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The ASX opened lower and chopped around for most of the day until a sustained upward move in the afternoon pulled the index back to close near flat. Belief in a potential US-Iran ceasefire continued to be hold firm despite a rebound in oil prices, though there was plenty of action under the surface. Technology was the standout sector, with local software stocks tracking the positive move in the U.S on Friday night, while Banks and Healthcare names dragged.
- ASX 200: 8,729.40 / −2.25pts / −0.03%
- AUD/USD: 0.7182 / −0.04%
- Best sectors: IT +5.43%, Materials +0.49%, Energy +0.34%
- Worst sectors: Financials −0.33%, REITs −0.76%, Healthcare −1.68%
- ReadyTech (ASX: RDY) +21.64% to $1.63 rallied to its highest level since February after rejecting a $2.00 per share takeover proposal from Total Specific Solutions, with the board arguing the offer undervalued the business.
- SiteMinder (ASX: SDR) +10.86% to $3.88 extended Friday’s gains after investors continued to digest its deeper integration agreement with Mews, with the stock reaching its highest level since February.
- Pro Medicus (ASX: PME) +9.22% to $144.46 rallied after two contract wins helped ease concerns around AI-related competition.
- Software stocks were back in favour, with Xero (ASX: XRO) +7.69% to $80.95 and WiseTech Global (ASX: WTC) +8.72% to $39.15 both posting strong gains.
- DroneShield (ASX: DRO) −8.55% to $3.10 slumped after receiving a first strike on its remuneration report, with more than 50% of shareholders voting against management’s pay proposals.
- Syrah Resources (ASX: SYR) +16.16% to 11.5c jumped after resolving its offtake dispute with Tesla, with the EV giant accepting that alleged default conditions had been remedied.
- Lendlease (ASX: LLC) −5.51% to $2.57 fell after agreeing to sell development rights in the Milano Santa Giulia project in Italy for around $250m as part of its ongoing capital recycling strategy.
- ResMed (ASX: RMD) -7.58% to $26.57 was hit after reporting 3Q26 results on Friday night in the US – they were largely inline with consensus – need to look further into this one.
- Pilbara Minerals (ASX: PLS) +4.33% to $6.74 led gains across the lithium sector as lithium prices continued their recent recovery, while BHP Group (ASX: BHP) +0.27% to $62.48 and Rio Tinto (ASX: RIO) +1.55% to $188.51 were also firmer on the back of stronger base metals.
- Coal names continued their recent strength, with Whitehaven Coal (ASX: WHC) +2.97% to $9.01 and NewHope Corp (ASX: NHC) +1.37% to $5.92 both gaining after another mining accident in China raised more concerns around supply disruptions.
- Ventia Services (ASX: VNT) +1.77% to $6.32 edged higher after securing a five-year contract extension worth approximately $133m at the Australian Marine Complex in Western Australia.
- Cettire (ASX: CTT) +25.53% to 29.5c surged after announcing a strategic partnership in China, with investors betting the agreement could materially expand the luxury retailer’s addressable market.
- Oil (WTI): ~US$90.00/barrel / +3%
- Gold: US$4,504/oz / -0.8%
- Iron Ore: ~US$104.75mt – 0.6%
- Asian Markets: China –0.36%, Hong Kong +0.70%, Nikkei +0.75%
- Global Futures: S&P500 E-Mini +0.27, Dow E-Mini +0.05%, FTSE –0.26%
