The S&P/ASX 200 Index added just 0.1 points to close at 8,361, swinging between modest gains and losses throughout the session in a tight trading range. Six of the 11 major sectors finished in the green. Technology stocks led the gains, while utilities dragged on performance. Logistics software firm WiseTech Global jumped 4.7% after the company announced an A$3.25 billion deal to acquire U.S.-based e2open, a Texas-based supply chain management software provider. Other tech names such as TechnologyOne and Block added 0.3% and 0.7%, respectively. Uranium stocks saw a sharp rally for a second consecutive session after President Trump signed an executive order aimed at revitalising the U.S. nuclear energy industry. The move spurred fresh buying interest in Australian uranium producers. Boss Energy soared 7.3%, Deep Yellow jumped 13.7%, and Paladin Energy climbed 8.8%, significantly outperforming the broader market. Meanwhile, Utilities led the declines, with Origin Energy falling 4.9%. The energy
Markets
Gold slips from 2wk highs; safe-haven appeal holds firm
Gold prices eased from two-week highs during Monday's Asian trade as markets paused following a sharp rally, despite underlying bullish factors keeping the precious metal supported. By 3:50 pm AEST (5:50 am GMT) spot gold prices were down by $11.35 or 0.3% to US$3,347.86 per ounce. The retreat came amid light liquidity conditions due to global holidays, with buyers taking a breather ahead of key United States economic data later in the week. Despite the decline, gold's outlook remains bullish, buoyed by sustained weakness in the U.S. dollar and continued safe-haven demand. The dollar struggled to gain ground even after U.S. President Donald Trump extended a deadline for imposing tariffs on the European Union until 9 July, backing away from an earlier threat of a 50% levy starting 1 June. The U.S. Dollar Index (DXY) slipped about 0.3% on Monday to trade near 98.80, touching multi-week lows against a basket of major currencies. Over the weekend, Russian missiles and drones struck more than 30 cities and villages across Ukraine, killing at least 12 people. Meanwhile, on the diplomatic front, Iranian Foreign Minister Abbas Araghchi noted that nuclear talks with the U.S. remained “complicated” after the fifth round