Author Archives: Atchison

Australian market hits new high
The Australian sharemarket extended its record-setting run, with the S&P/ASX 200 Index (ASX: XJO) rising 0.2 per cent to close at 8959.30, reaching its fifth all-time high in just over a week. A robust start to the earnings season helped fuel gains, with about half of reporting companies beating expectations, according to UBS. The market, however, showed signs of caution, as UBS noted that while upgrades slightly outpaced downgrades, the scale of revisions painted a less optimistic picture.

Banks lead while materials weigh
The banking sector provided a lift, with National Australia Bank Limited (ASX: NAB) jumping 2.7 per cent to $40.23 despite warning of higher operating expenses. Commonwealth Bank of Australia (ASX: CBA) rebounded 1.2 per cent to $170.19 following recent losses, while Westpac Banking Corporation (ASX: WBC) added 0.7 per cent and Australia and New Zealand Banking Group Limited (ASX: ANZ) slipped 1.5 per cent. On the downside, materials lagged due to weaker iron ore prices, dragging shares of BHP Group Limited (ASX: BHP), Rio Tinto Limited (ASX: RIO), and Fortescue Metals Group Limited (ASX: FMG) lower. BlueScope Steel Limited (ASX: BSL) fell 3.1 per cent after posting a sharp profit decline. Among movers, Lendlease Group (ASX: LLC) surged 6.7 per cent on a return to profitability, REA Group Limited (ASX: REA) rose 4.5 per cent on a CEO appointment, and DigiCo Infrastructure REIT (ASX: DGI) sank 14.1 per cent after slightly missing earnings expectations.

Global markets steady ahead of Fed
US markets remained near flat, with the S&P 500 Index (NYSE: SPX) and the Nasdaq Composite Index (NASDAQ: IXIC) showing little change, while the Dow Jones Industrial Average (NYSE: DJI) dipped 0.1 per cent. Attention has turned to upcoming earnings from major US retailers and Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, which investors hope will offer clues on future rate cuts. Markets are anticipating a potential rate reduction in September, with the Fed’s July meeting minutes set for release midweek. In geopolitical developments, former President Donald Trump met with Ukraine’s President Zelensky and European leaders after talks with Russian President Putin, while Intel Corporation (NASDAQ: INTC) fell 3.7 per cent following news of potential White House involvement in the company.

ASX retreats as banks and materials weigh on sentiment
The Australian share market experienced its steepest one-day drop since May, as investor sentiment soured on the back of persistent US inflation and renewed tariff concerns. The S&P/ASX 200 Index (ASX: XJO) declined by 0.8 per cent to close at 8561.80, retreating from record highs. Market analyst Tony Sycamore from IG Group Holdings plc (LON: IGG)cautioned that a further slip below the 8530–8510 range could trigger a deeper correction toward the 200-day moving average near 8250. Banks led the downturn, with National Australia Bank Limited (ASX: NAB) sliding 3.4 per cent despite internal board support for its CEO. Westpac Banking Corporation (ASX: WBC), Commonwealth Bank of Australia (ASX: CBA), and Australia and New Zealand Banking Group Limited (ASX: ANZ) also posted losses.

Materials and healthcare sectors under pressure
Market sentiment extended into the materials and healthcare sectors. Analysts from Citigroup Inc. (NYSE: C) advised caution on iron ore gains, suggesting speculative Chinese demand rather than strong fundamentals. Despite this, iron ore futures edged higher in Singapore, helping Rio Tinto Limited (ASX: RIO) close 0.2 per cent higher following robust Q2 production data. BHP Group Limited (ASX: BHP) fell 0.7 per cent, while CSL Limited (ASX: CSL) dropped 1.3 per cent amid renewed tariff threats on pharmaceuticals. Among individual movers, Megaport Limited (ASX: MP1) surged 6.3 per cent after a Macquarie upgrade. Iluka Resources Limited (ASX: ILU) added 4.3 per cent, boosted by a bullish outlook and industry developments. On the downside, Newmont Corporation (NYSE: NEM) fell 5.7 per cent after a leadership change and asset sales, while South32 Limited (ASX: S32) and Evolution Mining Limited (ASX: EVN) also posted notable declines.

Global markets remain cautious amid mixed signals
US markets showed caution as traders digested remarks from President Donald Trump and the latest Beige Book report highlighting persistent economic uncertainty. US producer prices were flat in June, while annual wholesale inflation eased to 2.3 per cent – its lowest since September. In corporate news, Tesla Inc. (NASDAQ: TSLA) is set to launch a six-seat version of its Model Y in China to regain competitive edge, and Johnson & Johnson (NYSE: JNJ) beat earnings expectations and raised its guidance despite industry headwinds. Meanwhile, ASML Holding N.V. (NASDAQ: ASML) CEO Christophe Fouquet trimmed sales growth projections for 2026 due to ongoing trade tensions and geopolitical uncertainties.

Tech and healthcare lead ASX to fresh highs

The Australian sharemarket climbed to a new record on Tuesday, driven by strong performances in the technology and healthcare sectors. The S&P/ASX 200 Index (ASX: XJO) gained 59.9 points, or 0.7 per cent, to close at 8630.3, with ten of the eleven sectors in positive territory. A strong GDP reading from China and optimism around trade talks helped fuel investor confidence. The tech sector followed gains in US Nasdaq futures, buoyed by NVIDIA Corporation (NASDAQ: NVDA)‘s announcement to resume AI chip sales to China. Standout performers included WiseTech Global Limited (ASX: WTC), Xero Limited (ASX: XRO), Life360 Inc. (ASX: 360), and Appen Limited (ASX: APX).

Iron ore slide hits miners despite broader rally

Healthcare names added momentum to the rally, with CSL Limited (ASX: CSL) and Pro Medicus Limited (ASX: PME) both posting notable gains. The major banks, including Commonwealth Bank of Australia (ASX: CBA) and Macquarie Group Limited (ASX: MQG), also saw gains. However, the materials sector lagged, pressured by a decline in iron ore prices after Chinese housing data revealed a continued slide in new home prices. This weighed on mining heavyweights BHP Group Limited (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO). In corporate news, Hub24 Limited (ASX: HUB) jumped following strong fund inflow data, while Tyro Payments Limited (ASX: TYR) slumped on news of upcoming regulatory changes.

Global markets react to inflation and earnings

International markets closed mixed as investors weighed hotter-than-expected US inflation data and corporate earnings. The S&P 500 Index (NYSE: SPX) fell 0.4 per cent, the Dow Jones Industrial Average (NYSE: DJI) dropped 436 points or 1 per cent, while the Nasdaq 100 Index (NASDAQ: NDX) edged up 0.1 per cent near record levels, boosted by a 4 per cent jump in NVIDIA Corporation (NASDAQ: NVDA). The US Consumer Price Index rose 0.3 per cent month-on-month and 2.7 per cent year-on-year, intensifying concerns over potential inflationary pressures from proposed tariffs by President Trump. Among major banks, Wells Fargo & Co. (NYSE: WFC) and JPMorgan Chase & Co. (NYSE: JPM) declined after mixed results, while Citigroup Inc. (NYSE: C) advanced on strong earnings and a share buyback announcement.

ASX dips slightly as banks drag index

The Australian sharemarket edged lower on Monday, with the S&P/ASX 200 Index (ASX: XJO) slipping 9.7 points or 0.1 per cent to 8570.4, while the All Ordinaries Index (ASX: XAO) also eased 0.1 per cent to 8815.3. The decline was led by losses in the industrials and banking sectors, with Commonwealth Bank of Australia (ASX: CBA) down 0.4 per cent, while Westpac Banking Corporation (ASX: WBC)and Australia and New Zealand Banking Group Limited (ASX: ANZ) also ended the day lower. Tech stocks followed suit, with Zip Co Limited (ASX: ZIP) falling 2.8 per cent, Appen Limited (ASX: APX)down 3.2 per cent, and Block Inc (ASX: SQ2) dropping 5.3 per cent.

Gold and mining stocks lift amid tariff tensions

Gold miners on the ASX rallied in response to renewed tariff threats from US President Trump, which boosted demand for gold. Northern Star Resources Limited (ASX: NST) rose 1.7 per cent, Evolution Mining Limited (ASX: EVN) climbed 1.9 per cent, and Newmont Corporation (ASX: NEM) added 1.7 per cent. Rising iron ore prices also benefited mining heavyweights, with BHP Group Limited (ASX: BHP) up 0.9 per cent, Rio Tinto Limited (ASX: RIO) gaining 0.6 per cent, and Mineral Resources Limited (ASX: MIN) firming 1.5 per cent. Notable corporate moves included DroneShield Limited (ASX: DRO) surging 17 per cent on expansion plans, Abacus Storage King (ASX: ASK) jumping 5.8 per cent on a takeover offer, and Hansen Technologies Limited (ASX: HSN) rising 10.9 per cent on upgraded earnings guidance.

Global markets steady as tariffs loom

US markets closed slightly higher on Monday despite fresh tariff announcements from President Trump, who plans to implement 30 per cent duties on goods from the EU and Mexico starting August 1. The S&P 500 Index (NYSEARCA: SPY) edged up 0.1 per cent, the Dow Jones Industrial Average (INDEXDJX: DJI) rose by 88 points, and the Nasdaq Composite Index (NASDAQ: IXIC) gained 0.3 per cent, supported by strength in tech giants such as Meta Platforms Inc (NASDAQ: META) and Netflix Inc (NASDAQ: NFLX). Investors are awaiting key second-quarter earnings reports from banks like JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC), alongside the upcoming US CPI data for June. Among mega-cap names, Tesla Inc (NASDAQ: TSLA) rose 1 per cent after Elon Musk announced a shareholder vote on the company’s investment in xAI.

ASX closes lower despite iron ore rebound; BHP and Rio Tinto extend gains, Johns Lyng jumps on takeover

The local market briefly broke through the 8,600 point level on Friday, only to finish 9 points lower, as the S&P/ASX 200 Index (ASX: XJO) closed down 0.1 per cent. The weakness was due to another barrage of tariff announcements from Trump: a plan to levy every trading partner a tariff of 15 to 20 per cent, and 35 per cent on Canadian imports. The result was a 0.3 per cent decline for the week. The materials sector was the standout as Rio Tinto Limited (ASX: RIO) gained 2.3 per cent and BHP Group Limited (ASX: BHP) 2.8 per cent, as Chinese stimulus hopes grow. BHP has climbed more than 10 per cent in the last three weeks, and Fortescue Metals Group Limited (ASX: FMG) an impressive 17 per cent. Engineering group Johns Lyng Group Limited (ASX: JLG) was the ultimate standout as the company agreed to a $1.3 billion deal that will see it sold to Pacific Equity Partners for $3.90 per share, with the stock up 22 per cent on the news. Ventia Services Group Limited (ASX: VNT) fell close to 2 per cent despite the company increasing the scope of its agreement with the NBN by nearly $300 million.

Markets stall on tariff talk, but historical trends signal upside; Tesla expands to India, Ferrero makes $3.1 billion play

The Dow Jones Industrial Average (INDEXDJX: DJI) fell 0.6 per cent, while the S&P 500 Index (NYSE: SPX) slipped 0.3 per cent from an all-time high as tariff rhetoric intensified once again. A rally that saw five record highs in nine trading days showed signs of reversing amid the threat of a 35 per cent tariff on key Canadian imports. Kraft Heinz Company (NASDAQ: KHC), known for its ketchup, rose more than 2 per cent as management flagged plans to sell off parts of the slowing global business, while Bitcoin hit another all-time high as index and ETF providers continue to enter the market. Five of the Magnificent Seven gained, including Tesla Inc (NASDAQ: TSLA), which climbed more than 1 per cent after the company confirmed the opening of its first Indian store and the intention to start deliveries sooner rather than later. According to analysis, any time the S&P 500 Index (NYSE: SPX) increases more than 20 per cent in two months or less, it has been consistently higher 12 months later, and by an average of 15 per cent. Ferrero International, the Italian food brand, has shocked the market in a deal to buy US giant WK Kellogg for USD 3.1 billion, a premium of 31 per cent to the closing price.

Asx wins on iron ore gains, China growth surprise, healthcare sold on Trump risk

The local market managed another positive day, as yesterday’s losers became today’s winners. The healthcare and tech sectors were the weakest, falling 0.5 and 0.4 per cent respectively, while materials gained strongly, adding 1.2 per cent. The biggest driver was a stronger-than-expected result from the Chinese manufacturing sector, which supported iron ore prices and boosted the likes of BHP Group Limited (ASX: BHP) to solid gains, adding more than 1 per cent. The banking sector also resumed its positive trend, with both Commonwealth Bank of Australia (ASX: CBA) and National Australia Bank Limited (ASX: NAB) rallying strongly despite the Reserve Bank of Australia (RBA)’s decision to hold rates. Gold miners also supported the materials sector, with prices hitting US$3,330 per ounce once again, and Evolution Mining Limited (ASX: EVN) gaining close to 4 per cent. Lifestyle Communities Limited (ASX: LIC)posted a rebound, gaining over 9 per cent after a difficult week for the retirement living group.

Telix to avoid tariff hit, CSL under pressure, Imricor smashed on FDA delays

Healthcare technology company Pro Medicus Limited (ASX: PME) has continued its recent charge, adding more than 1 per cent and moving beyond 320 dollars per share once again. This comes amid growing concern of US tariffs and their potential impact on Australian healthcare leaders. CSL Limited (ASX: CSL) was weaker, falling 0.8 per cent, as concerns about the impact of a 200 per cent tariff by the US continue to linger. Shares in cardiac catheter group Imricor Medical Systems Inc (ASX: IMR) were among the weakest performers, with the shares dropping 15 per cent after the company announced a delay in expected US FDA approvals. Telix Pharmaceuticals Limited (ASX: TLC), on the other hand, stands out as a company likely to be exempt from the changes and has been a short-term beneficiary.

S&P 500 rallies to record, Apple, Tesla gain, NVIDIA chief meets Trump

The S&P 500 Index (NYSE: SPX) rallied to another all-time high overnight, gaining 0.3 per cent as the surge in mega-cap tech continued. Tesla Inc (NASDAQ: TSLA) posted a 4 per cent gain after the company flagged plans to expand its Robotaxi service to two more cities. Apple Inc (NASDAQ: AAPL) moved higher, boosting the NASDAQ Composite Index (NASDAQ: IXIC) to a 0.1 per cent gain, after the company disclosed it was planning on a massive rollout of new iPhones, iPads, and Macs. NVIDIA Corporation (NASDAQ: NVDA) remained above US$4 trillion, with CEO Jensen Huang meeting with President Donald Trump ahead of a planned visit to China in the coming days, while JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon warned that markets appear to be ‘complacent’ with tariffs and that a deal between the US and Europe ‘needs to get done’.

All ords weakens as mining threats spread, Paladin sinks, copper miners hit

The local market continued a negative start to the financial year, falling 0.6 per cent on Wednesday as just four of the market’s 11 sectors posted a gain, led by the utilities sector, which added 1.1 per cent on continued strength in Origin Energy Limited (ASX: ORG). Among the biggest detractors was the materials sector, falling 1.3 per cent, as the threat of 200 per cent tariffs on copper exports to the US sent the likes of Sandfire Resources Limited (ASX: SFR) and Evolution Mining Limited (ASX: EVN) down 3 and 7 per cent respectively. This was despite analysts confirming that the companies export little product to the US and thus their revenue was unlikely to be impacted by the proposed changes. Paladin Energy Limited (ASX: PDN) led uranium miners lower by more than 8 per cent as energy weakness continues to spread. While explosives maker Orica Limited (ASX: ORI) bounced after the company confirmed Vik Bansal, previous CEO of Boral Limited, would be taking over as Chairman of the company amid more challenging conditions ahead.

Lifestyle Communities in disarray, Telix jumps on insurance deal, Bega shuts down peanut ops

Retirement communities group Lifestyle Communities Limited (ASX: LIC) saw its share price plunge at the open, ultimately finishing 37 per cent lower after a tribunal decision found its lucrative deferred management fees, otherwise known as exit fees, were invalid under state laws, likely impacting revenue significantly. Shares in BHP Group Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) fell slightly, down 1 and 0.6 per cent respectively, as the iron ore price remained volatile and expectations grew that their jointly owned Chilean copper mine may be hit by the planned tariffs. Telix Pharmaceuticals Limited (ASX: TLX) jumped by more than 5 per cent as the group’s prostate imaging agent was granted permanent insurance coverage by the US Medicare system, in big news for the company. Meanwhile, Bega Cheese Limited (ASX: BGA) is finally shutting down its peanut processing centre in Australia, with the asset losing up to 10 million dollars per year in recent years.

NVIDIA tops US$4 trillion, Asia stocks to rally, tech boom returns

The latest tariff letters weren’t enough to dampen a renewed rally in big tech shares, with NVIDIA Corporation (NASDAQ: NVDA) becoming the first company to reach a US$4 trillion valuation overnight, rallying 20 per cent so far this year. The chipmaker also pushed the mega cap index 1 per cent higher, with the S&P 500 Index (NYSE: SPX) and Dow Jones Industrial Average (INDEXDJX: DJI) both posting a 0.6 per cent gain. Donald Trump announced a new group of tariffs including 50 per cent on large exporter Brazil, while citing political issues as a reason for the aggressive approach. The Federal Reserve Board remains mixed on whether the tariffs will have an impact on inflation, with this the key reason behind the latest rate hold.

Rate cut hopes dashed, ASX flat on RBA hold, property sinks behind Mirvac

The local market finished flat, with the ASX All Ordinaries Index (ASX: XAO) managing a gain of just 2 points on Tuesday. Strength in the defensive communication and financial sectors, led by an end to Commonwealth Bank of Australia (ASX: CBA)’s losing streak, which added 0.8 per cent, were enough to offset a sell-off in the property, utilities, and consumer staples sectors, the latter two both falling by more than 1 per cent. The likes of Mirvac Group (ASX: MGR) and shopping centre owner Scentre Group (ASX: SCG) were down more than 1 per cent each as the Reserve Bank of Australia (RBA) made the shock call to hold interest rates at 3.85 per cent. This was despite expectations from across the industry, including more than three-quarters of economists, who predicted at least a 25 basis point cut. The RBA blamed ‘volatile’ monthly inflation data and suggested that inflation would need to be ‘nailed’ before rates would be cut again. They did, however, make it clear that rates will be lower at some point in the future.

Platinum-L1 merger deal terms out, Kraken to add $2 to Origin, gold rally re-emerges

In positive news for shareholders, the separation of Octopus Energy’s Kraken platform is likely to add as much as 2 dollars per share to Origin Energy Limited (ASX: ORG)’s value as the UK-based company goes from strength to strength. Shares fell 1 per cent despite the news. Platinum Asset Management Limited (ASX: PTM) managed to post a 3 per cent gain after the company confirmed it had agreed on terms with L1 Capital for a merger that would take the combined business to 16.5 billion dollars. Platinum will acquire L1’s shares, and in consideration they will pay with PTMshares, with L1 to own 74 per cent of the combined entity after the deal. Performance fees will be split between shareholders. Regis Resources Limited (ASX: RRL) managed a 3.6 per cent gain as President Trump’s latest tariff announcements pushed investors back into the safe haven asset. Crypto firm DigitalX Limited (ASX: DCC) gained 34 per cent after confirming a 20 million dollar share placement with global crypto firms.

S&P 500, Dow Jones slip as tariff threats return, Tesla gains, copper surges

US markets were broadly flat, with the Dow Jones Industrial Average (INDEXDJX: DJI) dropping 0.4 per cent while the S&P 500 Index (NYSE: SPX) lost marginally and the NASDAQ Composite Index (NASDAQ: IXIC) gained, following a 1 per cent gain from Tesla Inc (NASDAQ: TSLA). All eyes are back on President Trump, who has threatened new tariffs across the globe, but with a particular focus on Asia, where we may see greater volatility in coming weeks. The price of copper in the US gained 13 per cent after he announced a potential 200 per cent tariff on imports in an attempt to protect local buyers and producers. Despite suggestions of the opposite, Europe may be facing a hike in tariffs as negotiations have stalled and the bloc continues to charge large US tech firms for multiple law breaches.

ASX stalls ahead of RBA rate decision, Origin surges on UK deal, materials sink

The local bourse posted a 0.2 per cent loss on Monday, with the S&P/ASX 200 Index (ASX: XJO) dragged lower by weakness across the retailing and materials sectors, with both falling by 0.8 per cent. It was news from gold miner Northern Star Resources Limited (ASX: NST) that production would be at the lower end of forecasts that had the biggest impact, with shares falling 8.7 per cent on the news. This was worsened by a weakening in the iron ore price, which sent BHP Group Limited (ASX: BHP) around 0.3 per cent lower. On the positive side was a strong rally in the utilities sector, gaining 3.5 per cent, as Origin Energy Limited (ASX: ORG) gained close to 7 per cent on corporate news. The company is a major shareholder in UK energy tech company, Octopus Energy, which over the weekend confirmed intentions to hive off its technology platform Kraken, in a deal that could value the business at 10 billion dollars.

South32 lower as deal nears, MinRes falls despite board change, Hub24 jumps on broker upgrade

Diversified miner South32 Limited (ASX: S32) fell 0.6 per cent as the company flagged the sale of its Cerro Matoso nickel mine to venture partner Core X following a review of growing structural challenges in the nickel market. The group is focused on cleaning up non-core assets as higher costs and lower prices spread across the market. Super platform HUB24 Limited (ASX: HUB) managed a 2.8 per cent gain as broker UBS upgraded its outlook for the company as assets under administration continue to flow, and grow as share markets perform strongly. CSL Limited (ASX: CSL)rallied more than 2 per cent amid a renewed search for defensive earnings, while Mineral Resources Limited (ASX: MIN) reversed a 2 per cent gain to finish close to 2 per cent lower, despite the addition of two new independent directors to the under-pressure company’s board. The market is awaiting an RBA rate decision tomorrow afternoon, with economists predicting another 0.25 per cent cut as a near certainty.

Trump tariffs return, S&P 500 sinks, Tesla as Musk launches party

The US share market fell from its all-time high overnight as Donald Trump’s tariffs returned with a vengeance. The S&P 500 Index (NYSE: SPX) was down 1 per cent and the NASDAQ Composite Index (NASDAQ: IXIC) 0.9 per cent as Trump announced a round of tariffs following the expiry of the previous moratorium. A 25 per cent tax will be levied on Japan and South Korea, along with 30 per cent on South Africa; however, positively, the Euro Area was excluded as negotiations continued amid suggestions a 10 per cent cap will be applied. Tesla Inc (NASDAQ: TSLA) sank 7 per cent after Elon Musk announced his intention to start his own political party, worrying investors about a further distraction as the company continues to struggle growing sales. CoreWeave Inc (NYSE: CRWC) has spent 9 billion US dollars on the acquisition of Core Scientific, as it seeks to take greater ownership of AI and computing power-driven assets. Apple Inc (NASDAQ: AAPL) is also appealing a fine of 580 million US dollars regarding recent changes to the App Store in Europe.

CBA sell-off weighs on local market

The Australian sharemarket posted its sharpest one-day decline in two weeks, dragged lower primarily by a sell-off in Commonwealth Bank of Australia (ASX: CBA). The S&P/ASX 200 Index (ASX: XJO) fell 53.70 points to close at 8827.10, a drop of 0.6 per cent after touching a record high at the open. The decline followed a rate cut by the Reserve Bank of Australia and softer US inflation data, which bolstered global rate cut expectations. CBA shares dropped 5.4 per cent to $169.12 despite reporting a $10.25 billion cash profit, as investors balked at its valuation near 30 times forward earnings. The weakness spread across the banking sector, with National Australia Bank Limited (ASX: NAB) down 2.6 per cent, Westpac Banking Corporation (ASX: WBC) off 2.1 per cent, and Australia and New Zealand Banking Group Limited (ASX: ANZ) finishing 0.2 per cent lower.

Rotation to healthcare and miners cushions broader losses

Investors shifted into defensives, with healthcare and mining sectors providing some support to the broader index. CSL Limited (ASX: CSL) climbed 2 per cent and Clarity Pharmaceuticals Limited (ASX: CU6) rose 5.3 per cent. Miners gained on the back of strong iron ore prices, with Fortescue Metals Group Limited (ASX: FMG) up 1.4 per cent, BHP Group Limited (ASX: BHP) rising 1.1 per cent, and Rio Tinto Limited (ASX: RIO) gaining 1 per cent. Meanwhile, AGL Energy Limited (ASX: AGL) slumped 13.1 per cent following a 21.2 per cent drop in core profit. Treasury Wine Estates Limited (ASX: TWE) added 1.2 per cent after lifting its dividend and announcing a share buyback. Insurance Australia Group Limited (ASX: IAG)slipped 0.1 per cent despite strong profit growth, while Tyro Payments Limited (ASX: TYR) surged 11.5 per cent on takeover interest.

Global rally sustained by rate cut hopes and Chinese momentum

Globally, equity markets extended gains as expectations grew for a September rate cut by the Federal Reserve, following soft US inflation data. The S&P 500 Index (NYSE: SPX) rose 0.3 per cent, the Nasdaq Composite Index (NASDAQ: IXIC) added 0.1 per cent, and the Dow Jones Industrial Average (NYSE: DJI) climbed 463 points. Gains were led by materials, healthcare, and consumer cyclicals, with Advanced Micro Devices Inc. (NASDAQ: AMD) jumping 5.4 per cent and Paramount Skydance surging 36.7 per cent. Meanwhile, China’s stock market continued its steady rebound, with the CSI 300 Index (SHA: 000300) up 16 per cent from April lows amid high liquidity and retail investor optimism, despite no major economic stimulus announcements from Beijing.