
ASX ticks lower; miners rise, Industrials and Tech slip

The Australian share market ended the session little changed on Monday as investors monitored global trade updates following United States President Donald Trump’s weekend announcement of a 30% tariff on goods from the European Union and Mexico, effective 1 August. The S&P/ASX 200 Index lost 9.7 points or 0.1% to 8,570.4, with seven of the 11 sectors finishing in the red. Industrials fell after Computershare dropped 3%. The decline followed a Morgan Stanley downgrade to “underweight” and a price target of $33.70, implying nearly 18% downside. Reece fell 2% and Brambles lost 0.4%. Consumer Discretionary also retreated, with Tabcorp down 1.9%, Aristocrat Leisure falling 1%, and Wesfarmers down 0.3%. Meanwhile, investor rotation into mining giants accelerated as iron ore prices edged closer to the key US$100 per tonne level. BHP rose 0.9%, Rio Tinto gained 0.6%, while Fortescue Metals lost 0.5%. Gold miners were among the strongest performers, buoyed by safe-haven flows as investors reacted to Trump’s fresh tariff threat. Gold bullion traded near US$3,370 an ounce, having risen 0.6% last week. Northern Star and Newmont added 1.7% apiece, Evolution Mining lifted 1.9%, and St Barbara gained 1.8%. The energy s