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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

4DX.AX

10.63%

ABG.AX

1.09%

AIS.AX

1.41%

AGL.AX

-0.18%

A1M.AX

4.13%

AIZ.AX

2.17%

AAI.AX

-3.46%

ALK.AX

2.11%

A4N.AX

-0.45%

ALQ.AX

-0.82%

AMC.AX

-1.4%

AOV.AX

-1.07%

AMP.AX

2.97%

ALD.AX

1.65%

ANN.AX

0.06%

ANZ.AX

0.53%

APA.AX

-1.65%

ARU.AX

2.5%

ARB.AX

-1.74%

ARF.AX

-0.91%

ARG.AX

0.22%

ALL.AX

1.02%

AYA.AX

-1.77%

APZ.AX

1.21%

ASX.AX

0.52%

ALX.AX

0.2%

AUB.AX

-0.1%

AIA.AX

1.27%

AXQ.AX

-16.42%

AZJ.AX

0.7%

ABB.AX

ASB.AX

-0.59%

AAC.AX

1.49%

AEF.AX

-5.49%

AFI.AX

0.14%

AUI.AX

0.72%

BOQ.AX

0.16%

BMN.AX

3.46%

BCI.AX

0.63%

BPT.AX

1.43%

BGA.AX

1.31%

BGL.AX

BEN.AX

0.85%

BNZ.AX

1.7%

BHP.AX

0.22%

BKI.AX

0.55%

BC8.AX

2.34%

XYZ.AX

-0.21%

BSL.AX

1.51%

BOE.AX

3.7%

BXB.AX

-0.15%

BVS.AX

-2.11%

BRE.AX

BRG.AX

0.77%

BFL.AX

-0.12%

BWP.AX

-0.13%

CMM.AX

0.04%

CSC.AX

0.24%

CAR.AX

0.27%

CIN.AX

0.45%

CYL.AX

2.72%

CAT.AX

1.05%

CWP.AX

0.56%

CNI.AX

-2.52%

CIP.AX

0.33%

COF.AX

CGF.AX

-0.42%

CIA.AX

-1.01%

CHC.AX

-0.04%

CLW.AX

0.41%

CQR.AX

CQE.AX

-0.19%

CNU.AX

1.49%

C79.AX

-1.12%

CVL.AX

-0.58%

CU6.AX

0.86%

CWY.AX

CUV.AX

2.57%

CBO.AX

-1.52%

COH.AX

-0.57%

CDA.AX

0.17%

COL.AX

0.73%

CKF.AX

-0.5%

CBA.AX

0.29%

CPU.AX

0.33%

CEN.AX

3.22%

CXO.AX

5.21%

CCP.AX

0.34%

CMW.AX

-1.15%

CSL.AX

-0.32%

CCL.AX

-1.43%

DBI.AX

1.79%

DTL.AX

-0.32%

DTR.AX

9.62%

DYL.AX

7.72%

DRR.AX

0.71%

DVP.AX

0.9%

DXS.AX

0.26%

DXI.AX

-1.59%

DDR.AX

2.24%

DGT.AX

-0.38%

DJW.AX

-0.68%

DMP.AX

-2.04%

DOW.AX

-0.63%

DPM.AX

1.93%

DRO.AX

4.21%

DUR.AX

0.9%

DNL.AX

1.37%

APE.AX

-1.01%

EBO.AX

-0.53%

EIQ.AX

-5.83%

ELD.AX

0.72%

EOS.AX

-1.99%

ELV.AX

-0.36%

ELS.AX

3.15%

EHL.AX

1.53%

EMR.AX

0.8%

EDV.AX

-2.47%

EQR.AX

28.41%

EVN.AX

-0.95%

EVT.AX

1.13%

FDC.AX

-0.3%

FCL.AX

-1.32%

FFM.AX

0.6%

FPH.AX

-0.33%

FPR.AX

-1.38%

FBU.AX

-0.16%

FLT.AX

-3.53%

FRS.AX

-3.8%

FMG.AX

-0.37%

FRW.AX

FGX.AX

1.11%

FGG.AX

0.6%

GLF.AX

-0.9%

GDG.AX

-1.97%

GNE.AX

GMD.AX

1.35%

GNP.AX

0.88%

GMG.AX

-0.2%

GPT.AX

-0.3%

GQG.AX

-0.9%

GNG.AX

2.59%

GNC.AX

3.98%

GGP.AX

1.16%

GOZ.AX

0.23%

GCI.AX

-0.72%

GYG.AX

1.53%

GWA.AX

1.27%

HSN.AX

-0.12%

HVN.AX

1.05%

HGH.AX

-1.94%

HM1.AX

-0.34%

HLI.AX

1.35%

HMC.AX

1.38%

HDN.AX

0.79%

HUB.AX

2.1%

IEL.AX

-0.45%

IGO.AX

0.38%

ILU.AX

-1.15%

IMD.AX

0.14%

IMR.AX

1.38%

IFT.AX

-0.97%

INA.AX

-0.58%

ING.AX

0.69%

IAG.AX

1.08%

IDX.AX

-0.95%

IPX.AX

1.07%

IPH.AX

-0.12%

IRE.AX

-0.76%

JHX.AX

-1.6%

JBH.AX

-0.29%

JDO.AX

1.33%

JMS.AX

0.96%

KAR.AX

KLS.AX

KCN.AX

0.77%

KKC.AX

1.44%

GLS.AX

-0.49%

LGF.AX

-0.25%

L1G.AX

-2.7%

LSF.AX

-2.51%

LRV.AX

3.92%

LFS.AX

LLC.AX

0.34%

LFG.AX

-0.6%

360.AX

-1.09%

LIC.AX

-2.03%

LNW.AX

0.38%

LIN.AX

2.52%

LTR.AX

-0.94%

LOV.AX

-1.69%

LYL.AX

1.68%

LYC.AX

-0.06%

MA1.AX

MAF.AX

MGH.AX

-2.49%

MAH.AX

4.65%

MQG.AX

-0.51%

MAQ.AX

-0.19%

MAD.AX

-1.88%

MFG.AX

-0.21%

MMS.AX

0.93%

MPL.AX

0.29%

MP1.AX

-0.49%

MCY.AX

-2.42%

MEZ.AX

-0.74%

MSB.AX

0.2%

MLX.AX

3.1%

MTS.AX

1.53%

MOT.AX

-1.53%

MXT.AX

-0.64%

MFF.AX

0.39%

MIN.AX

-2.17%

MI6.AX

3.04%

MIR.AX

1.91%

MGR.AX

-0.43%

MND.AX

0.89%

MYS.AX

0.73%

NAN.AX

-1.27%

NAB.AX

0.13%

NGI.AX

0.42%

NWL.AX

-1.41%

NEU.AX

-0.65%

NHC.AX

3.54%

NEM.AX

-0.62%

NWS.AX

-0.2%

NXG.AX

1.19%

NXT.AX

0.69%

NHF.AX

1.03%

NCK.AX

-0.36%

NIC.AX

0.88%

NEC.AX

0.77%

NST.AX

-0.57%

NWH.AX

-0.15%

NUF.AX

-0.36%

OCL.AX

-1.82%

OML.AX

-1.59%

OPH.AX

OBM.AX

ORI.AX

0.22%

ORG.AX

0.47%

ORA.AX

1.05%

PDN.AX

0.77%

PNR.AX

5.74%

PPC.AX

-0.55%

PPM.AX

1.25%

PRN.AX

2.39%

PPT.AX

-0.05%

PCI.AX

0.46%

PRU.AX

-0.11%

PXA.AX

-3.8%

PNI.AX

-1.22%

PL8.AX

PLS.AX

-1.85%

PGF.AX

PNV.AX

PDI.AX

3.69%

PMV.AX

-0.07%

PME.AX

0.48%

PWH.AX

2.51%

PYC.AX

-0.78%

QAN.AX

-1.71%

QBE.AX

1.28%

QAL.AX

-1.22%

QRI.AX

RMS.AX

1.05%

RHC.AX

0.63%

REA.AX

1.12%

RDX.AX

0.95%

REH.AX

-1.44%

RF1.AX

-1.94%

RPL.AX

-1.97%

RG1.AX

0.4%

RGN.AX

-0.63%

REG.AX

1.15%

RRL.AX

0.89%

RWC.AX

-0.94%

RMD.AX

-1.62%

RSG.AX

2.79%

SGLLV.AX

1.1%

RIC.AX

-0.72%

RIO.AX

-1.02%

RXL.AX

-1.97%

RFF.AX

-1.58%

SFR.AX

1.19%

STO.AX

1.3%

SCG.AX

0.38%

SEK.AX

-0.21%

SHV.AX

0.26%

SRV.AX

-1.75%

SSM.AX

2.39%

SGH.AX

0.18%

SHA.AX

0.31%

SIG.AX

0.17%

SLX.AX

1.56%

SGM.AX

2.41%

SDR.AX

-4.48%

SKS.AX

-5.14%

SKC.AX

4.26%

SIQ.AX

1.08%

SHL.AX

-0.66%

S32.AX

3.85%

SX2.AX

0.68%

SXE.AX

2.07%

SPK.AX

2.12%

SRG.AX

1.57%

SBM.AX

3.66%

SMR.AX

2.6%

SDF.AX

SGP.AX

-0.84%

SKG.AX

-0.38%

SNZ.AX

-3.71%

SUN.AX

0.42%

SRL.AX

6.49%

SUL.AX

SLC.AX

0.16%

SNL.AX

-0.59%

SYL.AX

1.12%

TAH.AX

-0.86%

TEA.AX

4.02%

TNE.AX

-1.25%

TLX.AX

2.52%

TLS.AX

0.79%

TPW.AX

-1.84%

A2M.AX

2.59%

TLC.AX

-1.23%

SGR.AX

13.64%

TVN.AX

THL.AX

2.15%

TWR.AX

0.64%

TPG.AX

0.28%

TCL.AX

0.88%

TWE.AX

-0.11%

TUA.AX

-1.3%

TCG.AX

3.09%

UNI.AX

-0.67%

VAU.AX

2.27%

VNT.AX

2.77%

VCX.AX

0.95%

VGN.AX

-1.79%

VEA.AX

3.85%

VUL.AX

1.49%

VSL.AX

VYS.AX

3.78%

WA1.AX

0.76%

WGN.AX

-0.98%

WAM.AX

1.27%

WGB.AX

-0.91%

WLE.AX

0.73%

SOL.AX

-1.03%

WPR.AX

-0.41%

WQG.AX

0.75%

WEB.AX

-3.07%

WBT.AX

-4.79%

WES.AX

0.2%

WAF.AX

1.85%

WGX.AX

1.95%

WBC.AX

0.3%

WHF.AX

-0.62%

WHC.AX

2.89%

WIA.AX

2.47%

WC8.AX

1.32%

WTC.AX

-3.2%

WDS.AX

1.59%

WOW.AX

0.29%

WOR.AX

0.05%

XRO.AX

-1.48%

YAL.AX

6.34%

ZIM.AX

ZIP.AX

-2.35%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	147.07	0.44	0.3
SSO ASX Small Caps	14.15	0.03	0.21
IVV S&P 500	71.00	-0.13	-0.18
NDQ Nasdaq	59.68	0.24	0.4
F100 FTSE 100	15.17	0.06	0.4
ASIA Asia Tech	19.53	0.43	2.25
IEU Europe	97.71	0.46	0.47
IEM Emerging Markets	91.99	1.75	1.94
Gold Gold	52.57	0.31	0.59
ACDC Battery Tech	125.61	1.62	1.31

COMMODITIES	Close($)	-/+	%
Gold	4,014.81	-1.8836	-0.05
Silver	56.85	0.9472	1.69
Platinum	1,592.46	0.9325	0.06
Palladium	1,250.16	2.1425	0.17
Ice Brent Crude	88.26	4.03	4.78
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6993	0.0013	0.19
Euro	1.1442	0.0003	0.03
British Pound	1.3464	0.0011	0.08
Canadian Dollar	1.4006	-0.0014	-0.1
New Zealand Dollar	0.5854	0.0014	0.24
Chinese Yuan	6.7711	-0.0049	-0.07
Japanese Yen	162.3200	-0.04	-0.02

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.63	4.13%	89.06%	0.30 0.85
BGL	Bellevue Gold Ltd	1.20	0.42%	0.00%	0.78 2.00
BHP	Bhp Group Ltd	57.66	0.21%	47.12%	39.18 65.98
FMG	Fortescue Ltd	18.80	-0.37%	11.59%	16.94 23.38
NHC	New Hope Corporation Ltd	5.42	3.63%	27.56%	3.77 6.17
WHC	Whitehaven Coal Ltd	7.64	2.83%	20.81%	5.94 9.90
NEM	Newmont Cdi	129.12	-0.61%	0.00%	88.58 190.91
NXG	Nexgen Ene Cdi	12.71	1.19%	0.00%	9.98 20.47
SFR	Sandfire Resources Ltd	17.85	1.19%	61.98%	10.11 21.75

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
EQR	Eq Resources	0.28	28.41
SGR	The Star Enterta	0.13	13.64
4DX	4dmedical	3.54	10.63
DTR	Dateline Resourc	0.14	9.62
DYL	Deep Yellow	1.33	7.72
SRL	Sunrise Energy	15.43	6.49
YAL	Yancoal Australi	5.70	6.34
PNR	Pantoro Gold	2.03	5.74
CXO	Core Lithium	0.25	5.21
MAH	Macmahon Holding	0.90	4.65

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
AXQ	Aura Consolidate	3.92	-16.42
EIQ	Echoiq	1.41	-5.83
AEF	Australian Ethic	4.48	-5.49
SKS	Sks Technologies	7.93	-5.14
WBT	Weebit Nano	5.56	-4.79
SDR	Siteminder	3.31	-4.48
PXA	Pexa Group	7.60	-3.8
FRS	Forrestania Res	0.38	-3.8
SNZ	Summerset Group	6.74	-3.71
FLT	Flight Centre Tr	11.75	-3.53

OPINION

Latest Market Matters Opinions

20/07/2026 09:30

First Up

Equities have been volatile through 2025–26, unsettled by both the Liberation Day tariff shock and the US-Iran conflict, yet despite the relentless headlines, the ASX 200 has gained less than 1% since the start of 2025. However, on the stock and sector level in particular, volatility has been even more pronounced due to the combination of increased leverage and crowded positioning:

20/07/2026 09:29

Gold (US$/oz)

Gold ETF fund flows have been volatile over the past three years with investor demand surging in early 2025 as speculators started to piggy back central bank buying pushing gold to record highs, and driving record ETF inflows, attracting US$35B, more than during COVID. Gold surged above US$5,500 in January of this year as speculators bought the precious metal without thought to risk but 6-months later golds trading ~30% lower and plenty of speculator have undoubtedly been caught.

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Market Matters Content

Macro Monday: Faster rallies, harder falls – has the Market evolved?

Morning report 20/07/2026

Afternoon Report

The Match Out: Resources hit as ASX ends down for the week

Afternoon report 17/07/2026

Ask James ASK A QUESTION

Ask James

Question asked 17/07/2026

Current view on Worley (ASX: WOR), Whitehaven (ASX: WHC), Sandfire (ASX: SFR) and Mirvac (ASX: MGR)

Hi guys, would love to know your current view on a few positions in the growth portfolio - how you feel about how the buying thesis is playing out, your current levels of 'comfort' in these positions, I note they are all marked active, so would MM be buyers at these levels if you weren't in them already. Has anything changed? More conviction about some of theses? The positions are: WOR, WHC, SFR and MGR. Thanks so much for your analysis.

Ask James

Question asked 17/07/2026

Lithium and Junior’s

Hi M&M, Your Stock Broking Skills made me a good sum of cash on LTR, Thank you. I am wondering, is it a good time to accumulate lithium stocks? Is it a good time to buy some of the junior lithium stocks, on a short- or long-term basis, because the price of lithium has fallen. You spoke about Patriot Battery Metals Inc. (PMT) a while back stating, “If the Li price does turn the company could be on a majors shopping list”. PMT is actively developing its Corvette project in Quebec, one of the largest spodumene lithium deposits globally. If not this junior, what other juniors would you consider. Thank you.

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