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Opinion + Action

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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

29M.AX

4.41%

4DX.AX

ABG.AX

-0.56%

AIS.AX

-1.89%

AGL.AX

-0.7%

A1M.AX

0.59%

AIZ.AX

-1.54%

AAI.AX

3.06%

ALK.AX

-1.28%

A4N.AX

0.93%

ALQ.AX

-0.76%

AMC.AX

-0.57%

AOV.AX

0.16%

AMP.AX

0.43%

ALD.AX

-0.43%

ASL.AX

0.71%

ANN.AX

1.74%

ANZ.AX

0.74%

APA.AX

ARU.AX

ARB.AX

0.87%

ARF.AX

-1.28%

ARG.AX

0.87%

ALL.AX

0.72%

AYA.AX

-4.81%

APZ.AX

-0.77%

ASX.AX

0.36%

ALX.AX

-1.49%

AUB.AX

-0.64%

AIA.AX

AXQ.AX

0.63%

AMI.AX

6.9%

AZJ.AX

0.53%

AUC.AX

3.52%

ABB.AX

-1.58%

ASB.AX

-0.24%

AAC.AX

-1.11%

ACL.AX

-0.71%

AEF.AX

-1.68%

AFI.AX

0.58%

AUI.AX

0.52%

BOQ.AX

1.26%

BMN.AX

-1.91%

BCI.AX

1.05%

BPT.AX

-0.58%

BGA.AX

-0.33%

BGL.AX

-0.6%

BEN.AX

1.15%

BNZ.AX

1.2%

BHP.AX

1.36%

BKI.AX

0.27%

BC8.AX

0.44%

XYZ.AX

2.5%

BSL.AX

0.65%

BMC.AX

0.66%

BOE.AX

-4.62%

BXB.AX

1.02%

BVS.AX

3.31%

BRE.AX

2.91%

BRG.AX

-1.32%

BTR.AX

1.71%

BGP.AX

BFL.AX

0.13%

BWP.AX

-1.09%

CMM.AX

-0.69%

CSC.AX

0.98%

CAR.AX

-2.34%

CYL.AX

1.94%

CAT.AX

-2.38%

CWP.AX

-3.66%

CNI.AX

0.42%

CIP.AX

-1.38%

COF.AX

CHN.AX

-2.15%

CGF.AX

-2.19%

CIA.AX

1.42%

CHC.AX

-1.46%

CLW.AX

-0.57%

CQR.AX

-1.01%

CQE.AX

-2.07%

CNU.AX

0.27%

C79.AX

-1.14%

CVL.AX

-0.27%

CU6.AX

7.26%

CWY.AX

0.39%

CBO.AX

-14.85%

COH.AX

-1.2%

CDA.AX

-2.18%

CGS.AX

-2.5%

COL.AX

0.25%

CKF.AX

-0.49%

CBA.AX

1.48%

CPU.AX

0.61%

CEN.AX

-0.69%

CXO.AX

CCP.AX

0.43%

CMW.AX

-2.53%

CSL.AX

-0.9%

CCL.AX

-2.83%

DBI.AX

-3.63%

DTL.AX

1.64%

DYL.AX

-1.72%

DRR.AX

0.24%

DVP.AX

1.94%

DXS.AX

0.35%

DXI.AX

DDR.AX

20.66%

DGT.AX

1.54%

DJW.AX

DMP.AX

-1.03%

DOW.AX

-0.61%

DPM.AX

0.45%

DRO.AX

-2.51%

DUR.AX

-5.09%

DNL.AX

APE.AX

1.21%

EBO.AX

0.28%

EIQ.AX

-7.62%

ELD.AX

1.53%

EOS.AX

-8.72%

ELV.AX

-0.95%

ELS.AX

-3.53%

EHL.AX

2.65%

EMR.AX

0.85%

EDV.AX

1.63%

EOL.AX

-1.79%

EQR.AX

EQT.AX

-7.2%

EUR.AX

EVN.AX

-0.06%

EVT.AX

-1.37%

FDC.AX

2.11%

FCL.AX

-6.09%

FFM.AX

-0.26%

FPH.AX

-0.05%

FPR.AX

0.24%

FBU.AX

-0.62%

FLT.AX

-1.72%

FML.AX

1.88%

FRS.AX

-8.75%

FMG.AX

2.09%

FRW.AX

0.09%

FGX.AX

-0.37%

FGG.AX

-1.22%

GLF.AX

-2.89%

GDG.AX

-1.54%

GNE.AX

-4.02%

GMD.AX

2.63%

GNP.AX

-1.4%

GMG.AX

-0.36%

GPT.AX

0.43%

GQG.AX

-1.12%

GNG.AX

1.36%

GNC.AX

2.81%

GGP.AX

-3.06%

G6M.AX

6.32%

GOZ.AX

-0.96%

GCI.AX

-0.48%

GYG.AX

-4.21%

GWA.AX

-0.49%

HSN.AX

0.29%

HVN.AX

-1.78%

HGH.AX

1.93%

HM1.AX

2.61%

HLI.AX

-1.18%

HMC.AX

-1.18%

HDN.AX

-0.9%

HUB.AX

0.66%

IEL.AX

1.39%

IGO.AX

3.5%

ILU.AX

0.71%

IMD.AX

IMR.AX

2.07%

IFT.AX

-1.09%

INA.AX

-4.16%

ING.AX

1.95%

IAG.AX

IDX.AX

-3.43%

IPG.AX

-1.09%

IPX.AX

4.1%

IPH.AX

-2.37%

IRE.AX

-4.17%

JHX.AX

-0.77%

JBH.AX

1.61%

JDO.AX

JMS.AX

-1.89%

KAR.AX

2.95%

KLS.AX

-1.82%

KCN.AX

0.19%

KKC.AX

-0.46%

GLS.AX

1.92%

L1G.AX

-1.15%

LSF.AX

2.26%

LGF.AX

-1.24%

LRV.AX

-0.4%

LFS.AX

0.54%

LLC.AX

2.1%

LFG.AX

3.36%

360.AX

2.6%

LIC.AX

-6.39%

LNW.AX

1.98%

LIN.AX

1.97%

LTR.AX

4.37%

LOV.AX

-2.04%

LYL.AX

0.77%

LYC.AX

-0.85%

MA1.AX

1.55%

MAF.AX

MGH.AX

-1.27%

MAH.AX

-1.5%

MQG.AX

0.33%

MAQ.AX

-8.54%

MAD.AX

-3.61%

MFG.AX

-4.74%

MMS.AX

7.14%

MM8.AX

0.93%

MPL.AX

1.06%

MP1.AX

-1.17%

MCY.AX

0.35%

MEZ.AX

-0.68%

MSB.AX

2.07%

MLX.AX

-0.52%

MTS.AX

-0.34%

MEI.AX

MOT.AX

-0.31%

MXT.AX

0.79%

MFF.AX

1.12%

MIN.AX

0.14%

MI6.AX

0.56%

MIR.AX

0.78%

MGR.AX

-1.37%

MND.AX

-0.58%

MYS.AX

-4.07%

NAN.AX

2.25%

NAB.AX

0.82%

NGI.AX

-1.95%

NWL.AX

-0.23%

NEU.AX

-2.71%

NHC.AX

1.19%

NMG.AX

2.82%

NEM.AX

0.29%

NWS.AX

0.33%

NXG.AX

1.37%

NXT.AX

2.14%

NHF.AX

0.3%

NCK.AX

-0.2%

NIC.AX

1.18%

NEC.AX

-0.51%

NST.AX

1.81%

NWH.AX

-0.78%

NUF.AX

NXL.AX

2.45%

OCL.AX

6.92%

OML.AX

OPH.AX

-1.6%

OBM.AX

0.95%

ORI.AX

-0.41%

ORG.AX

ORA.AX

-1.35%

PDN.AX

-2.15%

PNR.AX

5.88%

PPC.AX

-1.79%

PPM.AX

-1.04%

PRN.AX

-0.43%

PPT.AX

-3.91%

PCI.AX

PRU.AX

PXA.AX

-17.43%

PNI.AX

-0.34%

PL8.AX

0.7%

PLS.AX

4.08%

PGF.AX

0.62%

PNV.AX

0.97%

PDIDB.AX

1.59%

PMV.AX

-0.51%

PME.AX

1.25%

PWH.AX

-0.76%

PYC.AX

-0.44%

QAN.AX

-0.83%

QBE.AX

QAL.AX

-2.4%

QRI.AX

-0.32%

RMS.AX

1.28%

RHC.AX

2.94%

REA.AX

2.33%

RDX.AX

-1.17%

REH.AX

-2.21%

RF1.AX

2.55%

RPL.AX

-8.74%

RG1.AX

RGN.AX

-0.45%

REG.AX

-0.81%

RRL.AX

1.29%

RWC.AX

-0.71%

RMD.AX

1.08%

RSG.AX

4.36%

SGLLV.AX

-1.99%

RIC.AX

0.39%

RIO.AX

-0.37%

RXL.AX

1.71%

RFF.AX

-0.26%

RYM.AX

1.72%

SFR.AX

0.3%

SMI.AX

-3.6%

STO.AX

0.74%

SCG.AX

-1.4%

SEK.AX

0.96%

SHV.AX

0.88%

SRV.AX

-0.65%

SSM.AX

-0.4%

SGH.AX

-0.1%

SHA.AX

-2.18%

SIG.AX

2.29%

SLX.AX

1.71%

SGM.AX

0.12%

SDR.AX

1.63%

SKS.AX

-1.84%

SKC.AX

-1.79%

SIQ.AX

-6.55%

SHL.AX

-0.3%

S32.AX

0.77%

SX2.AX

1.75%

SXE.AX

-4.44%

SPK.AX

0.28%

SRG.AX

-1.57%

SBM.AX

20.3%

SMR.AX

0.38%

SDF.AX

-0.17%

SGP.AX

-2.49%

SKG.AX

0.88%

SNZ.AX

-1.4%

SUN.AX

-2.18%

SRL.AX

-0.52%

SUL.AX

1.06%

SLC.AX

-2.73%

SNL.AX

-0.11%

SYL.AX

0.68%

TAH.AX

-4.17%

TEA.AX

0.82%

TNE.AX

3.48%

TLX.AX

0.45%

TLS.AX

0.66%

TPW.AX

3.9%

A2M.AX

0.15%

TLC.AX

0.2%

SGR.AX

-3.7%

TVN.AX

-6%

THL.AX

-2.98%

TWR.AX

TPG.AX

TCL.AX

0.65%

TWE.AX

-0.36%

TUA.AX

-5.5%

TCG.AX

0.64%

USL.AX

1.75%

UNI.AX

-2.52%

VAU.AX

2.21%

VNT.AX

0.74%

VCX.AX

VGN.AX

-1.42%

VMM.AX

-1.25%

VGL.AX

1.3%

VEA.AX

-0.35%

VUL.AX

5.04%

VSL.AX

5.05%

VYS.AX

1.85%

WA1.AX

-2.48%

WGN.AX

-2.05%

WAM.AX

-18.54%

WGB.AX

-2.29%

WLE.AX

-0.75%

SOL.AX

1.3%

WPR.AX

-2.88%

WQG.AX

0.71%

WEB.AX

-0.78%

WBT.AX

-3.6%

WES.AX

0.42%

WAF.AX

0.51%

WGX.AX

1.52%

WBC.AX

0.65%

WHF.AX

1.43%

WHC.AX

2.71%

WIA.AX

WC8.AX

1.28%

WTC.AX

2.68%

WDS.AX

0.84%

WOW.AX

0.25%

WOR.AX

1.19%

XRO.AX

4.78%

YAL.AX

1.67%

ZIM.AX

8.37%

ZIP.AX

-0.78%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	152.22	1.1	0.73
SSO ASX Small Caps	15.02	0.03	0.2
IVV S&P 500	71.42	0.03	0.04
NDQ Nasdaq	59.71	0.3	0.5
F100 FTSE 100	15.29	-0.09	-0.59
ASIA Asia Tech	20.23	0.18	0.9
IEU Europe	98.43	-0.82	-0.83
IEM Emerging Markets	94.61	0.11	0.12
Gold Gold	58.30	-0.27	-0.46
ACDC Battery Tech	128.17	1.07	0.84

COMMODITIES	Close($)	-/+	%
Gold	4,551.35	-49.6548	-1.08
Silver	68.76	-0.4961	-0.72
Platinum	1,854.88	8.4786	0.46
Palladium	1,420.00	69.4548	5.14
Ice Brent Crude	89.39	1.55	1.76
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7171	-0.0023	-0.32
Euro	1.1601	-0.0047	-0.4
British Pound	1.3536	-0.0056	-0.41
Canadian Dollar	1.3886	0.0032	0.23
New Zealand Dollar	0.5921	-0.0029	-0.49
Chinese Yuan	6.7246	0.0048	0.07
Japanese Yen	159.8700	0.48	0.3

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.86	0.59%	153.73%	0.32 0.89
BGL	Bellevue Gold Limited	1.66	-0.6%	0.00%	0.87 2.00
BHP	Bhp Group Ltd	67.30	1.36%	53.63%	39.30 68.77
FMG	Fortescue Ltd	18.07	2.09%	-7.14%	17.44 23.38
NHC	New Hope Corporation Ltd	5.95	1.19%	32.13%	3.77 6.17
WHC	Whitehaven Coal Limited	8.34	2.71%	19.41%	5.94 9.90
NEM	Newmont Cdi	182.80	0.29%	0.00%	113.49 190.91
NXG	Nexgen Ene Cdi	15.51	1.37%	0.00%	11.40 20.47
SFR	Sandfire Resources Limited	23.34	0.3%	82.94%	12.02 25.00

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
DDR	Dicker Data	15.30	20.66
SBM	St Barbara	0.80	20.3
ZIM	Zimplats Holding	16.97	8.37
CU6	Clarity Pharmace	2.51	7.26
MMS	Mcmillan Shakesp	20.87	7.14
OCL	Objective Corpor	6.80	6.92
AMI	Aurelia Metals	0.47	6.9
G6M	Group 6 Metals	3.70	6.32
PNR	Pantoro Gold	2.88	5.88
VSL	Vulcan Steel	5.62	5.05

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
WAM	Wam Capital	1.23	-18.54
PXA	Pexa Group	6.68	-17.43
CBO	Cobram Estate	2.81	-14.85
FRS	Forrestania Res	0.37	-8.75
RPL	Regal Partners	2.61	-8.74
EOS	Electro Optic Sy	10.05	-8.72
MAQ	Macquarie Techno	56.20	-8.54
EIQ	Echoiq	1.40	-7.62
EQT	Eqt Holdings	19.47	-7.2
SIQ	Smartgroup Corpo	10.56	-6.55

OPINION

Latest Market Matters Opinions

28/08/2026 17:05

Broker Moves

• Centuria Capital Raised to Neutral at Macquarie; PT A$1.28 • Bapcor Raised to Neutral at Goldman; PT 60 Australian cents • Mineral Resources Cut to Accumulate at Morgans Financial Limited • Greatland Resources Cut to Sell at Moelis & Company; PT A$11.40 • Wesfarmers Raised to Overweight at Jarden Securities; PT A$83.20 • Magellan Financial Cut to Hold at CLSA; PT A$9.55 • Wesfarmers Raised to Accumulate at CLSA; PT A$85.70 • SmartGroup Cut to Neutral at Macquarie; PT A$11.31 • Greatland Resources Cut to Neutral at Macquarie; PT A$13 • Capricorn Metals Cut to Neutral at Macquarie; PT A$17.70 • Objective Corp Cut to Neutral at Barrenjoey; PT A$8.50 • Magellan Financial Raised to Neutral at JPMorgan; PT A$9.80 • Bapcor Raised to Neutral at Citi; PT 69 Australian cents • Mineral Resources Cut to Neutral at Evans & Partners Pty Ltd • Sigma Healthcare Raised to Buy at Morgans Financial Limited • Ramsay Health Raised to Buy at Goldman; PT A$54.10 • SmartGroup Cut to Hold at Canaccord; PT A$10.90 • Ramsay Health Cut to Neutral at JPMorgan; PT A$50.70 • Clinuvel Cut to Speculative Hold at Bell Potter; PT A$11.50 • Sigma Healthcare Raised to Buy at Bell Potter; PT A$3 • EQT Holdings Cut to Hold at Canaccord; PT A$22.05 • Clinuvel Cut to Hold at Canaccord; PT A$9.52 • Emerald Resources Cut to Hold at Canaccord; PT A$6.90 • SmartGroup Cut to Hold at Bell Potter; PT A$11.80 • Atlas Arteria Raised to Buy at Jefferies; PT A$5.31 • South32 Cut to Hold at Morgans Financial Limited; PT A$4.90 • Capricorn Metals Cut to Hold at Bell Potter; PT A$18.05 • Boss Energy Cut to Hold at Argonaut Securities; PT A$1.60

28/08/2026 17:05

Harvey Norman (ASX: HVN): $4.42

HVN -1.78%: Produced a mixed FY26 result, with headline profit broadly in line but earnings ahead of expectations, showing better earnings resilience than the top line might suggest. The more important read is current trading, where a poor July across most markets has been followed by a decent rebound in Australia during August.

ACTION

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Market Matters Content

ETF Friday: Has NVIDIA just reignited tech ETFs?

Morning report 28/08/2026

Afternoon Report

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Ask James ASK A QUESTION

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Question asked 28/08/2026

Maas Group Holdings Ltd (ASX: MGH) Progress

Greetings MM Team I continue to enjoy and learn from your in-depth & forthright analysis to all things Market, incl our questions. It’s been nearly 6 months since MGH changed course & went all-in on AI build out. The AI picture has become even larger though the community pushback on dubious environmental claims and concerns over energy, water, land, services uses is getting louder. MGH seems to have hitched their wagon to Firmus. So where is this at? Good YE reports by both. Firmus plans get even bigger. I would appreciate your analysis of how MGH is going & would you consider it a contender for investment or even on a hitlist. Many thanks Glenn PS In the old days, getting a strong baseload energy like a data centre user would have been considered great news for the electricity system by underpinning growth and allowing much cheaper electricity for all. (e.g. aluminium smelter).

Ask James

Question asked 28/08/2026

Private equity “targets”.

Hi Feel free to correct me on this, but it seems that with all the current M & A activity on the ASX, the PE funds will make bids for most types of companies, but not mining companies. If a miner gets taken out, it's usually by another miner. Is there any particular reason why PE funds would steer clear of an acquisition in the mining space? Cheers, Carl

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Aus. Investment blog Subscribe to blog

Why is Ramsay Health Care (ASX: RHC) up ~14%

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ASX:RHC 20/08/2026

Why are gold stocks surging ~10%

The ASX 200 gold stocks surged higher today with an average gain of almost +9% as moves by the US Treasury ignited precious metals trade

ASX:GDX 20/08/2026

Morning Report

ETF Friday: Has NVIDIA just reignited tech ETFs?

Morning report 28/08/2026

Afternoon Report

The Match Out: Tech Roars Back as the ASX Shrugs Off Rate Jitters

Afternoon report 28/08/2026

Ask James ASK A QUESTION

Ask James

Question asked 28/08/2026

Maas Group Holdings Ltd (ASX: MGH) Progress

Ask James

Question asked 28/08/2026

Private equity “targets”.

Latest View Points

SIQ

NXT

HVN

PXA

WAM

ASIA

FANG

LNAS

NDQ

SEMI

NVDA US

RHC

Chart of the week

Westpac Banking Corp (WBC)

Aus. Investment blog Subscribe to blog

Why is Ramsay Health Care (ASX: RHC) up ~14%

Ramsay Health Care (RHC) is punching higher after delivering a strong FY26 result driven largely by cost management, particularly in the UK, with broad-based success across geographies.

ASX:RHC 20/08/2026

Why are gold stocks surging ~10%

The ASX 200 gold stocks surged higher today with an average gain of almost +9% as moves by the US Treasury ignited precious metals trade

ASX:GDX 20/08/2026

Opinion + Action