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OPINION
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ANALYSIS

Market Analysis

4DX.AX

4.68%

ABG.AX

AIS.AX

5.56%

AGL.AX

0.36%

A1M.AX

4.79%

AIZ.AX

-0.68%

AAI.AX

3.67%

ALK.AX

6.67%

A4N.AX

ALQ.AX

2.49%

AMC.AX

3.33%

AOV.AX

0.78%

AMP.AX

2.08%

ALD.AX

1.04%

ANN.AX

2.01%

ANZ.AX

1.35%

APA.AX

-0.2%

ARU.AX

ARB.AX

-1.09%

ARF.AX

0.63%

ARG.AX

0.44%

ALL.AX

-0.21%

AYA.AX

6.09%

APZ.AX

1.93%

ASX.AX

-1.4%

ALX.AX

AUB.AX

-0.11%

AIA.AX

-0.42%

AZJ.AX

0.49%

ABB.AX

-0.84%

ASB.AX

2.44%

AAC.AX

AFI.AX

0.44%

AUI.AX

0.36%

BOQ.AX

0.16%

BMN.AX

0.61%

BCI.AX

3.7%

BPT.AX

0.6%

BGA.AX

1.54%

BGL.AX

5.14%

BEN.AX

0.77%

BNZ.AX

8.79%

BHP.AX

1.56%

BKI.AX

BC8.AX

4.35%

XYZ.AX

2.25%

BSL.AX

3.03%

BOE.AX

7.14%

BXB.AX

1.81%

BVS.AX

4.52%

BRE.AX

0.44%

BRG.AX

-0.53%

BGP.AX

BFL.AX

-0.67%

BWP.AX

0.53%

CMM.AX

10.13%

CSC.AX

0.22%

CAR.AX

0.47%

CIN.AX

-1.47%

CYL.AX

19.18%

CAT.AX

CWP.AX

1.89%

CNI.AX

-1.32%

CIP.AX

COF.AX

0.56%

CGF.AX

1.57%

CIA.AX

3.86%

CHI.AX

CHC.AX

1.82%

CLW.AX

0.83%

CQR.AX

CQE.AX

1.15%

CNU.AX

-1.38%

C79.AX

3.93%

CVL.AX

1.62%

CU6.AX

2.79%

CWY.AX

1.71%

CUV.AX

-0.1%

CBO.AX

COH.AX

3.83%

CDA.AX

-0.09%

COL.AX

0.78%

CKF.AX

0.13%

CBA.AX

2.41%

CPU.AX

3.01%

CEN.AX

-0.53%

CXO.AX

9.43%

CCP.AX

-0.56%

CMW.AX

1.19%

CSL.AX

3.45%

CCL.AX

-2.92%

DBI.AX

DTL.AX

-0.84%

DTR.AX

7.69%

DYL.AX

0.68%

DRR.AX

0.22%

DVP.AX

0.8%

DXS.AX

0.18%

DXI.AX

DDR.AX

0.34%

DGT.AX

-3.6%

DJW.AX

0.69%

DMP.AX

0.06%

DOW.AX

0.89%

DPM.AX

6.54%

DRO.AX

0.84%

DUR.AX

-1.66%

DNL.AX

0.51%

APE.AX

3.16%

EBO.AX

3.13%

EIQ.AX

-5.71%

ELD.AX

-1.12%

EOS.AX

1.4%

ELV.AX

4.87%

ELS.AX

4.98%

EHL.AX

EMR.AX

6.34%

EDV.AX

-0.59%

ERA.AX

EQR.AX

-1.64%

EUR.AX

-2.44%

EVN.AX

8.83%

EVT.AX

0.71%

FCL.AX

-7.46%

FFM.AX

5.21%

FPH.AX

2.38%

FPR.AX

1.73%

FBU.AX

1.47%

FLT.AX

1.5%

FRS.AX

-1.1%

FMG.AX

-3.16%

FRW.AX

FGX.AX

-0.37%

FGG.AX

0.59%

GLF.AX

1.34%

GDG.AX

9.14%

GNE.AX

GMD.AX

16.7%

GNP.AX

-1.66%

GMG.AX

-0.39%

GPT.AX

0.21%

GQG.AX

0.34%

GNG.AX

0.77%

GNC.AX

-1.66%

GGP.AX

4.07%

GOZ.AX

0.47%

GCI.AX

-0.48%

GYG.AX

3.75%

GWA.AX

0.87%

HSN.AX

-1.57%

HVN.AX

0.22%

HGH.AX

1.52%

HM1.AX

3.06%

HLI.AX

1.42%

HMC.AX

1.66%

HDN.AX

0.4%

HUB.AX

6.44%

IEL.AX

-2.16%

IGO.AX

1.21%

ILU.AX

IMD.AX

0.74%

IMR.AX

-1.97%

IFT.AX

-0.95%

INA.AX

1.36%

ING.AX

-1.45%

IAG.AX

-0.98%

IDX.AX

0.5%

IPG.AX

-4.4%

IPX.AX

-0.95%

IPH.AX

2.93%

IRE.AX

JHX.AX

0.38%

JBH.AX

0.74%

JDO.AX

-2.22%

JMS.AX

KAR.AX

0.36%

KLS.AX

-0.46%

KCN.AX

6.72%

KKC.AX

-1.44%

GLS.AX

-0.48%

LGF.AX

2.58%

L1G.AX

0.84%

LSF.AX

1.47%

LRV.AX

4.1%

LFS.AX

0.55%

LLC.AX

0.65%

LFG.AX

3.66%

360.AX

0.99%

LIC.AX

1.5%

LNW.AX

1.1%

LIN.AX

2.69%

LTR.AX

2.1%

LOV.AX

-1.65%

LYL.AX

1.46%

LYC.AX

2.19%

MA1.AX

-0.25%

MAF.AX

5.18%

MGH.AX

-1.84%

MAH.AX

-1.69%

MQG.AX

0.56%

MAQ.AX

-6.03%

MAD.AX

3.67%

MFG.AX

-1.94%

MMS.AX

MPL.AX

0.2%

MP1.AX

-2.84%

MCY.AX

0.37%

MEZ.AX

-0.63%

MSB.AX

0.49%

MLX.AX

2.31%

MTS.AX

1.69%

MOT.AX

0.91%

MXT.AX

1.05%

MMI.AX

1.16%

MFF.AX

1.36%

MIN.AX

2.05%

MI6.AX

3.4%

MIR.AX

1.21%

MGR.AX

0.59%

MND.AX

0.77%

MYR.AX

-1.64%

MYS.AX

-0.43%

NAN.AX

2.45%

NAB.AX

0.42%

NGI.AX

2.02%

NWL.AX

NEU.AX

-1.53%

NHC.AX

1.32%

NEM.AX

4.98%

NWS.AX

2.53%

NXG.AX

1.95%

NXT.AX

-2.69%

NHF.AX

0.71%

NCK.AX

NIC.AX

-1.05%

NEC.AX

2.81%

NST.AX

11.75%

NWH.AX

0.42%

NUF.AX

-0.76%

OCL.AX

-13.46%

OML.AX

-0.35%

OPH.AX

0.41%

OBM.AX

7.69%

ORI.AX

1.05%

ORG.AX

-1.15%

ORA.AX

-0.72%

PDN.AX

0.3%

PNR.AX

4.37%

PPC.AX

-1.74%

PPM.AX

6.31%

PRN.AX

2.2%

PPT.AX

1.33%

PCI.AX

0.92%

PRU.AX

7.19%

PXA.AX

-21.29%

PNI.AX

1.9%

PL8.AX

-0.72%

PLS.AX

1.95%

PGF.AX

-1.49%

PNV.AX

3.16%

PDI.AX

4.79%

PMV.AX

-0.69%

PME.AX

1.81%

PWH.AX

-2.96%

PYC.AX

-4.95%

QAN.AX

-0.09%

QBE.AX

-1%

QAL.AX

6.23%

QRI.AX

-0.63%

QUB.AX

0.39%

RMS.AX

RHC.AX

1.21%

REA.AX

1.98%

RDX.AX

-1.09%

REH.AX

0.74%

RF1.AX

3.43%

RPL.AX

5.78%

RG1.AX

1.24%

RGN.AX

REG.AX

4.02%

RRL.AX

8.16%

RWC.AX

2.11%

RMD.AX

4.02%

RSG.AX

3.61%

SGLLV.AX

3.57%

RIC.AX

RIO.AX

-0.06%

RXL.AX

RFF.AX

1.02%

RYM.AX

-0.55%

SFR.AX

3.92%

STO.AX

0.14%

SCG.AX

1.57%

SEK.AX

1.99%

SHV.AX

0.82%

SRV.AX

SSM.AX

1.97%

SGH.AX

SHA.AX

1.37%

SIG.AX

2.2%

SLX.AX

SGM.AX

0.88%

SDR.AX

2.06%

SKS.AX

-2.63%

SKC.AX

-2.11%

SIQ.AX

1.51%

SHL.AX

1.58%

S32.AX

SX2.AX

4.95%

SXE.AX

-2.65%

SPK.AX

-0.98%

SRG.AX

-0.26%

SBM.AX

5.21%

SMR.AX

0.44%

SDF.AX

SGP.AX

1.25%

SKG.AX

-0.38%

SNZ.AX

0.14%

SUN.AX

-3.72%

SRL.AX

4.47%

SUL.AX

0.86%

SLC.AX

-0.32%

SNL.AX

-0.99%

SYL.AX

-1.06%

TAH.AX

3.11%

TEA.AX

-0.34%

TNE.AX

2.52%

TLX.AX

-1.75%

TLS.AX

-0.2%

TPW.AX

-0.9%

A2M.AX

2.42%

TLC.AX

-1.97%

SGR.AX

1.08%

TVN.AX

14.06%

THL.AX

2.5%

TWR.AX

-1.29%

TPG.AX

-0.82%

TCL.AX

0.49%

TWE.AX

1.56%

TUA.AX

2.65%

TCG.AX

8.25%

TRA.AX

UNI.AX

0.39%

VAU.AX

8.06%

VNT.AX

0.33%

VCX.AX

2.33%

VGN.AX

0.33%

VMM.AX

5.71%

VEA.AX

0.94%

VUL.AX

0.98%

VSL.AX

2.4%

VYS.AX

-1.51%

WA1.AX

4.49%

WGN.AX

3.04%

WAM.AX

1.95%

WGB.AX

-0.91%

WLE.AX

1.47%

SOL.AX

1.56%

WPR.AX

0.42%

WQG.AX

-2.03%

WEB.AX

-0.7%

WBT.AX

1.42%

WES.AX

1.61%

WAF.AX

4.68%

WGX.AX

6.95%

WBC.AX

0.65%

WHF.AX

0.42%

WHC.AX

0.8%

WIA.AX

3.16%

WC8.AX

WTN.AX

WTC.AX

1.85%

WDS.AX

-0.57%

WOW.AX

1.09%

WOR.AX

0.09%

XRO.AX

1.43%

YAL.AX

0.54%

ZIM.AX

4.23%

ZIP.AX

4.53%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	147.56	2.09	1.44
SSO ASX Small Caps	14.67	0.17	1.17
IVV S&P 500	71.86	-0.28	-0.39
NDQ Nasdaq	62.07	-0.61	-0.97
F100 FTSE 100	15.27	0.3	2
ASIA Asia Tech	22.03	0.48	2.23
IEU Europe	99.73	1.53	1.56
IEM Emerging Markets	97.74	1.74	1.81
Gold Gold	55.10	0.77	1.42
ACDC Battery Tech	142.08	-1.26	-0.88

COMMODITIES	Close($)	-/+	%
Gold	4,174.90	52.0997	1.26
Silver	62.40	1.3925	2.28
Platinum	1,637.97	21.72	1.34
Palladium	1,273.71	5.8099	0.46
Ice Brent Crude	71.94	0.14	0.19
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6940	0.0019	0.27
Euro	1.1433	0.0007	0.06
British Pound	1.3351	0.0005	0.04
Canadian Dollar	1.4198	0.0017	0.12
New Zealand Dollar	0.5708	0.0012	0.21
Chinese Yuan	6.7797	-0.0089	-0.13
Japanese Yen	161.3700	0.28	0.17

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.77	4.79%	131.75%	0.30 0.79
BGL	Bellevue Gold Ltd	1.33	5.14%	0.00%	0.78 2.00
BHP	Bhp Group Ltd	60.50	1.56%	60.13%	37.56 65.98
FMG	Fortescue Ltd	18.36	-3.16%	18.72%	15.94 23.38
NHC	New Hope Corporation Ltd	5.37	1.32%	38.38%	3.77 6.17
WHC	Whitehaven Coal Ltd	7.59	0.8%	34.22%	5.81 9.90
NEM	Newmont Cdi	142.17	4.98%	0.00%	87.37 190.91
NXG	Nexgen Ene Cdi	14.14	1.95%	0.00%	9.66 20.47
SFR	Sandfire Resources Ltd	19.34	3.92%	64.84%	10.11 21.75

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
CYL	Catalyst Metals	6.09	19.18
GMD	Genesis Minerals	6.29	16.7
TVN	Tivan	0.37	14.06
NST	Northern Star Re	22.16	11.75
CMM	Capricorn Metals	14.03	10.13
CXO	Core Lithium	0.29	9.43
GDG	Generation Devel	4.06	9.14
EVN	Evolution Mining	12.82	8.83
BNZ	Benz Mining-cdi	2.60	8.79
TCG	Turaco Gold	0.53	8.25

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
PXA	Pexa Group	8.54	-21.29
OCL	Objective Corpor	6.75	-13.46
FCL	Fineos Corporati	2.11	-7.46
MAQ	Macquarie Techno	65.31	-6.03
EIQ	Echoiq	1.65	-5.71
PYC	Pyc Therapeutics	1.54	-4.95
IPG	Ipd Group	5.00	-4.4
SUN	Suncorp Grou	18.63	-3.72
DGT	Digico Infrastru	2.41	-3.6
FMG	Fortescue	18.36	-3.16

OPINION

Latest Market Matters Opinions

04/07/2026 07:55

First Up

The ASX200 ended a choppy week with an impressive triple-figure gain on Friday, which propelled the index up +0.9% for the week and into positive territory for July, seasonally the strongest month of the year for the Australian market. The strength at the end of the week was driven by an impressive rally in gold stocks, ably supported by fellow heavyweight miners following weak US jobs data dampened expectations of a Fed rate hike. Elsewhere, heavy losses in the global semiconductors caught the news but had little impact on the ASX.

03/07/2026 17:10

Broker Moves

• PEXA Group Cut to Neutral at JPMorgan; PT A$10.50 • Suncorp Cut to Neutral at Jarden Securities; PT A$19.70 • QBE Insurance Cut to Underweight at Jarden Securities • Insurance Australia Cut to Neutral at Jarden Securities; PT A$8 • HUB24 Raised to Outperform at Macquarie; PT A$96.25 • Bluescope Cut to Neutral at Barrenjoey; PT A$29 • ASX Cut to Underweight at Barrenjoey; PT A$53.25 • MMA AU Rated New Speculative Buy at Morgans Financial Limited • Mader Group Rated New Buy at Argonaut Securities; PT A$9.50 • Lottery Corp. Cut to Hold at CLSA; PT A$5.90 • Fortescue Cut to Sell at Goldman; PT A$16.90 • Mayne Pharma Cut to Speculative Buy at Canaccord; PT A$3.84 • Avita Medical GDRs Cut to Hold at Morgans Financial Limited • Atlas Arteria Cut to Underperform at RBC; PT A$4.75

ACTION

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Market Matters Content

ETF Friday: Revisiting Five Tech ETFs as Meta threatens to pop the Semiconductor Bubble

Morning report 03/07/2026

Afternoon Report

The Match Out: Gold glitters as rate hopes drive the ASX higher

Afternoon report 03/07/2026

Ask James ASK A QUESTION

Ask James

Question asked 04/07/2026

Sudden drop in Asian ETFs?

Crickey! I'm heavily invested in Asian ETFs, but on Friday 26th it dropped by 4.71%. This was pretty shocking for me, or is just life? It appears to be because of concerns about future demand for the demand of semiconductor, and other picks and shovels supporting the hyperscalers, AI and data centre development. Fortunately I have read where Samsung and SK Hynix, who dominate in the Korean market, will announce on Monday 29th June investment of "hundreds of billions of dollars" in new production facilities. So very mixed messages here for me. Do you have any information/insights on these developments? I continue to monitor my funds daily with a view to cash when the time is right. Very difficult!

Ask James

Question asked 04/07/2026

Pullbacks & Corrections

Resources (I'm writing this on Monday and also the EOFY, so we'll see what the coming week brings. In your Webinar, Shawn implied that we commodity investors seem to think that in a bull market we expect our shares to go up every day. That's a bit condescending. I have shares in Australian and North American companies in gold, silver, uranium and others. I expected volatility right from my first commodity buy in 2019. But this calendar year the majority of them are down anywhere from 20% to 65% and falling. Should I call that a pullback or a whopping big correction? I don't see how that can possibly look like the beginning of a super cycle. What am I missing?

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