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Opinion + Action

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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

4DX.AX

-2.65%

ABG.AX

1.9%

AIS.AX

-6.98%

AGL.AX

2.47%

A1M.AX

-9.21%

AIZ.AX

-3.97%

AAI.AX

-6.57%

ALK.AX

-10.88%

A4N.AX

-8.33%

ALQ.AX

-3.24%

AMC.AX

2.95%

AOV.AX

1.44%

AMP.AX

-1.23%

AEL.AX

-1.04%

ALD.AX

-1.71%

ANN.AX

1.11%

ANZ.AX

0.88%

APA.AX

0.35%

ARU.AX

-3.33%

ARB.AX

0.06%

ARF.AX

1.55%

ARG.AX

-0.33%

ALL.AX

1.31%

APZ.AX

0.65%

ASX.AX

1.18%

ALX.AX

AIA.AX

AXQ.AX

-3.71%

AMI.AX

-7.41%

AZJ.AX

0.26%

AFI.AX

0.6%

AUC.AX

-5.62%

ABB.AX

1.2%

ASB.AX

-0.95%

AUB.AX

1.52%

AAC.AX

0.37%

ACL.AX

0.34%

AUI.AX

-0.34%

BMN.AX

-4.15%

BAP.AX

-6.82%

BCI.AX

-3.81%

BPT.AX

1.08%

BGA.AX

-0.63%

BGL.AX

-5.78%

BEN.AX

2.62%

BNZ.AX

-10.19%

BHP.AX

-3.64%

BOQ.AX

1.72%

BKI.AX

-0.85%

XYZ.AX

1.02%

BSL.AX

0.28%

BOE.AX

-6.23%

BXB.AX

1.98%

BVS.AX

-1.21%

BRG.AX

-1.01%

BFL.AX

1.71%

BWP.AX

CMM.AX

-7.88%

CSC.AX

-4.12%

CAR.AX

-0.64%

CIN.AX

-0.67%

CYL.AX

-9.18%

CAT.AX

-4.89%

CWP.AX

1.18%

CNI.AX

CIP.AX

0.72%

COF.AX

0.58%

CGF.AX

2.41%

CIA.AX

-4.74%

CLW.AX

1.21%

CHC.AX

2.61%

CQR.AX

1.42%

CQE.AX

2.11%

CNU.AX

1.69%

C79.AX

-5.22%

CVL.AX

-1.28%

CU6.AX

-6.27%

CWY.AX

-0.33%

CBO.AX

-0.38%

COH.AX

4.42%

CDA.AX

-2.35%

CGS.AX

-3.33%

COL.AX

0.16%

CKF.AX

1.59%

CPU.AX

-0.14%

CEN.AX

1.75%

CXO.AX

-7.14%

CTD.AX

-2.88%

CCP.AX

1.79%

CMW.AX

1.54%

CSL.AX

0.29%

CCL.AX

-1.02%

CBA.AX

4.35%

DYL.AX

-5.59%

DBI.AX

2.5%

DTL.AX

0.38%

DRR.AX

-1.03%

DVP.AX

-7.02%

DXI.AX

2.14%

DXS.AX

1.41%

DDR.AX

-0.67%

DGT.AX

-3%

DJW.AX

-0.67%

DMP.AX

-1.6%

DOW.AX

1.14%

DPM.AX

-2.9%

DRO.AX

-4.97%

DNL.AX

-1.79%

APE.AX

0.76%

EBO.AX

-2.39%

ELD.AX

-0.47%

EOS.AX

-7.03%

ELV.AX

-9.33%

ELS.AX

-5.05%

EHL.AX

0.78%

EMR.AX

-6.77%

EDV.AX

0.91%

EQR.AX

-1.85%

EQT.AX

-1.91%

EUR.AX

-4.05%

EVN.AX

-4.48%

EVT.AX

1.68%

FPH.AX

0.13%

FDC.AX

-1.73%

FCL.AX

4.61%

FFM.AX

-9.26%

FPR.AX

-0.39%

FBU.AX

-2.59%

FLT.AX

-1.49%

FRS.AX

-6.15%

FMG.AX

-2.06%

FGX.AX

-1.11%

FGG.AX

-0.93%

GLF.AX

-0.25%

GDG.AX

-4.06%

GNE.AX

GMD.AX

-7.78%

GNP.AX

-3.49%

GMG.AX

-3.62%

GPT.AX

1.5%

GQG.AX

-1.49%

GNG.AX

-7.41%

GNC.AX

0.77%

GGP.AX

-6.97%

G6M.AX

-5.97%

GOZ.AX

0.77%

GCI.AX

-0.5%

GYG.AX

-0.16%

GWA.AX

1.76%

HSN.AX

1.12%

HVN.AX

3.22%

HGH.AX

-6.79%

HM1.AX

0.36%

HLI.AX

1.13%

HMC.AX

-0.37%

HDN.AX

1.36%

HUB.AX

0.63%

IEL.AX

-1.78%

IGO.AX

-7.38%

ILU.AX

-4.43%

IMD.AX

-3.99%

IFT.AX

-0.6%

INA.AX

1.06%

ING.AX

0.93%

IAG.AX

0.34%

IDX.AX

-0.48%

IPG.AX

0.38%

IPX.AX

-5.08%

IPH.AX

0.82%

IRE.AX

0.18%

JHX.AX

1.87%

JBH.AX

2.19%

JDO.AX

-3.68%

KAR.AX

-2.91%

KLS.AX

0.5%

KCN.AX

-7.94%

KKC.AX

-0.49%

GLS.AX

0.82%

LGF.AX

-1.78%

L1G.AX

-2.29%

LSF.AX

0.23%

LFS.AX

-1.25%

LLC.AX

-0.41%

LFG.AX

0.32%

360.AX

1.83%

LNW.AX

2.8%

LIN.AX

-7.41%

LTR.AX

-7.25%

LOV.AX

2.05%

LYL.AX

-7.17%

LYC.AX

-5.89%

MAF.AX

0.9%

MGH.AX

-6.05%

MAH.AX

-4.93%

MQG.AX

-0.8%

MAQ.AX

-2.02%

MAD.AX

-1.45%

MFG.AX

-4.68%

MMS.AX

2.59%

MPL.AX

1.22%

MP1.AX

-6.16%

MCY.AX

-0.18%

MEZ.AX

MSB.AX

-3.01%

MLX.AX

-8.95%

MTS.AX

0.63%

MEI.AX

-2.33%

MXT.AX

MFF.AX

-0.96%

MIN.AX

-4.27%

MI6.AX

-10.2%

MIR.AX

1.75%

MGR.AX

-0.55%

MND.AX

-2.09%

MYS.AX

0.2%

NAN.AX

NAB.AX

3.25%

NGI.AX

-1.46%

NWL.AX

2.41%

NEU.AX

-1.16%

NHC.AX

2.52%

NMG.AX

-5.17%

NEM.AX

-4.93%

NWS.AX

1.83%

NXG.AX

-4.04%

NXT.AX

-2.43%

NHF.AX

-0.45%

NCK.AX

5.15%

NIC.AX

-2.99%

NEC.AX

2.26%

NST.AX

-2.54%

NWH.AX

-4.75%

NUF.AX

-0.33%

NXL.AX

-2.38%

OCL.AX

4.29%

OML.AX

OBM.AX

-16.54%

ORI.AX

-0.57%

ORG.AX

0.74%

ORA.AX

0.33%

PDN.AX

-5.23%

PNR.AX

-7.19%

PDI.AX

-7.81%

PPC.AX

2.43%

PPM.AX

2.11%

PRN.AX

-3.55%

PPT.AX

2.95%

PCI.AX

-0.47%

PRU.AX

-6.4%

PXA.AX

0.3%

PNI.AX

-0.62%

PL8.AX

-1.09%

PLS.AX

-8.07%

PGF.AX

-0.97%

PNV.AX

-1.68%

PMV.AX

4.19%

PME.AX

2.56%

PWH.AX

-2.24%

PYC.AX

-1.66%

QAN.AX

-0.36%

QBE.AX

0.45%

QRI.AX

-0.68%

QAL.AX

0.45%

RMS.AX

-6.23%

RHC.AX

-0.2%

REA.AX

-1.17%

RDX.AX

REH.AX

1.52%

RF1.AX

-1%

RG1.AX

-0.84%

RPL.AX

-1.24%

RGN.AX

1.35%

REG.AX

1.49%

RRL.AX

-5.17%

RWC.AX

0.46%

RMD.AX

3.16%

RSG.AX

-7.17%

SGLLV.AX

-2.88%

RIC.AX

RIO.AX

-2.68%

RXL.AX

-4.72%

RFF.AX

0.52%

RYM.AX

-1.01%

SFR.AX

-6.91%

STO.AX

-1.52%

SCG.AX

1.44%

SEK.AX

0.96%

SHV.AX

-0.5%

SRV.AX

SGH.AX

-0.7%

SHA.AX

-6.58%

SIG.AX

SLX.AX

-5.01%

SGM.AX

-4.46%

SDR.AX

-1.77%

SKS.AX

-3.58%

SKC.AX

0.91%

SIQ.AX

-0.57%

SHL.AX

-0.42%

S32.AX

-5.28%

SX2.AX

-9.48%

SPK.AX

0.65%

SRG.AX

-2.65%

SSM.AX

-2.67%

SBM.AX

-6.13%

SMR.AX

-0.78%

SDF.AX

SXE.AX

-4.22%

SGP.AX

1.43%

SKG.AX

-0.91%

SNZ.AX

-1.83%

SUN.AX

-0.15%

SRL.AX

-13.68%

SUL.AX

1.96%

SLC.AX

1.49%

SNL.AX

0.68%

SYL.AX

-3.07%

TAH.AX

-1.16%

TEA.AX

-5.12%

TNE.AX

1.61%

TLX.AX

-3.44%

TLS.AX

1.85%

TPW.AX

33.42%

A2M.AX

-0.86%

TLC.AX

1.12%

SGR.AX

-4%

TWR.AX

0.9%

TPG.AX

-0.52%

TCL.AX

1.14%

TWE.AX

-0.17%

TUA.AX

-1.62%

TCG.AX

-6.62%

UNI.AX

0.25%

VAU.AX

-7%

VNT.AX

-0.67%

VCX.AX

1.69%

VGN.AX

-0.84%

VMM.AX

-3.84%

VGL.AX

-0.92%

VEA.AX

-3.46%

VSL.AX

1.08%

WA1.AX

-8.18%

WGN.AX

-3.12%

WGB.AX

0.76%

WLE.AX

-0.79%

WAM.AX

SOL.AX

0.5%

WPR.AX

2.39%

WQG.AX

0.51%

WEB.AX

0.29%

WBT.AX

-6.69%

WES.AX

3.76%

WAF.AX

-5.92%

WGX.AX

-7.17%

WBC.AX

3.11%

WHF.AX

0.22%

WHC.AX

3.4%

WIA.AX

-14.13%

WTC.AX

-2.15%

WDS.AX

0.27%

WOW.AX

0.1%

WOR.AX

0.32%

XRO.AX

0.77%

YAL.AX

2.38%

ZIM.AX

7.77%

ZIP.AX

-29.47%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	146.76	0.01	0.01
SSO ASX Small Caps	13.22	-0.28	-2.07
IVV S&P 500	72.64	-0.39	-0.53
NDQ Nasdaq	60.10	-0.89	-1.46
F100 FTSE 100	15.35	0.03	0.2
ASIA Asia Tech	17.95	-0.21	-1.16
IEU Europe	94.96	-0.56	-0.59
IEM Emerging Markets	88.80	-0.86	-0.96
Gold Gold	52.30	-0.94	-1.77
ACDC Battery Tech	99.92	-2.65	-2.58

COMMODITIES	Close($)	-/+	%
Gold	3,995.52	-28.46	-0.71
Silver	53.89	-0.6301	-1.16
Platinum	1,550.83	-19.4238	-1.24
Palladium	1,044.09	-9.6444	-0.92
Ice Brent Crude	117.38	4.21	3.72
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7033	0.0014	0.2
Euro	1.1202	-0.0012	-0.11
British Pound	1.3372	-0.0027	-0.2
Canadian Dollar	1.4004	-0.0004	-0.03
New Zealand Dollar	0.5699	0.0017	0.3
Chinese Yuan	6.6702	-0.0043	-0.06
Japanese Yen	156.8200	0.06	0.04

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.69	-9.21%	51.65%	0.42 0.94
BGL	Bellevue Gold Limited	1.31	-5.78%	0.00%	1.06 2.00
BHP	Bhp Group Ltd	55.05	-3.64%	27.99%	40.18 68.77
FMG	Fortescue Ltd	14.27	-2.06%	-31.53%	14.13 23.38
NHC	New Hope Corporation Ltd	6.10	2.52%	56.01%	3.77 6.61
WHC	Whitehaven Coal Limited	7.91	3.4%	12.84%	6.66 9.90
NEM	Newmont Cdi	155.03	-4.93%	0.00%	117.59 190.91
NXG	Nexgen Ene Cdi	11.41	-4.04%	0.00%	11.34 20.47
SFR	Sandfire Resources Limited	18.45	-6.91%	19.65%	14.41 25.00

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
TPW	Temple & Webster	5.43	33.42
ZIM	Zimplats Holding	14.01	7.77
NCK	Nick Scali	12.65	5.15
FCL	Fineos Corporati	1.93	4.61
COH	Cochlear Limited	146.81	4.42
CBA	Cwlth Bank Fpo	164.00	4.35
OCL	Objective Corpor	6.57	4.29
PMV	Premier Investme	13.93	4.19
WES	Wesfarmers	80.29	3.76
WHC	Whitehaven Coal	7.91	3.4

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
ZIP	Zip Co	1.46	-29.47
OBM	Ora Banda Mining	1.11	-16.54
WIA	Wia Gold	0.40	-14.13
SRL	Sunrise Energy	12.68	-13.68
ALK	Alkane	1.48	-10.88
MI6	Minerals 260	0.66	-10.2
BNZ	Benz Mining-cdi	3.88	-10.19
SX2	Southern Cro Cdi	8.98	-9.48
ELV	Elevra Lth Fpo	3.40	-9.33
FFM	Firefly Metals L	1.23	-9.26

OPINION

Latest Market Matters Opinions

24/10/2026 09:31

First Up

The ASX 200 finished a volatile week, especially at the stock and sector level, with an 8% drop in the materials sector dragging down the broader market by just 0.1% despite almost 60% of the main boards closing higher. However, when we see heavyweight miners South32 (-11%), Sandfire (-10%), BHP Group (-8%), and RIO Tinto (-6%), it was always going to be tough for the index to advance.

23/10/2026 17:00

Broker Moves

• Orthocell Cut to Speculative Hold at Bell Potter • Westgold Raised to Buy at Ord Minnett; PT A$7.40 • Northern Star Raised to Neutral at Jarden Securities; PT A$24 • Netwealth Raised to Overweight at Jarden Securities; PT A$19.40 • Nickel Industries Raised to Buy at Jefferies • Karoon Energy Cut to Neutral at Macquarie; PT A$1.75 • Santos Cut to Sector Perform at RBC; PT A$9 • Nick Scali Cut to Underweight at JPMorgan; PT A$11.30 • Sky Metals Rated New Buy at Shaw and Partners

ACTION

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Market Matters Content

Fund Friday: Three portfolio themes that could have turned

Morning report 23/10/2026

Afternoon Report

The Match Out: Banks and retailers keep ASX afloat as miners slide

Afternoon report 23/10/2026

Ask James ASK A QUESTION

Ask James

Question asked 24/10/2026

Wesfarmers (ASX: WES) Update please

HI MM Team of very insightful market commentaries (and a very friendly team to engage with). Re Wesfarmers (ASX: WES) has been on your Hit List for a while I note the overall market analysis rating WES is a Sell to Strong Sell the stock appears to have great recovery drivers and keen buyers at lower levels i.e. around $72-75. I am interested given your recent portfolio buy of JBH as to what is your current view on WES and comparison to JBH? Thanks Steve K

Ask James

Question asked 24/10/2026

Are you buyers of GQG Partners (ASX: GQG)?

Hi James, Shawn and Team, GQG was trading 50% below it's issue price when it went ex-div today (Wed 21/10). My question is are you a buyer at this price? Thanks Jeremy

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Latest View Points

WHC

ZIP

BX US

SPOT US

WBC

ANZ

PME

XRO

ATEC

IGV US

RIO

WIRE

Chart of the week

Judo Capital Holdings Pty Ltd (JDO)

Aus. Investment blog Subscribe to blog

Why did ZIP Co Ltd (ASX: ZIP) crash 50% on the open?

ZIP was smacked 50% on the open today after revealing a US fraud incident that cost the buy-now-pay-later provider $7.2m and disrupted customer growth and transaction volumes during July and August

ASX: ZIP 22/10/2026

Why Fortescue (ASX: FMG) is down ~5%

Fortescue has fallen below $15 driven entirely by a weak Q1 FY2027 production report released last night that revealed a serious and escalating standoff with China's centralised iron ore buying agency.

ASX: FMG 22/10/2026

Morning Report

Fund Friday: Three portfolio themes that could have turned

Morning report 23/10/2026

Afternoon Report

The Match Out: Banks and retailers keep ASX afloat as miners slide

Afternoon report 23/10/2026

Ask James ASK A QUESTION

Ask James

Question asked 24/10/2026

Wesfarmers (ASX: WES) Update please

Ask James

Question asked 24/10/2026

Are you buyers of GQG Partners (ASX: GQG)?

Hi James, Shawn and Team, GQG was trading 50% below it's issue price when it went ex-div today (Wed 21/10). My question is are you a buyer at this price? Thanks Jeremy

Latest View Points

WHC

ZIP

BX US

SPOT US

WBC

ANZ

PME

XRO

ATEC

IGV US

RIO

WIRE

Chart of the week

Judo Capital Holdings Pty Ltd (JDO)

Aus. Investment blog Subscribe to blog

Why did ZIP Co Ltd (ASX: ZIP) crash 50% on the open?

ZIP was smacked 50% on the open today after revealing a US fraud incident that cost the buy-now-pay-later provider $7.2m and disrupted customer growth and transaction volumes during July and August

ASX: ZIP 22/10/2026

Why Fortescue (ASX: FMG) is down ~5%

ASX: FMG 22/10/2026

Opinion + Action