A weaker session today as Copper tariff news created some volatility amongst the resources, gold stocks were weak, while rate sensitive areas like property felt the pinch from the RBA reticence to cut rates yesterday.
No trade in the US on Friday night (Independence Day), so a quiet session to kick things off locally ahead of some key data points this week. The RBA should cut rates tomorrow which would be their first back-to-back move in 6-years, while we await the tariff deadline in the U.S on Wednesday night.
A quiet end to a solid week for stocks, chalking up a positive move to kick off FY26. The FY25 trend of buying certainty at any price has taken a (slight) knock, with sectors and stocks representing better value attracting more flows this week.
The sector/stock divergence that we’ve been highlighting recently stepped up a notch today as BHP outperformed CBA by more than 7% while there was some big moves in some of the beaten down commodities in particular following positive trends overseas.
Some volatility on the stock level hit today, with Dominos whacked as the new CEO resigns, Helius lost another big customer and fell ~20% while UBS scattered a couple of Tom Thumbs in the wealth/funds management sector, taking a more favorable stance – a topic we’ll look at tomorrow morning. By the close, the market was back testing 8600, some 80 points above the midday low, and the bullish vibe has now hit July!
A lacklustre first trading session of FY26 with the index trying to push higher early but faltering before the closing bell. All those itching to sell CBA can now do so without paying tax for a while prompting some re-allocation amongst the banks - ANZ the standout today up +2.5% while CBA fell by 1.2%. It was fairly quiet elsewhere.
A solid final trading session for the financial year was underpinned by strength in the banks early after their U.S counterparts passed financial regulator stress testing with flying colours overnight, though it wasn’t to last with the move reversing through the session.
The day kicked off with a promising +50pt open though it was short-lived as a steady rotation from the banks to resources swept through the market after a supposed resolution to US-China trade negotiations was reached triggering a –90pt swing from start to finish as we closed at the low of the day.
A very quiet session for Aussie stocks today, though the recent trend continued with buying of weakness, although the dip was only small this morning. Xero (XRO) came back online post cap raise, down ~9% early but saw strong buying during the session to recover 50% of its loses.
No trade in the US on Friday night (Independence Day), so a quiet session to kick things off locally ahead of some key data points this week. The RBA should cut rates tomorrow which would be their first back-to-back move in 6-years, while we await the tariff deadline in the U.S on Wednesday night.
A quiet end to a solid week for stocks, chalking up a positive move to kick off FY26. The FY25 trend of buying certainty at any price has taken a (slight) knock, with sectors and stocks representing better value attracting more flows this week.
The sector/stock divergence that we’ve been highlighting recently stepped up a notch today as BHP outperformed CBA by more than 7% while there was some big moves in some of the beaten down commodities in particular following positive trends overseas.
Some volatility on the stock level hit today, with Dominos whacked as the new CEO resigns, Helius lost another big customer and fell ~20% while UBS scattered a couple of Tom Thumbs in the wealth/funds management sector, taking a more favorable stance – a topic we’ll look at tomorrow morning. By the close, the market was back testing 8600, some 80 points above the midday low, and the bullish vibe has now hit July!
A lacklustre first trading session of FY26 with the index trying to push higher early but faltering before the closing bell. All those itching to sell CBA can now do so without paying tax for a while prompting some re-allocation amongst the banks - ANZ the standout today up +2.5% while CBA fell by 1.2%. It was fairly quiet elsewhere.
A solid final trading session for the financial year was underpinned by strength in the banks early after their U.S counterparts passed financial regulator stress testing with flying colours overnight, though it wasn’t to last with the move reversing through the session.
The day kicked off with a promising +50pt open though it was short-lived as a steady rotation from the banks to resources swept through the market after a supposed resolution to US-China trade negotiations was reached triggering a –90pt swing from start to finish as we closed at the low of the day.
A very quiet session for Aussie stocks today, though the recent trend continued with buying of weakness, although the dip was only small this morning. Xero (XRO) came back online post cap raise, down ~9% early but saw strong buying during the session to recover 50% of its loses.
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