Hello and welcome to The ASX Today, I’m Seja Al Zaidi. There were no grand fireworks on the index today, but plenty was still happening beneath the surface as investors Down Under waded into Week 26 proper.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The ASX 200 spent most of the morning bouncing before settling flat, with investors keeping one eye firmly fixed on tomorrow’s inflation report.
Financials were today’s winners. Macquarie led the charge, +1.6%, while National Australia Bank climbed +1.1%. ANZ, Commonwealth Bank and Westpac also posted solid gains as money rotated back into the major banks.
Tech wasn’t so lucky. One of the sector’s most controversial characters, Richard White, is responsible for today’s -1.5% fall in WiseTech’s share price. The WiseTech founder and chairman is at the centre of a massive Australian Federal Police investigation into claims of trafficking and sexual exploitation. Today’s developments of the saga only served to extend the stock’s weak performance.
Mining stocks were a little mixed. BHP did manage a modest gain, and Rio traded flat, but gold miners struggled as bullion slipped. Northern Star lost -2.9%, Regis Resources fell -2.1%. Energy also drifted lower as Brent crude hovered ~US$78 a barrel. Woodside slipped -0.8%, while Viva Energy dropped -3.1% after revealing its Geelong refinery will not return to more than 90% operating capacity.
In company news, Reliance fell -2.5% after announcing the closure of its brass casting and machining operations in Melbourne, with around 85 jobs expected to be affected. And, Iluka Resources tumbled more than -10%, despite securing its first binding rare earths offtake agreement with a global automaker.
Lynas Rare Earths also weakened after Malaysian regulators requested an updated environmental impact assessment for its expansion plans. On the positive side, Stockland edged higher after reaffirming its full-year distribution guidance and outlining an estimated second-half payout of more than 16cps.
And in a notable WA deal, Woodside signed a new agreement to supply Alcoa with 31.1 petajoules of domestic gas to CY30, extending a long-running partnership.
Finally, we’re watching a pretty massive takeover story unfold. Citi says Atlas Arteria’s takeover defence is now firmly in play after IFM Investors lifted its stake towards 50%. Atlas has boosted its FY26 distribution guidance by 50% to support shareholder returns, while Citi believes investor feedback suggests the current $7.4 billion offer is largely unlikely to succeed without an improved bid.
That’s The ASX Today. Thanks for watching, and I’ll see you tomorrow.
Join the discussion: See what HotCopper users are saying and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
