MM remains neutral IEL

06/06/2024

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Afternoon report 12/05/2026

The Match Out: ASX softer ahead of the Budget, BHP hits record, tech sold off

The ASX was weaker today, with the market unable to follow a stronger offshore lead as investors turned more cautious ahead of tonight’s Federal Budget. Lots of leaks in recent days and suffice to say, this will be one of the more important budgets in recent memory with the ALP fiddling with capital gains tax.

Morning report 12/05/2026

What Matters Today: Is Copper the New Oil — And Australia’s Lucky Break?

The ASX 200 delivered another disappointing performance on Monday falling 0.5%, failing to embrace another record breaking session by US equities on Friday night. The day was dominated by another painful downgrade by CSL Ltd (ASX: CSL) which saw the biotech hit 16%, its largest ever 1-day fall, contributing over 70% of the days decline - such was its dramatic fall that it overtook talk of tonight’s budget on many trading desks.