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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

29M.AX

4DX.AX

-2.68%

ABG.AX

-0.91%

AIS.AX

-2.97%

AGL.AX

-1.35%

A1M.AX

-1.12%

AIZ.AX

AAI.AX

-2.62%

ALK.AX

0.13%

A4N.AX

-1.64%

ALQ.AX

-3.32%

AMC.AX

-1.68%

AOV.AX

-2.74%

AMP.AX

-1.69%

AEL.AX

-1.39%

ALD.AX

-0.2%

ANN.AX

0.79%

ANZ.AX

0.69%

APA.AX

-0.23%

ARU.AX

ARB.AX

-2.7%

ARF.AX

-1.64%

ARG.AX

0.55%

ALL.AX

-2.83%

AYA.AX

-4.03%

APZ.AX

-2.83%

ASX.AX

-0.45%

ALX.AX

-2.13%

AUB.AX

-2.46%

AIA.AX

2.82%

AXQ.AX

-0.77%

AMI.AX

AZJ.AX

AUC.AX

0.77%

ABB.AX

-0.12%

ASB.AX

-2.64%

AAC.AX

ACL.AX

-1.77%

AFI.AX

AUI.AX

-0.25%

BOQ.AX

0.77%

BMN.AX

-3.13%

BAP.AX

-1.18%

BCI.AX

-2.34%

BPT.AX

-0.59%

BGA.AX

-0.49%

BGL.AX

-0.47%

BEN.AX

0.39%

BNZ.AX

-4.14%

BHP.AX

-0.62%

BKI.AX

BC8.AX

-1.73%

XYZ.AX

2.18%

BSL.AX

-0.98%

BMC.AX

1.74%

BOE.AX

-4.46%

BXB.AX

-0.99%

BVS.AX

-1.58%

BRE.AX

-3.24%

BRG.AX

-1.95%

BTR.AX

3.07%

BFL.AX

-1.27%

BWP.AX

-1.12%

CMM.AX

-0.07%

CSC.AX

-1.63%

CAR.AX

-3.46%

CIN.AX

CYL.AX

-0.68%

CAT.AX

-1.43%

CWP.AX

-1.07%

CNI.AX

-3.97%

CIP.AX

-0.9%

COF.AX

-0.88%

CGF.AX

-0.87%

CIA.AX

-2.04%

CHI.AX

14.07%

CHC.AX

-1.18%

CLW.AX

-1.5%

CQR.AX

-1.52%

CQE.AX

-2.97%

CNU.AX

0.74%

C79.AX

-2.15%

CVL.AX

-2.55%

CU6.AX

0.48%

CWY.AX

-1.7%

CBO.AX

-1.08%

COH.AX

0.22%

CDA.AX

CGS.AX

COL.AX

1.2%

CKF.AX

-1.81%

CBA.AX

0.28%

CPU.AX

-0.46%

CEN.AX

0.43%

CXO.AX

-3.52%

CCP.AX

-0.56%

CMW.AX

-0.71%

CSL.AX

-0.96%

CCL.AX

-1.15%

DBI.AX

-0.37%

DTL.AX

-2.12%

DYL.AX

-2.88%

DRR.AX

-3.48%

DVP.AX

0.19%

DXS.AX

-1.37%

DXI.AX

-1.72%

DDR.AX

-1.89%

DGT.AX

-2.04%

DJW.AX

0.34%

DMP.AX

-0.46%

DOW.AX

0.9%

DPM.AX

2.12%

DRO.AX

-1.08%

DUR.AX

1.28%

DNL.AX

-2.97%

APE.AX

-3.92%

EBO.AX

-0.26%

ELD.AX

-0.86%

EOS.AX

6.65%

ELV.AX

-2.94%

ELS.AX

-7.07%

EHL.AX

-0.83%

EMR.AX

-0.57%

EDV.AX

-0.67%

EQR.AX

-3.5%

EQT.AX

-2.99%

EUR.AX

8.44%

EVN.AX

-0.62%

EVT.AX

0.22%

FDC.AX

0.25%

FCL.AX

-1.64%

FFM.AX

-0.58%

FPH.AX

0.61%

FPR.AX

-0.43%

FBU.AX

-1.38%

FLT.AX

-1.26%

FML.AX

-1.54%

FRS.AX

-4.69%

FMG.AX

-1.13%

FRW.AX

FGX.AX

0.76%

FGG.AX

0.61%

GLF.AX

-1.78%

GDG.AX

-4.53%

GNE.AX

-1.46%

GMD.AX

1.92%

GNP.AX

-4.45%

GMG.AX

0.19%

GPT.AX

-0.9%

GQG.AX

-2.05%

GNG.AX

-0.13%

GNC.AX

-0.9%

GGP.AX

-1.28%

G6M.AX

12.03%

GOZ.AX

-0.51%

GCI.AX

-0.25%

GYG.AX

-0.33%

HSN.AX

-2.93%

HVN.AX

-0.24%

HGH.AX

-1.9%

HM1.AX

0.34%

HLI.AX

-1.2%

HMC.AX

-4.49%

HDN.AX

-2.08%

HUB.AX

-5.04%

IEL.AX

0.66%

IGO.AX

-1.34%

ILU.AX

-1.82%

IMD.AX

-1.04%

IMR.AX

-2.62%

IFT.AX

-1.07%

INA.AX

-0.89%

ING.AX

1.47%

IAG.AX

1.28%

IDX.AX

-2.22%

IPG.AX

-0.17%

IPX.AX

-1.95%

IPH.AX

-0.89%

IRE.AX

-1.86%

JHX.AX

-2.69%

JBH.AX

-2.46%

JDO.AX

-0.79%

KAR.AX

1.13%

KLS.AX

-2.74%

KCN.AX

-2.53%

KKC.AX

1.44%

GLS.AX

L1G.AX

-1.67%

LSF.AX

-1.05%

LGF.AX

-1.06%

LRV.AX

0.43%

LFS.AX

LLC.AX

-0.61%

LFG.AX

-3.31%

360.AX

0.31%

LIC.AX

-2.43%

LNW.AX

-1.19%

LIN.AX

-6.35%

LTR.AX

-3.08%

LOV.AX

-2.1%

LYL.AX

-0.17%

LYC.AX

0.07%

MA1.AX

0.38%

MAF.AX

-2.3%

MGH.AX

-1.44%

MAH.AX

-3.46%

MQG.AX

-1.22%

MAQ.AX

-4.05%

MAD.AX

-3.11%

MFG.AX

-2.75%

MMS.AX

-2.12%

MM8.AX

0.92%

MPL.AX

-0.44%

MP1.AX

-0.92%

MCY.AX

2.59%

MEZ.AX

2.79%

MSB.AX

-0.23%

MLX.AX

-2.76%

MTS.AX

0.35%

MEI.AX

-5.13%

MOT.AX

-0.16%

MXT.AX

-0.29%

MFF.AX

-0.55%

MIN.AX

-4.43%

MI6.AX

0.27%

MIR.AX

0.84%

MGR.AX

-1.86%

MND.AX

-2.64%

MYS.AX

-0.2%

NAN.AX

-2.34%

NAB.AX

0.31%

NGI.AX

-6.3%

NWL.AX

-7.02%

NEU.AX

-1.8%

NHC.AX

-2.65%

NMG.AX

2.67%

NEM.AX

-1.22%

NWS.AX

0.99%

NXG.AX

-3.17%

NXT.AX

-2.02%

NHF.AX

-0.62%

NCK.AX

-3.54%

NIC.AX

-1.22%

NEC.AX

-3.36%

NST.AX

-0.49%

NWH.AX

-2.32%

NUF.AX

-0.65%

NXL.AX

-1.07%

OCL.AX

-2.39%

OML.AX

0.3%

OPH.AX

-0.84%

OBM.AX

0.65%

ORI.AX

-1.92%

ORG.AX

-0.64%

ORA.AX

-1.77%

PDN.AX

-2.17%

PNR.AX

0.17%

PDI.AX

-3.11%

PPC.AX

0.3%

PPM.AX

-0.3%

PRN.AX

-1.35%

PPT.AX

-0.94%

PCI.AX

PRU.AX

0.45%

PXA.AX

-1.47%

PNI.AX

-4.36%

PL8.AX

0.71%

PLS.AX

-2.79%

PGF.AX

0.31%

PNV.AX

-1.54%

PMV.AX

-1.51%

PME.AX

-2.28%

PWH.AX

-0.78%

PYC.AX

-3.44%

QAN.AX

-0.83%

QBE.AX

0.09%

QAL.AX

-3.99%

QRI.AX

-0.99%

RMS.AX

-1.9%

RHC.AX

-0.05%

REA.AX

-2.57%

RDX.AX

-2.83%

REH.AX

-2.51%

RF1.AX

2.1%

RPL.AX

-0.88%

RG1.AX

RGN.AX

-0.68%

REG.AX

-2.58%

RRL.AX

-0.58%

RWC.AX

0.54%

RMD.AX

-0.5%

RSG.AX

0.83%

SGLLV.AX

-0.58%

RIC.AX

-1.35%

RIO.AX

-0.84%

RXL.AX

-0.4%

RFF.AX

-0.64%

RYM.AX

-1.89%

SFR.AX

-0.66%

SMI.AX

2.38%

STO.AX

0.35%

SCG.AX

-1.03%

SEK.AX

-2.95%

SHV.AX

-1.83%

SRV.AX

-1.74%

SSM.AX

-0.8%

SGH.AX

-2.55%

SHA.AX

0.98%

SIG.AX

-0.58%

SLX.AX

-1.01%

SGM.AX

-1.94%

SDR.AX

-2.06%

SKS.AX

-1.56%

SKC.AX

1.92%

SIQ.AX

-3.92%

SHL.AX

-0.32%

S32.AX

-0.2%

SX2.AX

-2.87%

SPK.AX

-0.95%

SRG.AX

-2.07%

SBM.AX

2.76%

SMR.AX

SDF.AX

0.17%

SXE.AX

-2.62%

SGP.AX

-1.71%

SKG.AX

-1.64%

SNZ.AX

-0.32%

SUN.AX

-0.64%

SRL.AX

-0.13%

SUL.AX

-1.12%

SLC.AX

-2.11%

SNL.AX

-1.55%

SYL.AX

-1.1%

TAH.AX

-0.27%

TEA.AX

-3.15%

TNE.AX

-1.21%

TLX.AX

2.16%

TLS.AX

-0.21%

A2M.AX

1.07%

TLC.AX

-1.33%

SGR.AX

-3.45%

THL.AX

1.78%

TWR.AX

TPG.AX

-1.05%

TCL.AX

-0.42%

TWE.AX

-0.65%

TUA.AX

-0.84%

TCG.AX

0.87%

TRA.AX

UNI.AX

-0.93%

VAU.AX

1.43%

VNT.AX

0.66%

VCX.AX

-0.66%

VGN.AX

-0.53%

VMM.AX

-2.72%

VGL.AX

VEA.AX

-0.63%

VUL.AX

-4.35%

VSL.AX

1.8%

WA1.AX

-0.39%

WGN.AX

-3.17%

WAM.AX

-1.27%

WGB.AX

WLE.AX

SOL.AX

-3.02%

WPR.AX

-0.46%

WQG.AX

1.43%

WEB.AX

-2.46%

WBT.AX

0.27%

WES.AX

-0.3%

WAF.AX

0.57%

WGX.AX

1.01%

WBC.AX

0.64%

WHF.AX

-0.85%

WHC.AX

-2.25%

WIA.AX

1.63%

WTC.AX

-2.25%

WDS.AX

0.41%

WOW.AX

0.55%

WOR.AX

-1.33%

XRO.AX

-3.46%

YAL.AX

-1.92%

ZIM.AX

-2.37%

ZIP.AX

-1.01%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	146.17	-0.71	-0.48
SSO ASX Small Caps	14.47	-0.27	-1.83
IVV S&P 500	73.15	0.43	0.59
NDQ Nasdaq	63.26	0.63	1.01
F100 FTSE 100	15.13	0.03	0.2
ASIA Asia Tech	21.42	0.01	0.05
IEU Europe	96.85	0.61	0.63
IEM Emerging Markets	96.99	0.18	0.19
Gold Gold	55.85	0.16	0.29
ACDC Battery Tech	119.52	-1.48	-1.22

COMMODITIES	Close($)	-/+	%
Gold	4,283.29	5.3072	0.12
Silver	63.93	0.0213	0.03
Platinum	1,755.90	7.3988	0.42
Palladium	1,254.79	-19.46	-1.53
Ice Brent Crude	106.77	3.69	3.58
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7011	0.0001	0.01
Euro	1.1369	-0.0008	-0.07
British Pound	1.3210	-0.0005	-0.04
Canadian Dollar	1.4147	0.0013	0.09
New Zealand Dollar	0.5651	-0.0008	-0.14
Chinese Yuan	6.7128	0.0017	0.03
Japanese Yen	158.4500	-0.38	-0.24

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.88	-1.68%	148.61%	0.38 0.94
BGL	Bellevue Gold Limited	1.58	-0.47%	0.00%	1.03 2.00
BHP	Bhp Group Ltd	60.65	-0.61%	51.64%	40.18 68.77
FMG	Fortescue Ltd	16.57	-1.07%	-12.44%	16.14 23.38
NHC	New Hope Corporation Ltd	5.68	-2.91%	49.23%	3.77 6.61
WHC	Whitehaven Coal Limited	7.37	-2.32%	13.90%	6.33 9.90
NEM	Newmont Cdi	172.28	-1.24%	0.00%	117.59 190.91
NXG	Nexgen Ene Cdi	13.15	-3.1%	0.00%	11.72 20.47
SFR	Sandfire Resources Limited	22.50	-0.53%	78.25%	13.33 25.00

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
CHI	Channel Infrastr	3.00	14.07
G6M	Group 6 Metals L	3.26	12.03
EUR	European Lithium	0.42	8.44
EOS	Electro Optic Sy	11.39	6.65
BTR	Brightstar Resou	0.59	3.07
AIA	Auckland Interna	6.93	2.82
MEZ	Meridian Energy	4.42	2.79
SBM	St.barbara	0.84	2.76
NMG	New Murchison Go	0.08	2.67
MCY	Mercury Nz	5.55	2.59

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
ELS	Elsight	4.80	-7.07
NWL	Netwealth Group	17.23	-7.02
LIN	Lindian Resource	0.59	-6.35
NGI	Navigator Global	2.23	-6.3
MEI	Meteoric Resourc	0.19	-5.13
HUB	Hub24	64.02	-5.04
FRS	Forrestania Res	0.31	-4.69
GDG	Generation Devel	2.74	-4.53
HMC	Hmc Capital	2.98	-4.49
BOE	Boss Energy	1.55	-4.46

OPINION

Latest Market Matters Opinions

25/09/2026 09:14

The Bottom Line

The 3 ETFs looked at today have some interesting nuances as we consider the best way to gain exposure to the ASX 200 if MM’s roadmap proves on point - note that while G200 and GMVW are relatively small ETFs, both are highly liquid given the deep liquidity of their underlying ASX 200 exposures. Importantly, we are looking for a short, sharp 10- 15% bounce in the ASX 200; hence, in theory, the greater the leverage, the better.

25/09/2026 09:14

VanEck Geared Australian Equal Weight ETF (ASX: GMVW) $38.01

The GMVW ETF provides leveraged exposure to a portfolio of large and liquid Australian companies, with stocks equally weighted rather than dominated by the largest banks and miners. It uses moderate gearing to magnify market gains and losses, while providing broader exposure across the ASX compared to a traditional market-cap-weighted index.

ACTION

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Market Matters Content

ETF Friday: Evaluating 3 leveraged ETFs for a potential Christmas rally by the ASX 200

Morning report 25/09/2026

Afternoon Report

The Match Out: ASX falls as September hike bets firm at 93%, Soul Patts hits record high

Afternoon report 24/09/2026

Ask James ASK A QUESTION

Ask James

Question asked 19/09/2026

Potential RBA rate hikes and any effects on Gryphon Capital (ASX: GCI)

Hi, Let’s assume that the RBA raise interest rates at least once more, possibly twice, by the end of the year. The Big 4 banks are also reporting a fall in mortgage applications and I assume that other lenders are finding the same thing. Given that GCI invest a significant amount of capital in RMBS, do you think these two factors will affect their investments and returns? Will there be enough issuances for them to invest in? Their recent wholesale capital raising ($86.25m) was fully subscribed and they will be offering a purchase plan for retail investors in the next few months, which would suggest they’re confident that they can still find offerings to invest in. Could they be forced to look at lower-grade debt to soak up the extra capital they’ve received? Cheers, Carl

Ask James

Question asked 19/09/2026

Suncorp (ASX: SUN) and CSL Ltd (ASX: CSL)

Hi James and Team Can I have your current view on SUN & CSL. What target price do you see for both in the next few months? Reports in late August 2026 indicated that Japanese insurer Tokio Marine views Suncorp Group as a potential takeover target. Is this still in play? Higher interest rates benefit insurers. Do you expect this will support the share price of all insurers? Also, on the 16/9 SUN lost over 3% (62c) -was there a particular reason for this? regards Debbie

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Latest View Points

GMVW

G200

GEAR

PMV

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