The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.
The market added 2.26% in July, its second-best month of 2026 – living up to seasonal strength, although it didn’t really feel like a bullish period for equities with plenty of negative headlines about. Interestingly, we also outperformed the US market which fell -0.8% for the month, just as many investors turned uber bearish on Australia’s prospects relative to the US!
- ASX 200: +9.09pts / +0.10% to 8,976.80
- AUD/USD: 0.7032 / +0.07%
- Best sectors: Materials +1.42%, REITs +0.71%, Information Technology +0.56%
- Worst sectors: Healthcare -1.84%, Consumer Staples -1.26%, Communications -0.73%
- 4DMedical (4DX) +13.08% to $3.63 was the strongest stock in the ASX 200, rebounding sharply following recent volatility across higher-beta healthcare and technology names.
- Megaport (MP1) +11.52% to $18.10 surged as confidence returned to AI infrastructure and data-centre-linked stocks following a record rebound in South Korean semiconductor shares.
- Silex Systems (SLX) +10.29% to $4.61, Deep Yellow (DYL) +8.64% to $1.32 and Paladin Energy (PDN) +7.05% to $9.42 led a strong recovery across uranium-related stocks.
- Ora Banda Mining (OBM) +8.10% to $1.14 rallied after drilling expanded the footprint of its Little Gem gold prospect, with the Sapphire lodes now extending across more than 2.6 kilometres of strike. A maiden mineral resource remains targeted for late 2026.
- Zip Co (ZIP) +8.05% to $2.55 recovered strongly after being among the market’s weaker performers earlier in the month – it still lost over 20% for the month.
- Capstone Copper (CSC) +7.12% to $13.69 gained after reporting strong operational performance from its Mantoverde mine and an 8.6% reduction in net debt.
- Gold miners recovered from Thursday’s sell-off, with Newmont Corporation (NEM) +3.46% to $134.97 supported by bullion holding around US$4,080/oz.
- Pinnacle Investment Management (PNI) +5.48% to $15.98 rallied, while Perpetual (PPT) +1.61% and Magellan Financial Group (MFG) +1.27% also gained across the listed fund-management sector.
- The major diversified miners finished higher on copper strength following the rebound in global AI sentiment. BHP Group (BHP) +1.96% to $60.31 and Rio Tinto (RIO) +1.28% to $170.57 both finished higher.
- Fortescue (FMG) -1.86% to $18.51 underperformed after flagging a US$525m after-tax impairment against the Iron Bridge magnetite project. FY27 cost and capital expenditure guidance also came in above market expectations.
- Goodman Group (GMG) +1.67% to $29.77 advanced alongside broader strength in REITs.
- Macquarie Group (MQG) +1.24% to $253.09 gained, while the major retail banks were softer. Commonwealth Bank (CBA) -0.40% to $177.53, National Australia Bank (NAB) -0.53% to $41.33, ANZ Group (ANZ) -0.53% to $37.31 and Westpac (WBC) -0.73% to $37.87 all declined.
- Origin Energy (ORG) +0.94% to $10.76 edged higher after reporting that business electricity volumes increased 7% in the June quarter, supported by additional demand from data-centre customers. Octopus Energy added 2.2m customers during FY26, while Kraken contracted accounts reached 95m.
- Healthcare was the weakest sector as investors took profits following Wednesday’s rally. CSL Ltd (CSL) -3.81% to $123.06 fell after Macquarie named it its least-preferred healthcare stock.
- Sonic Healthcare (SHL) -2.84% to $21.86 and Cochlear (COH) -1.85% also declined.
- Australia’s technology sector was mixed despite the strong rebound offshore. NEXTDC (NXT) +4.46% to $13.36 benefited from renewed confidence in AI infrastructure, while WiseTech Global (WTC) -4.20% to $36.30 and Xero (XRO) -2.07% to $70.00 finished lower.
- Domino’s Pizza Enterprises (DMP) -5.21% to $18.57 gave back part of Thursday’s strong rally following its better-than-expected profit update.
- Champion Iron (CIA) -5.80% to $3.41 was the weakest stock in the ASX 200, while Whitehaven Coal (WHC) -2.79% to $6.98 and New Hope Corporation (NHC) -2.99% to $5.19 also declined.
- Brent crude: approximately -1.3% to US$87.270/bbl, although oil still gained around 20% during July as the US-Iran conflict tightened global supply conditions.
- Gold: around US$4,080/oz, on track for its first monthly advance since February as a weaker US dollar and continued dip-buying provided support.
- Asian markets: South Korea’s Kospi surged as much as 18%, with Samsung Electronics and SK Hynix gaining more than 20% as forced deleveraging reversed and investors rebuilt AI exposure.
- China up +1%,Hiong Kong fell -0.3% while Japan stormed +4.3% higher
- S&P 500 E-mini futures: +36.25 points / +0.49%
- Dow E-mini futures: +238 points / +0.45%
