MM is bullish towards the FTSE around 10,400

09/06/2026

MM is bullish towards the FTSE around 10,400

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Morning report 10/06/2026

Portfolio Positioning: The ASX shrugs off Consumer Confidence, testing multi-decade lows

The ASX showed impressive resilience on Tuesday, reversing early triple-digit losses to finish down just 0.21%, in a near carbon copy of the previous week's price action. The broader market was healthier than the index implied, with fewer than 40% of stocks on the main board closing lower. However, the heavyweight miners continued to cause a significant drag, with BHP alone effectively accounting for all of the ASX200's decline. As June 30 approaches, some profit-taking and performance reversion are beginning to emerge across one of the market's standout-performing sectors.

Afternoon report 09/06/2026

The Match Out: ASX shakes off a rough start as defensives shine and miners stay under the pump

The ASX spent most of today digging itself out of an early hole, with the market initially rattled by Friday night's strong US payrolls report before steadily recovering through the session. After falling sharply at the open, buyers gradually returned and by the close the index had trimmed the bulk of its losses - the market remains willing to buy weakness despite ongoing uncertainty around rates.