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OPINION
ACTION

ANALYSIS

Market Analysis

29M.AX

5.36%

4DX.AX

-1.56%

ABG.AX

-1.56%

ASK.AX

-2.88%

AIS.AX

4.55%

AGL.AX

-0.36%

A1M.AX

-2.86%

AGI.AX

5.14%

AIZ.AX

-6.76%

AAI.AX

5.97%

ALK.AX

-0.32%

A4N.AX

-2.5%

ALQ.AX

0.85%

AMC.AX

1.59%

AOV.AX

0.63%

AMP.AX

-1.96%

ALD.AX

3.43%

ANN.AX

1.32%

ANZ.AX

1.94%

APA.AX

ARU.AX

1.82%

ARB.AX

-3.42%

ARF.AX

-2.23%

ARG.AX

-0.45%

ALL.AX

0.18%

AYA.AX

-0.43%

APZ.AX

3.1%

ASX.AX

-0.02%

ALX.AX

AUB.AX

AIA.AX

AMI.AX

1.59%

AZJ.AX

1.42%

ABB.AX

3.44%

ASB.AX

-2.01%

AAC.AX

-1.89%

AFI.AX

-0.15%

AUI.AX

-1%

BOQ.AX

-0.49%

BMN.AX

8.05%

BCI.AX

-1.39%

BPT.AX

-1.36%

BGA.AX

-0.74%

BGL.AX

-1.63%

BEN.AX

0.49%

BNZ.AX

3.82%

BHP.AX

2.43%

BKI.AX

-1.68%

BC8.AX

0.43%

XYZ.AX

-1.47%

BSL.AX

4.88%

BMC.AX

8.97%

BOE.AX

7.57%

BXB.AX

-0.79%

BVS.AX

-4.44%

BRE.AX

-2.51%

BRG.AX

-0.42%

BGP.AX

BFL.AX

0.24%

BWP.AX

0.81%

CMM.AX

-2.75%

CSC.AX

-0.13%

CAR.AX

-0.37%

CYL.AX

-2.36%

CAT.AX

-6.58%

CWP.AX

0.61%

CNI.AX

0.51%

CIP.AX

-1.03%

COF.AX

-1.12%

CHN.AX

3.77%

CGF.AX

0.89%

CIA.AX

CHI.AX

CHC.AX

0.35%

CLW.AX

-1.18%

CQR.AX

CQE.AX

-0.4%

CNU.AX

-0.76%

C79.AX

-0.5%

CVL.AX

1.44%

CU6.AX

-2.12%

CWY.AX

0.87%

CBO.AX

-0.75%

COH.AX

-1.7%

CDA.AX

-2.19%

COL.AX

1.07%

CKF.AX

-0.84%

CBA.AX

1.08%

CPU.AX

-0.26%

CEN.AX

-1.01%

CXO.AX

-4.76%

CCP.AX

1.39%

CMW.AX

-1.19%

CSL.AX

-0.35%

CCL.AX

0.21%

DBI.AX

-0.18%

DTL.AX

-2%

DTR.AX

DYL.AX

7.95%

DRR.AX

1.13%

DVP.AX

0.46%

DXS.AX

-1.11%

DXI.AX

-0.85%

DDR.AX

0.18%

DGT.AX

3.61%

DJW.AX

-0.71%

DMP.AX

-3.63%

DOW.AX

-0.64%

DPM.AX

0.09%

DRO.AX

-4.36%

DUR.AX

0.77%

DNL.AX

1.9%

APE.AX

1.9%

EBO.AX

-1.98%

EIQ.AX

-2.55%

ELD.AX

-0.93%

EOS.AX

-2.94%

ELV.AX

0.72%

ELS.AX

-5.16%

EHL.AX

-0.48%

EMR.AX

0.66%

EDV.AX

1.06%

ERA.AX

EQR.AX

11.63%

EUR.AX

-2.06%

EVN.AX

0.56%

EVT.AX

0.67%

FCL.AX

FFM.AX

-1.72%

FPH.AX

-1.01%

FPR.AX

-2.14%

FBU.AX

1.15%

FLT.AX

-0.9%

FML.AX

-3.88%

FRS.AX

-6.19%

FMG.AX

-1.84%

FRW.AX

2.9%

FGX.AX

0.38%

FGG.AX

1.48%

GLN.AX

-9.28%

GLF.AX

0.43%

GDG.AX

0.24%

GNE.AX

0.93%

GMD.AX

-0.84%

GNP.AX

-2.63%

GMG.AX

0.44%

GPT.AX

-0.43%

GQG.AX

-1.41%

GNG.AX

-0.66%

GNC.AX

1.63%

GGP.AX

-0.73%

GOZ.AX

-0.47%

GCI.AX

GYG.AX

-2.98%

GWA.AX

0.49%

HSN.AX

-2.11%

HVN.AX

-2.22%

HGH.AX

-0.95%

HM1.AX

-2.06%

HLI.AX

0.88%

HMC.AX

1.37%

HDN.AX

HUB.AX

-0.85%

IEL.AX

-4%

IGO.AX

0.21%

ILU.AX

1.89%

IMD.AX

-0.24%

IMR.AX

IFT.AX

-0.63%

INA.AX

5.35%

ING.AX

-3.64%

IAG.AX

0.27%

IDX.AX

-2.83%

IPG.AX

1.15%

IPX.AX

-1.5%

IPH.AX

0.26%

IRE.AX

-2.45%

JHX.AX

1.78%

JBH.AX

-3.04%

JDO.AX

-1.04%

JMS.AX

-3.7%

KAR.AX

1.77%

KLS.AX

1.18%

KCN.AX

-9.02%

KKC.AX

GLS.AX

1.68%

LGF.AX

4.64%

L1G.AX

-2.87%

LSF.AX

1.37%

LRV.AX

1.42%

LFS.AX

-0.54%

LLC.AX

-5.2%

LFG.AX

0.63%

360.AX

-2.17%

LIC.AX

0.2%

LNW.AX

-0.03%

LIN.AX

-6.7%

LTR.AX

-3.2%

LOV.AX

-6.98%

LYL.AX

-0.18%

LYC.AX

2.8%

MA1.AX

-0.25%

MAF.AX

-0.32%

MGH.AX

2.38%

MAH.AX

MQG.AX

0.52%

MAQ.AX

1.96%

MAD.AX

-0.12%

MFG.AX

-0.12%

MAU.AX

MMS.AX

0.32%

MPL.AX

-0.43%

MCY.AX

3.53%

MEZ.AX

-2.47%

MSB.AX

-1.46%

MLX.AX

-1.21%

MTS.AX

-2.33%

MEI.AX

2.78%

MOT.AX

-1.16%

MXT.AX

0.52%

MFF.AX

1.21%

MIN.AX

0.1%

MI6.AX

-1.16%

MIR.AX

0.81%

MGR.AX

-0.31%

MND.AX

0.59%

MYS.AX

-2.03%

NAN.AX

-1.25%

NAB.AX

0.59%

NGI.AX

1.63%

NWL.AX

-1.7%

NEU.AX

-1.24%

NHC.AX

3.07%

NEM.AX

-0.56%

NWS.AX

-0.91%

NXG.AX

9.37%

NXT.AX

4.07%

NHF.AX

-0.62%

NCK.AX

-0.14%

NIC.AX

-0.46%

NEC.AX

-1.07%

NST.AX

3.23%

NWH.AX

-1.06%

NUF.AX

0.35%

NXL.AX

-1.3%

OCL.AX

-4.6%

OML.AX

-8.15%

OPH.AX

-1.51%

OBM.AX

-1.09%

ORI.AX

1.27%

ORG.AX

0.19%

ORA.AX

0.4%

PDN.AX

11.48%

PNR.AX

1.67%

PPC.AX

-0.3%

PPM.AX

0.59%

PRN.AX

1.92%

PPT.AX

-0.83%

PCI.AX

PRU.AX

-0.96%

PXA.AX

PNI.AX

-0.13%

PL8.AX

-0.36%

PLS.AX

-1.83%

PGF.AX

PNV.AX

-2.71%

PDI.AX

-1.92%

PMV.AX

-0.55%

PME.AX

-0.28%

PWH.AX

0.77%

PYC.AX

-3.41%

QAN.AX

-0.54%

QBE.AX

0.14%

QAL.AX

QRI.AX

-0.64%

QUB.AX

-0.2%

RMS.AX

-1.2%

RHC.AX

0.44%

REA.AX

0.2%

RDX.AX

REH.AX

0.8%

RF1.AX

-1.11%

RPL.AX

-5.17%

RG1.AX

0.87%

RGN.AX

-1.33%

REG.AX

0.16%

RRL.AX

-0.16%

RWC.AX

0.63%

RMD.AX

-0.69%

RSG.AX

SGLLV.AX

3.83%

RIC.AX

0.71%

RIO.AX

1.62%

RXL.AX

3.45%

RFF.AX

-0.26%

RYM.AX

3.78%

SFR.AX

1.35%

SMI.AX

-0.85%

STO.AX

0.77%

SCG.AX

-1.09%

SEK.AX

-0.15%

SHV.AX

-1.85%

SRV.AX

2.22%

SSM.AX

SGH.AX

2.09%

SHA.AX

-4.48%

SIG.AX

0.7%

SLX.AX

7.67%

SGM.AX

4.57%

SDR.AX

-3.35%

SKS.AX

-6.09%

SIQ.AX

-0.69%

SHL.AX

0.43%

S32.AX

1.87%

SX2.AX

4.26%

SXE.AX

-1.89%

SPK.AX

-0.64%

SRG.AX

2.46%

SBM.AX

-1.64%

SMR.AX

3.25%

SDF.AX

-1%

SGP.AX

-1.85%

SNZ.AX

1.6%

SUN.AX

0.41%

SRL.AX

SUL.AX

-1.49%

SLC.AX

0.28%

SNL.AX

-0.93%

SYL.AX

-1.86%

TAH.AX

-1.84%

TEA.AX

1.99%

TNE.AX

0.52%

TLX.AX

-3.4%

TLS.AX

-0.78%

TPW.AX

-4.94%

A2M.AX

-2.37%

TLC.AX

-1.53%

SGR.AX

-1.01%

TVN.AX

1.72%

TWR.AX

5.06%

TPG.AX

-0.54%

TCL.AX

0.6%

TWE.AX

0.24%

TUA.AX

10.5%

TCG.AX

-0.99%

TRA.AX

VAU.AX

0.68%

VNT.AX

-0.95%

VCX.AX

VGN.AX

0.76%

VEA.AX

4.67%

VUL.AX

-5.42%

VSL.AX

-3.47%

VYS.AX

17.86%

WA1.AX

5.27%

WGN.AX

-3.78%

WAM.AX

-0.64%

WGB.AX

1.38%

WLE.AX

0.75%

SOL.AX

0.37%

WPR.AX

WQG.AX

1.31%

WEB.AX

-3.56%

WBT.AX

-0.56%

WES.AX

-0.15%

WAF.AX

-0.94%

WGX.AX

-0.19%

WBC.AX

0.73%

WHF.AX

-0.21%

WHC.AX

2.78%

WIA.AX

-4.08%

WC8.AX

-3.7%

WTN.AX

-3.08%

WTC.AX

-2.08%

WDS.AX

0.13%

WOW.AX

1.98%

WOR.AX

0.54%

XRO.AX

-3.54%

YAL.AX

2.48%

ZIM.AX

1.1%

ZIP.AX

0.41%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	147.40	1.12	0.77
SSO ASX Small Caps	16.05	0.01	0.06
IVV S&P 500	70.78	0.26	0.37
NDQ Nasdaq	63.06	0.48	0.77
F100 FTSE 100	14.80	0.04	0.27
ASIA Asia Tech	23.49	0.29	1.25
IEU Europe	100.61	0	0
IEM Emerging Markets	99.49	0.99	1.01
Gold Gold	57.06	-0.69	-1.19
ACDC Battery Tech	182.70	4.19	2.35

COMMODITIES	Close($)	-/+	%
Gold	4,441.29	-43.295	-0.97
Silver	73.38	-1.7344	-2.31
Platinum	1,878.18	-58.57	-3.02
Palladium	1,333.63	-36.1224	-2.64
Ice Brent Crude	98.37	2.37	2.47
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7139	-0.0039	-0.54
Euro	1.1605	-0.0026	-0.22
British Pound	1.3432	-0.0033	-0.25
Canadian Dollar	1.3889	0.005	0.36
New Zealand Dollar	0.5868	-0.0057	-0.96
Chinese Yuan	6.7692	0.007	0.1
Japanese Yen	159.9900	0.1	0.06

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.68	-2.86%	108.96%	0.30 0.75
BGL	Bellevue Gold Ltd	1.51	-1.63%	63.30%	0.78 2.00
BHP	Bhp Group Ltd	64.91	2.43%	67.73%	35.52 65.04
FMG	Fortescue Ltd	21.92	-1.84%	48.87%	14.31 23.38
NHC	New Hope Corporation Ltd	6.04	3.07%	58.81%	3.63 6.14
WHC	Whitehaven Coal Ltd	9.25	2.78%	63.93%	5.31 9.90
NEM	Newmont Cdi	151.44	-0.56%	0.00%	80.70 190.91
NXG	Nexgen Ene Cdi	17.16	9.37%	0.00%	9.60 20.47
SFR	Sandfire Resources Ltd	20.27	1.35%	75.13%	10.11 21.75

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
VYS	Vysarn	0.99	17.86
EQR	Eq Resources	0.24	11.63
PDN	Paladin Energy	11.85	11.48
TUA	Tuas	2.21	10.5
NXG	Nexgen Ene Cdi	17.16	9.37
BMC	Bmc Minerals Cdi	3.16	8.97
BMN	Bannerman Energy	3.76	8.05
DYL	Deep Yellow	1.63	7.95
SLX	Silex Systems	6.32	7.67
BOE	Boss Energy	1.35	7.57

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
GLN	Galan Lithium	0.44	-9.28
KCN	Kingsgate Consol	5.45	-9.02
OML	Ooh!media	1.24	-8.15
LOV	Lovisa Holdings	20.91	-6.98
AIZ	Air New Zealand	0.35	-6.76
LIN	Lindian Resource	0.84	-6.7
CAT	Catapult Sports	3.69	-6.58
FRS	Forrestania Res	0.53	-6.19
SKS	Sks Technologies	8.79	-6.09
VUL	Vulcan Energy	3.84	-5.42

OPINION

Latest Market Matters Opinions

03/06/2026 16:39

Broker Moves

• Apollo Minerals Rated New Speculative Buy at Euroz • Integral Diagnostics Reinstated Overweight at Morgan Stanley • Inghams Cut to Underperform at Macquarie; PT A$1.80 • Harvey Norman Cut to Neutral at Macquarie; PT A$4.50 • TPG Telecom Raised to Neutral at JPMorgan; PT A$3.70 • GrainCorp Raised to Hold at CLSA; PT A$4.60

03/06/2026 16:38

Megaport (ASX: MP1) $16.61

MP1 remained in a trading halt today after announcing a major capital raise to fund a significant push into AI infrastructure, securing four new AI contracts while launching an on-demand GPU offering aimed at enterprise customers. The deal consists of a fully underwritten entitlement offer at $14.30/share, a 13.9% discount to the last close.

ACTION

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Market Matters Content

Portfolio Positioning: Hedge Funds Are Circling the ASX with Northern Star (NST) in the Crosshairs

Morning report 03/06/2026

Afternoon Report

The Match Out: GDP miss fuels rate hold hopes, Megaport (MP1) takes a swing at AI

Afternoon report 03/06/2026

Ask James ASK A QUESTION

Ask James

Question asked 28/05/2026

BetaShares Nasdaq 100 ETF (ASX: NDQ) and SpaceX inclusion

Hi guys, It is my understanding that the Nasdaq in recent weeks made amendments to the rules for the Nasdaq 100 index to “fact track” SpaceX entry on to the index. How and when would an ETF like NDQ reflect such an inclusion? SpaceX free float is actually very low (I believe no more than 8%), but the market cap is large (money wise). Is there a risk of funds having to rotate from other sectors/stocks to cover the weight of SpaceX in the index? Lastly, I read your response about Pengana Private Equity Trust as a vehicle to gain exposure to the IPO. It appears to me that the recent share price appreciation is driven by SpaceX interest as the rest of the investments are a bit of a black box. It seems very speculative and prone to dilution post IPO, in my humble opinion. What do you think? Thanks for your responses. Angela What is MM advice regarding SpaceX IPO? Should we be attempting to join the chorus of interest in buying shares directly? Or maybe we can buy into a fund or ETF that contains SpaceX holding. Or just stay out of it! Sandy

Ask James

Question asked 28/05/2026

Catapult Sports Ltd (ASX: CAT)

Hi team, you are doing an excellent job in helping us navigate the stock market. I would like your thoughts on CAT. CAT announced FY26 results on 20/5; the stock was up 17% on that date, closing at $3.39, and reached a high of $3.885 on the next day (21/5). CAT was down 6.16% today (25/5), closing at $3.35. Do you know the reason for today’s big fall?

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Morning Report