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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

4DX.AX

0.41%

ABG.AX

1.55%

AIS.AX

AGL.AX

-1.7%

A1M.AX

1.45%

AIZ.AX

AAI.AX

1.15%

ALK.AX

-2.88%

A4N.AX

3.25%

ALQ.AX

1.67%

AMC.AX

0.03%

AOV.AX

0.27%

AMP.AX

AEL.AX

0.53%

ALD.AX

0.15%

ANN.AX

0.49%

ANZ.AX

-0.72%

APA.AX

-0.69%

ARU.AX

-1.72%

ARB.AX

-0.92%

ARF.AX

1.15%

ARG.AX

0.33%

ALL.AX

-0.86%

APZ.AX

0.32%

ASX.AX

-0.43%

ALX.AX

1.35%

AIA.AX

0.3%

AXQ.AX

2.08%

AMI.AX

-0.67%

AZJ.AX

AFI.AX

0.75%

AUC.AX

1.28%

ABB.AX

-0.95%

ASB.AX

0.84%

AUB.AX

0.63%

AAC.AX

-1.85%

ACL.AX

1.19%

AUI.AX

0.59%

BMN.AX

4.83%

BAP.AX

-0.3%

BCI.AX

-2.48%

BPT.AX

-1.86%

BGA.AX

-1.57%

BGL.AX

2.87%

BEN.AX

-0.66%

BNZ.AX

1.03%

BHP.AX

0.94%

BOQ.AX

-0.14%

BKI.AX

0.57%

XYZ.AX

-2.65%

BSL.AX

3.03%

BOE.AX

4.56%

BXB.AX

-0.28%

BVS.AX

1.84%

BRG.AX

-1.5%

BFL.AX

BWP.AX

1.27%

CMM.AX

2.78%

CSC.AX

1.7%

CAR.AX

-1.06%

CIN.AX

1.24%

CYL.AX

3.16%

CAT.AX

2.73%

CWP.AX

2.16%

CNI.AX

0.23%

CIP.AX

0.89%

COF.AX

0.58%

CGF.AX

-0.42%

CIA.AX

-0.68%

CLW.AX

0.9%

CHC.AX

-0.3%

CQR.AX

1.96%

CQE.AX

1.24%

CNU.AX

-1.43%

C79.AX

-3.77%

CVL.AX

3.57%

CU6.AX

-0.16%

CWY.AX

0.17%

CBO.AX

-1.54%

COH.AX

-2.78%

CDA.AX

0.62%

CGS.AX

-1.01%

COL.AX

-1.16%

CKF.AX

CPU.AX

0.08%

CEN.AX

-1%

CXO.AX

3.85%

CCP.AX

-0.68%

CMW.AX

1.52%

CSL.AX

-1.68%

CCL.AX

-0.43%

CBA.AX

-0.24%

DYL.AX

5.56%

DBI.AX

-0.87%

DTL.AX

0.38%

DRR.AX

DVP.AX

1.75%

DXI.AX

-0.42%

DXS.AX

0.26%

DDR.AX

1.39%

DGT.AX

4.38%

DJW.AX

0.5%

DMP.AX

0.37%

DOW.AX

-1.76%

DPM.AX

1.3%

DRO.AX

1.57%

DUR.AX

1.84%

DNL.AX

-0.39%

APE.AX

7.72%

EBO.AX

1.49%

ELD.AX

-0.86%

EOS.AX

3.07%

ELV.AX

3.82%

ELS.AX

-1.06%

EHL.AX

0.78%

EMR.AX

1.47%

EDV.AX

-1.06%

EQR.AX

2.83%

EQT.AX

-1.99%

EUR.AX

2.11%

EVN.AX

0.71%

EVT.AX

0.59%

FPH.AX

-0.38%

FDC.AX

1.47%

FCL.AX

-4.4%

FFM.AX

4.49%

FPR.AX

FBU.AX

-1.14%

FLT.AX

-1.07%

FRS.AX

FMG.AX

1.75%

FGX.AX

0.37%

FGG.AX

1.88%

GLF.AX

-0.51%

GDG.AX

-2.61%

GNE.AX

GMD.AX

2.27%

GNP.AX

-0.9%

GMG.AX

3.17%

GPT.AX

0.53%

GQG.AX

-0.5%

GNG.AX

0.96%

GNC.AX

0.08%

GGP.AX

5.93%

G6M.AX

-1.98%

GOZ.AX

1.02%

GCI.AX

0.25%

GYG.AX

2.67%

GWA.AX

-0.5%

HSN.AX

1.11%

HVN.AX

-0.12%

HGH.AX

HM1.AX

-0.36%

HLI.AX

-0.19%

HMC.AX

2.25%

HDN.AX

0.67%

HUB.AX

-0.46%

IEL.AX

0.9%

IGO.AX

3.14%

ILU.AX

2.52%

IMD.AX

1.44%

IFT.AX

0.05%

INA.AX

6.2%

ING.AX

-2.31%

IAG.AX

-1.01%

IDX.AX

IPG.AX

1.62%

IPX.AX

1.69%

IPH.AX

-0.68%

IRE.AX

0.26%

JHX.AX

-0.53%

JBH.AX

0.66%

JDO.AX

-0.55%

KAR.AX

1.2%

KLS.AX

1.25%

KCN.AX

3.3%

KKC.AX

-0.99%

GLS.AX

1.9%

LGF.AX

-1.81%

L1G.AX

2.82%

LSF.AX

2.74%

LFS.AX

2.53%

LLC.AX

1.46%

LFG.AX

0.31%

360.AX

-1.75%

LIC.AX

3.96%

LNW.AX

-1.18%

LIN.AX

LTR.AX

5.08%

LOV.AX

-1.36%

LYL.AX

1.24%

LYC.AX

2.66%

MAF.AX

2.91%

MGH.AX

4.34%

MAH.AX

-2.07%

MQG.AX

0.02%

MAQ.AX

0.13%

MAD.AX

-0.08%

MFG.AX

3.61%

MMS.AX

0.43%

MPL.AX

1.8%

MP1.AX

1.01%

MCY.AX

-1.44%

MEZ.AX

-1.96%

MSB.AX

1.13%

MLX.AX

4.24%

MTS.AX

-0.47%

MEI.AX

1.19%

MXT.AX

-1.22%

MFF.AX

0.97%

MIN.AX

0.8%

MI6.AX

7.2%

MIR.AX

0.22%

MGR.AX

0.83%

MND.AX

1.25%

MYS.AX

-1.6%

NAN.AX

0.82%

NAB.AX

-0.61%

NGI.AX

0.5%

NWL.AX

-0.46%

NEU.AX

-3.86%

NHC.AX

-0.08%

NMG.AX

1.82%

NEM.AX

0.59%

NWS.AX

-0.54%

NXG.AX

1.93%

NXT.AX

-1.78%

NHF.AX

-1.72%

NCK.AX

1.5%

NIC.AX

-4.23%

NEC.AX

-1.1%

NST.AX

1.74%

NWH.AX

-0.66%

NUF.AX

-0.33%

NXL.AX

0.81%

OCL.AX

-1.37%

OML.AX

0.3%

OBM.AX

7.43%

ORI.AX

-0.92%

ORG.AX

-1.15%

ORA.AX

-1.64%

PDN.AX

3.34%

PNR.AX

4.46%

PDI.AX

6.36%

PPC.AX

-2.71%

PPM.AX

0.59%

PRN.AX

0.66%

PPT.AX

1.17%

PCI.AX

0.23%

PRU.AX

1.57%

PXA.AX

0.45%

PNI.AX

-0.62%

PL8.AX

PLS.AX

8.4%

PGF.AX

0.98%

PNV.AX

-3.69%

PMV.AX

-0.36%

PME.AX

1.64%

PWH.AX

-0.18%

PYC.AX

-2.81%

QAN.AX

0.36%

QBE.AX

-0.89%

QRI.AX

1.88%

QAL.AX

1.11%

RMS.AX

1.66%

RHC.AX

0.11%

REA.AX

0.4%

RDX.AX

0.86%

REH.AX

-0.11%

RF1.AX

-1.01%

RG1.AX

1.69%

RPL.AX

1.75%

RGN.AX

0.66%

REG.AX

-0.73%

RRL.AX

3.8%

RWC.AX

-0.34%

RMD.AX

0.06%

RSG.AX

4.59%

SGLLV.AX

1.84%

RIC.AX

0.19%

RIO.AX

-0.27%

RXL.AX

0.99%

RFF.AX

0.91%

RYM.AX

-1.02%

SFR.AX

3.09%

STO.AX

1.33%

SCG.AX

-0.14%

SEK.AX

-1.17%

SHV.AX

-1.27%

SRV.AX

-1.14%

SGH.AX

-0.05%

SHA.AX

1.44%

SIG.AX

0.55%

SLX.AX

3.88%

SGM.AX

1.82%

SDR.AX

1.81%

SKS.AX

-4.25%

SKC.AX

SIQ.AX

-0.78%

SHL.AX

1.01%

S32.AX

2.66%

SX2.AX

-4.12%

SPK.AX

-0.32%

SRG.AX

0.6%

SSM.AX

-0.68%

SBM.AX

1.63%

SMR.AX

2.54%

SDF.AX

-0.26%

SXE.AX

-2.07%

SGP.AX

-1.06%

SKG.AX

-0.69%

SNZ.AX

SUN.AX

-2.43%

SRL.AX

-1.1%

SUL.AX

0.44%

SLC.AX

-1.1%

SNL.AX

-0.68%

SYL.AX

-0.59%

TAH.AX

-0.58%

TEA.AX

2.34%

TNE.AX

1.26%

TLX.AX

-1.82%

TLS.AX

-0.71%

TPW.AX

-5.34%

A2M.AX

-0.22%

TLC.AX

-1.11%

SGR.AX

-4.17%

TWR.AX

0.45%

TPG.AX

-0.65%

TCL.AX

0.39%

TWE.AX

TUA.AX

-30.63%

TCG.AX

7.09%

UNI.AX

-1.5%

VAU.AX

2.22%

VNT.AX

-2.87%

VCX.AX

1.04%

VGN.AX

VMM.AX

-5.98%

VGL.AX

4.19%

VEA.AX

3.23%

VUL.AX

9.66%

VSL.AX

-1.6%

WA1.AX

3.28%

WGN.AX

-1.82%

WGB.AX

WLE.AX

1.19%

WAM.AX

-0.5%

SOL.AX

-0.45%

WPR.AX

-0.23%

WQG.AX

0.51%

WEB.AX

-0.72%

WBT.AX

1.69%

WES.AX

-0.72%

WAF.AX

0.63%

WGX.AX

3.03%

WBC.AX

-0.6%

WHF.AX

-0.21%

WHC.AX

-0.25%

WIA.AX

1.27%

WTC.AX

0.95%

WDS.AX

1.07%

WOW.AX

-2.25%

WOR.AX

1.32%

XRO.AX

0.78%

YAL.AX

2.24%

ZIM.AX

-4.57%

ZIP.AX

14.04%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	146.97	0.21	0.14
SSO ASX Small Caps	13.33	0.11	0.83
IVV S&P 500	72.20	-0.44	-0.61
NDQ Nasdaq	59.85	-0.25	-0.42
F100 FTSE 100	15.29	-0.06	-0.39
ASIA Asia Tech	17.96	0.01	0.06
IEU Europe	94.76	-0.2	-0.21
IEM Emerging Markets	88.05	-0.75	-0.84
Gold Gold	52.15	-0.15	-0.29
ACDC Battery Tech	99.83	-0.09	-0.09

COMMODITIES	Close($)	-/+	%
Gold	4,010.65	15.13	0.38
Silver	54.16	0.2639	0.49
Platinum	1,550.75	-0.0762	0
Palladium	1,049.85	5.758	0.55
Ice Brent Crude	117.38	4.21	3.72
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.7029	-0.0004	-0.06
Euro	1.1222	0.002	0.18
British Pound	1.3378	0.0006	0.04
Canadian Dollar	1.4003	-0.0001	-0.01
New Zealand Dollar	0.5701	0.0002	0.04
Chinese Yuan	6.6688	-0.0014	-0.02
Japanese Yen	156.8000	-0.02	-0.01

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.70	1.45%	51.65%	0.42 0.94
BGL	Bellevue Gold Limited	1.34	2.87%	0.00%	1.06 2.00
BHP	Bhp Group Ltd	55.58	0.96%	27.99%	40.18 68.77
FMG	Fortescue Ltd	14.53	1.82%	-31.53%	14.13 23.38
NHC	New Hope Corporation Ltd	6.10	-0.08%	56.01%	3.77 6.61
WHC	Whitehaven Coal Limited	7.89	-0.25%	12.84%	6.66 9.90
NEM	Newmont Cdi	156.08	0.68%	0.00%	117.59 190.91
NXG	Nexgen Ene Cdi	11.63	1.93%	0.00%	11.34 20.47
SFR	Sandfire Resources Limited	19.02	3.09%	19.65%	14.41 25.00

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
ZIP	Zip Co	1.67	14.04
VUL	Vulcan Energy	1.14	9.66
PLS	Pls Group Limite	2.84	8.4
APE	Eagers Automotiv	20.03	7.72
OBM	Ora Banda Mining	1.19	7.43
MI6	Minerals 260	0.71	7.2
TCG	Turaco Gold	0.68	7.09
PDI	Pdi Gold	3.77	6.36
INA	Ingenia Communit	5.06	6.2
GGP	Greatland Resour	9.20	5.93

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
TUA	Tuas	1.26	-30.63
VMM	Viridis Mining A	3.30	-5.98
TPW	Temple & Webster	5.14	-5.34
ZIM	Zimplats Holding	13.37	-4.57
FCL	Fineos Corporati	1.85	-4.4
SKS	Sks Technologies	5.41	-4.25
NIC	Nickel Industrie	0.62	-4.23
SGR	The Star Enterta	0.12	-4.17
SX2	Southern Cro Cdi	8.61	-4.12
NEU	Neuren Pharma	18.83	-3.86

OPINION

Latest Market Matters Opinions

26/10/2026 09:45

LME Copper 3-months (US$/MT)

As we’ve witnessed on the ASX, copper stocks have tumbled in recent weeks despite the industrial metal being fairly stable - the Global X Copper Miners ETF (WIRE) is trading around 30% below its January high. Copper stocks are struggling despite a relatively modest pullback in the metal itself, with copper falling around 4.5% from its September peak near US$14,900/t with three factors explaining the divergence:

26/10/2026 09:45

Natural Gas Dec ‘Futures (US$/MMBtu) US$305/MMBtu

US natural gas futures have fallen ~27% in 2026, as warmer weather, ample storage and weak demand weigh on prices. The year began with a brief spike during an extreme cold snap, but prices quickly retreated as temperatures moderated. The broader trend has been driven by a persistent warm-weather outlook, with forecasts of above-average temperatures reducing heating demand in winter and cooling demand in summer. Last week, prices fell more than 15%, their biggest weekly decline since February, as warmer conditions are forecast to persist across much of the US through November.

ACTION

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Market Matters Content

Macro Monday: Should we be reweighting our portfolios in earnest?

Morning report 26/10/2026

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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Pulse Check Webinar: Portfolio positioning post the Budget 20/05/2026

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Latest View Points

WIRE

WHC

ZIP

BX US

SPOT US

WBC

ANZ

PME

XRO

ATEC

IGV US

RIO

Chart of the week

Philadelphia Exchange Semiconductor Index (SOX)

Aus. Investment blog Subscribe to blog

Why Tuas Ltd (ASX: TUA) is down another ~30%

Tuas plunged ~40% this morning on a regulatory enforcement action against its core Singapore telecom subsidiary, Simba.

ASX: TUA 23/10/2026

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 23/10/2026

Morning Report

Macro Monday: Should we be reweighting our portfolios in earnest?

Morning report 26/10/2026

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

WIRE

WHC

ZIP

BX US

SPOT US

WBC

ANZ

PME

XRO

ATEC

IGV US

RIO

Chart of the week

Philadelphia Exchange Semiconductor Index (SOX)

Aus. Investment blog Subscribe to blog

Why Tuas Ltd (ASX: TUA) is down another ~30%

Tuas plunged ~40% this morning on a regulatory enforcement action against its core Singapore telecom subsidiary, Simba.

ASX: TUA 23/10/2026

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 23/10/2026

Opinion + Action