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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

KKC.AX

1.32%

ABG.AX

1.69%

ASK.AX

-0.32%

AX1.AX

ADT.AX

0.19%

AGL.AX

-1%

AIZ.AX

AAI.AX

1.94%

A4N.AX

ALQ.AX

-0.18%

AMA.AX

14.13%

AMC.AX

0.71%

AOV.AX

2.91%

AMP.AX

2.07%

AEL.AX

2.5%

ALD.AX

-2.05%

ANN.AX

0.57%

ANZ.AX

1.38%

APA.AX

-1.73%

ARB.AX

2.74%

ARF.AX

-0.77%

ARG.AX

0.45%

ALL.AX

0.69%

APZ.AX

1.82%

ASX.AX

0.82%

ALX.AX

-2.98%

AUB.AX

-0.26%

AIA.AX

-2.34%

AD8.AX

-1.57%

AZJ.AX

-0.66%

ABB.AX

-0.25%

ASB.AX

-3.05%

AAC.AX

0.72%

ACL.AX

3.04%

AEF.AX

-2.44%

AFG.AX

0.91%

AFI.AX

1.37%

AUI.AX

1.38%

BOQ.AX

0.51%

BMN.AX

BAP.AX

BCI.AX

7.81%

BPT.AX

-2.92%

BLX.AX

-1.41%

BGA.AX

0.92%

BGL.AX

0.57%

BEN.AX

1.68%

BHP.AX

2.36%

BKI.AX

0.29%

BC8.AX

-1.23%

XYZ.AX

0.28%

BSL.AX

0.99%

BOE.AX

0.92%

BOT.AX

BXB.AX

0.77%

BVS.AX

4.95%

BRG.AX

2.16%

BKW.AX

0.95%

BGP.AX

0.18%

BFL.AX

2.34%

BWP.AX

-1.37%

CMM.AX

1.86%

CSC.AX

3.38%

CAR.AX

1.02%

CIN.AX

1.12%

CYL.AX

-4.24%

CAT.AX

2.67%

CWP.AX

1.88%

CNI.AX

0.29%

CIP.AX

0.31%

COF.AX

-0.43%

CHN.AX

3.24%

CGF.AX

1.4%

CIA.AX

3.54%

CHC.AX

-0.46%

CLW.AX

-0.71%

CNU.AX

-0.88%

CQR.AX

0.5%

C79.AX

-2.83%

CQE.AX

CVL.AX

-0.96%

CU6.AX

5.97%

CWY.AX

-0.73%

CUV.AX

6.14%

CBO.AX

0.48%

COH.AX

0.45%

CDA.AX

0.2%

COL.AX

-0.33%

CKF.AX

17.36%

CBA.AX

2.05%

CPU.AX

1.07%

CEN.AX

2.22%

CTD.AX

4.8%

CCP.AX

2.63%

CMW.AX

1.45%

CSL.AX

0.18%

CCL.AX

2.41%

DBI.AX

3.03%

DTL.AX

1.1%

DYL.AX

-0.89%

DRR.AX

1.39%

DVP.AX

DXS.AX

0.58%

DXI.AX

-0.36%

DDR.AX

0.76%

DGT.AX

-0.83%

DUI.AX

1.31%

DJW.AX

0.33%

DHG.AX

0.23%

DMP.AX

2.08%

DOW.AX

4.47%

DRO.AX

-2.46%

DNL.AX

0.38%

APE.AX

1.54%

EBO.AX

0.79%

ELD.AX

0.8%

EMR.AX

-1.52%

EDV.AX

0.25%

ERA.AX

-33.33%

EQT.AX

-0.27%

EVN.AX

0.79%

EVT.AX

0.25%

FCL.AX

-0.44%

FFM.AX

-0.97%

FPH.AX

-1.47%

FPR.AX

0.68%

FBU.AX

-3.16%

FLT.AX

3.3%

FMG.AX

4.75%

FGX.AX

2.08%

FGG.AX

1.06%

GEM.AX

1.3%

GDG.AX

2.27%

GNE.AX

-0.95%

GMD.AX

2.03%

GTK.AX

-1.24%

GNP.AX

5.83%

GOR.AX

-0.6%

GMG.AX

0.35%

GPT.AX

GQG.AX

6.94%

GNG.AX

-0.91%

GNC.AX

0.77%

GGP.AX

10.61%

GOZ.AX

-0.8%

GCI.AX

0.5%

GYG.AX

0.91%

GWA.AX

-0.89%

HSN.AX

-1.42%

HVN.AX

0.19%

HLS.AX

4.11%

HGH.AX

-3.33%

HM1.AX

0.33%

HLI.AX

0.37%

HMC.AX

6.94%

HDN.AX

-0.76%

HUB.AX

4.52%

IEL.AX

2.56%

IGO.AX

4.39%

ILU.AX

2.05%

IMD.AX

1.11%

IFT.AX

-1.75%

INA.AX

ING.AX

1.12%

IFL.AX

1.14%

IAG.AX

0.33%

IDX.AX

0.44%

IPX.AX

1.4%

IPH.AX

-0.45%

IRE.AX

0.37%

JHX.AX

2.82%

JBH.AX

0.74%

JLG.AX

2.84%

JDO.AX

2.01%

JIN.AX

0.31%

KAR.AX

-6.46%

KLS.AX

1.36%

KCN.AX

LSF.AX

1.06%

LFS.AX

-0.44%

LLC.AX

0.55%

LFG.AX

10.84%

360.AX

-0.47%

LIC.AX

-0.44%

LNW.AX

0.16%

LTR.AX

5.34%

LOV.AX

0.43%

LYC.AX

0.55%

MAF.AX

4.26%

MGH.AX

0.25%

MAC.AX

0.22%

MAH.AX

-4.84%

MQG.AX

2.42%

MAQ.AX

1.85%

MAD.AX

3.67%

MFG.AX

5.07%

MMS.AX

0.33%

MPL.AX

1.01%

MP1.AX

0.45%

MCY.AX

-1.6%

MEZ.AX

MSB.AX

0.64%

MTS.AX

3.16%

MOT.AX

0.25%

MXT.AX

0.75%

MFF.AX

1.4%

MIN.AX

4.79%

MIR.AX

1.55%

MGR.AX

0.45%

MND.AX

1.51%

MYR.AX

0.83%

MYS.AX

1.18%

NAN.AX

1.47%

NAB.AX

2.24%

NSR.AX

-0.84%

NGI.AX

5.14%

NWL.AX

3.67%

NEU.AX

2.28%

NHC.AX

-1.03%

NEM.AX

-0.44%

NWS.AX

1.04%

NXG.AX

-1.34%

NXT.AX

2.99%

NHF.AX

0.78%

NCK.AX

-0.38%

NIC.AX

2.88%

NEC.AX

-0.63%

NST.AX

-0.4%

NWH.AX

3.5%

NUF.AX

2.12%

NXL.AX

4.27%

OCL.AX

2.29%

OML.AX

0.59%

OPH.AX

OBM.AX

1.75%

ORI.AX

0.69%

ORG.AX

-2.46%

ORA.AX

1.4%

PDN.AX

0.94%

PNR.AX

-0.32%

PGC.AX

-3.66%

PPC.AX

3.05%

PPM.AX

-0.59%

PRN.AX

2.83%

PCI.AX

-0.43%

PPT.AX

1.93%

PRU.AX

-0.29%

PXA.AX

0.6%

PLS.AX

6.64%

PNI.AX

5.1%

PL8.AX

2.54%

PGF.AX

0.41%

PNV.AX

1.69%

PDI.AX

-1.3%

PMV.AX

1.1%

PME.AX

2.58%

PFP.AX

-0.9%

PWH.AX

1.3%

PYC.AX

3.33%

QAN.AX

2.38%

QBE.AX

-0.6%

QOR.AX

3.26%

QRI.AX

QAL.AX

1.65%

QUB.AX

0.47%

RMS.AX

-0.39%

RHC.AX

-0.61%

REA.AX

0.42%

RDX.AX

2.96%

REH.AX

1.75%

RF1.AX

0.73%

RPL.AX

0.5%

RGN.AX

-1.7%

REG.AX

2.24%

RRL.AX

RWC.AX

1.2%

RMD.AX

-0.48%

RSG.AX

SGLLV.AX

0.83%

RIC.AX

3.2%

RIO.AX

3.05%

RUL.AX

1.37%

RFF.AX

-1.1%

SFR.AX

1.54%

STO.AX

-1.54%

SCG.AX

SEK.AX

0.76%

SHV.AX

2.19%

SRV.AX

1.81%

SSM.AX

2.08%

SGH.AX

0.17%

SIG.AX

0.32%

SLX.AX

8.8%

SGM.AX

1.33%

SDR.AX

-0.45%

SKC.AX

0.58%

SIQ.AX

0.69%

SHL.AX

0.96%

S32.AX

2.46%

SX2.AX

0.26%

SPK.AX

0.47%

SPR.AX

SRG.AX

1.28%

SMR.AX

1.59%

SDF.AX

0.34%

SGP.AX

0.54%

SNZ.AX

0.98%

SUN.AX

0.51%

SUL.AX

0.21%

SLC.AX

0.68%

SNL.AX

-0.03%

TAH.AX

4.26%

TEA.AX

3.37%

TNE.AX

0.32%

TLX.AX

-0.37%

TLS.AX

-0.41%

TPW.AX

1.15%

A2M.AX

-1.51%

TLC.AX

-1.14%

TPG.AX

-0.92%

TCL.AX

-1.11%

TWE.AX

-0.87%

TUA.AX

-0.68%

URW.AX

-0.28%

UNI.AX

-1.22%

VAU.AX

-2.44%

VNT.AX

VCX.AX

-0.8%

VGN.AX

11.38%

VGL.AX

1.93%

VEA.AX

-3.24%

VUL.AX

4.01%

VSL.AX

4.74%

WA1.AX

5.03%

WAM.AX

0.65%

WGB.AX

1.65%

WLE.AX

0.42%

SOL.AX

1.05%

WPR.AX

0.39%

WEB.AX

2.95%

WES.AX

0.56%

WAF.AX

WGX.AX

0.68%

WBC.AX

2.6%

WHF.AX

0.36%

WHC.AX

WTC.AX

2.45%

WDS.AX

-6.54%

WOW.AX

0.48%

WOR.AX

-2.39%

XRO.AX

0.39%

YAL.AX

-0.51%

ZIM.AX

3.2%

ZIP.AX

5.42%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	143.58	1.48	1.04
SSO ASX Small Caps	14.85	0.11	0.75
IVV S&P 500	62.38	0.43	0.69
NDQ Nasdaq	50.57	0.52	1.04
F100 FTSE 100	14.08	0.05	0.36
ASIA Asia Tech	11.64	0.23	2.02
IEU Europe	97.26	0.97	1.01
IEM Emerging Markets	74.05	0.87	1.19
Gold Gold	47.09	-0.99	-2.06
ACDC Battery Tech	86.99	1.43	1.67

COMMODITIES	Close($)	-/+	%
Gold	3,320.87	-47.6373	-1.41
Silver	35.99	-0.1404	-0.39
Platinum	1,284.97	-9.7126	-0.75
Palladium	1,061.23	-15.6618	-1.45
Ice Brent Crude	70.65	-6.36	-8.26
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6508	0.0049	0.76
Euro	1.1601	0.0025	0.22
British Pound	1.3574	0.0052	0.38
Canadian Dollar	1.3715	-0.0016	-0.12
New Zealand Dollar	0.6024	0.0048	0.8
Chinese Yuan	7.1774	-0.0016	-0.02
Japanese Yen	145.1500	-0.99	-0.68

What We're Watching

10 Stocks We like Here & Now

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
CAT	Catapult Group International Ltd	5.77	2.67%	198.14%	1.74 6.33
DBI	Dalrymple Bay Infrastructure Ltd	4.08	3.03%	34.69%	2.90 4.21
HSN	Hansen Technologies Ltd	4.86	-1.42%	12.05%	4.04 5.88
JHX	James Hardie Industries Plc	37.89	2.82%	-21.31%	31.86 59.53
MGR	Mirvac Group	2.23	0.45%	13.27%	1.80 2.42
NSR	National Storage Reit	2.37	-0.84%	2.58%	2.05 2.59
PDN	Paladin Energy Ltd	7.49	0.94%	-43.96%	3.93 14.28
RUL	Rpmglobal Holdings Ltd	2.96	1.37%	0.00%	2.17 3.35
SFR	Sandfire Resources Ltd	11.21	1.54%	24.04%	7.79 11.88
WOR	Worley Ltd	13.07	-2.39%	-6.04%	11.07 15.81

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
CKF	Collins Foods	8.52	17.36
AMA	Ama Group	0.11	14.13
VGN	Virgin Australia	3.23	11.38
LFG	Liberty Financia	3.68	10.84
GGP	Greatland Resour	7.30	10.61
SLX	Silex Systems	4.08	8.8
BCI	Bci Minerals	0.35	7.81
GQG	Gqg Partners Cdi	2.08	6.94
HMC	Hmc Capital	4.93	6.94
PLS	Pilbara Minerals	1.29	6.64

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
ERA	Energy Resources	0.00	-33.33
WDS	Woodside Energy	24.16	-6.54
KAR	Karoon Energy Lt	1.96	-6.46
MAH	Macmahon Holding	0.30	-4.84
CYL	Catalyst Metals	5.42	-4.24
PGC	Paragon Care	0.40	-3.66
HGH	Heartland Group	0.73	-3.33
VEA	Viva Energy Grp	2.09	-3.24
FBU	Fletcher Buildin	2.76	-3.16
ASB	Austal	6.03	-3.05

OPINION

Latest Market Matters Opinions

24/06/2025 17:10

Broker Moves

• Greatland Resources Rated New Hold at Moelis & Company • Downer EDI Raised to Outperform at RBC; PT A$6.75 • Metcash Cut to Neutral at Citi; PT A$3.90 • Adairs Raised to Buy at Morgans Financial Limited; PT A$2.60

24/06/2025 17:09

What Matters Today

A strong rebound for the ASX following news of a ceasefire overnight, though it seems missiles continued to fly today, and while it knocked the ASX off its morning high, the concern was short lived.

ACTION

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Ask James ASK A QUESTION

Ask James

Question asked 21/06/2025

Updated view on Telix Pharma Ltd (TLX)

Good afternoon MM team, I would like to know your most recent views on Telix Pharma. The company seems to be having some early success with the commercialisation of a few products; however most recently, the FDA did not approve their next product in the pipeline (Pixclara), and commercialisation has been delayed. I also heard (appreciate if you could confirm) that there might be unfavourable US taxation regime changes on the way for companies such as Telix and CSL, and that is also putting pressure on the share price for both companies. Looking at the financials for Telix, I was a bit surprised to find that their operating margins are just in the low teens. For comparison, Neuren is about 80%, while CSL is close to 33%. Return on capital and ROE are also much lower for TLX. Probably not a fair comparison, due to a different business model, which would be great if you could help me understand. Thanks, Angela

Ask James

Question asked 21/06/2025

Fixed Income Products

Hello James and Team, I was interested to see that you are buying DN1 for the MM income portfolio. I see that it is "powered by Realm". Your comments on REALM as an asset manager would be appreciated. Also could you comment on Gryphon Capital and Real Asset Management (RAM) who offer similar products. I recall that in a Webinar a couple of months ago James spoke favourably about Gryphon. Finally, I see that LaTrobe are releasing a product shortly (LF1). Your comments on LaTrobe would also be appreciated. I understand that your commentary is not financial advice. Kind regards, Lee

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Helia (HLI) – Life after CBA not as bad as it looks

Helia Group Limited is an Australia-based company that provides lenders mortgage insurance (LMI) in Australia. The Company’s LMI protects lenders if a borrower defaults on a home loan and there is a shortfall in the sale proceeds from the secured property.

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