S&P/ASX 200

Australian Shares Flat; Fortescue Flags $750 Million Impairment Charge on Iron Bridge Project

Australian shares were flat on Friday, with a positive bias, as investors reacted to optimism around artificial intelligence after tech giants posted their earnings and forecast updates.The S&P/ASX 200 Index was little changed to close at 8,976.80.Brent crude oil futures fell around 2% to trade around $87 per barrel amid signs of continuing tanker traffic through the critical Strait of Hormuz.Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rallied 1.7%, 2.8%, and 1.2%, respectively.On the domestic front, Australia's producer prices, excluding exports, increased 1.3% in the June quarter, following a 0.4% rise in the March quarter, according to data from the Australian Bureau of Statistics.Australia's total private sector credit recorded an 0.8% month-on-month increase and an 8.5% year-on-year rise in seasonally adjusted terms in June, according to Reserve Bank figures.In company news, Fortescue (ASX:FMG) expects to book a non-cash impairment charge of around $750 million before tax and about $525 million after tax on its Iron Bridge project in fiscal year 2026, following a review of asset values under accounting standards and internal policies.Mayne Pharma Group (ASX:MYX) said its fiscal year 2026 revenue came in at AU$383.7 million, down 6% year on year from AU$408.1 million. Its underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) for the fiscal year came in at AU$31.7 million, dropping 33% from the AU$47 million reported in the prior year.Lastly, Advanced Innergy Holdings (ASX:AIH) said that its fiscal year 2026 revenue is forecast to come in around 162 million pounds sterling, down 14% from its earlier guidance of 188 million pounds sterling, as risks to the guidance it earlier identified materialized with "the extended duration and recent escalation of the Middle East conflict." Its shares earlier reached an all-time low point, falling over 38%.

ASX Midday Sector Update: Materials Stocks Soar, Healthcare Sector Struggles

Materials stocks advanced nearly 2% at midday Friday.BHP Group (ASX:BHP) gained almost 2% in recent trade even after reports that the miner is facing another strike from members of three unions in Western Australia's Pilbara region who have decided to impose a 24-hour ship-loading ban on Aug. 8 and will also down tools on Aug. 9.On the flip side, the healthcare sector struggled, shedding more than 2%.CSL (ASX:CSL) shares fell past 4% in recent trade.

Australia's Total Private Sector Credit Delivers Marginal Month-on-Month Increase in June

Australia's total private sector credit recorded an 0.8% month-on-month increase and 8.5% year-on-year rise in seasonally adjusted terms in June, according to Reserve Bank figures released on Friday.Housing credit was up 0.6% month on month and 7.5% year on year, while personal credit delivered a 0.8% month-on-month increase and 4.7% year-on-year rise.Meanwhile, lending to non-financial businesses grew 1.1% month on month and about 11% year on year.

Australia's Producer Prices Rise in June Quarter

Australia's producer prices, excluding exports, increased 1.3% in the June quarter, following a 0.4% rise in the March quarter, according to data from the Australian Bureau of Statistics published Friday.The main drivers of quarterly growth were petroleum refining and petroleum fuel manufacturing, up nearly 38% due to higher oil prices following restricted oil flows through the Strait of Hormuz; property operators, up 1% on strong demand and higher residential rents; and heavy and civil construction, which rose 2.3% due to higher freight and product costs following the Strait of Hormuz closure, the report said.Selected producer price indexes rose across key sectors, including a 2.2% increase in manufacturing driven by petroleum and coal product manufacturing, a 1.4% rise in construction driven by house building, and an increase in transport, postal and warehousing services due to increased fuel prices.On an annual basis, final demand growth rose 3.6% in the year to the June quarter, up from a 3.4% increase a year earlier.

ASX Preview: Australian Shares to Rise on Gold Gains; Capstone Copper Q2 Adjusted Earnings, Revenue Up

Australian shares are poised to rise on Friday, supported by gains in gold prices and a weaker US dollar after easing inflation data reduced expectations for further Federal Reserve rate hikes.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.7%, 2.8%, and 1.2%, respectively.In the macroeconomy, Australia's producer price indexes data is due at 11:30 am Sydney time.In corporate news, Capstone Copper (ASX:CSC) reported Friday second quarter adjusted earnings of $0.13 per share on revenue of $739.7 million, compared with adjusted earnings of $0.04 on revenue of $543.2 million a year earlier.DPM Metals (ASX:DPM) reported Friday second quarter adjusted basic earnings of $0.95 per share on revenue of $361.5 million, compared with adjusted basic earnings of $0.52 on revenue of $186.5 million a year earlier.Australia's benchmark index fell 0.8%, or 70.9 points, to close at 8,967.70 on Thursday.

Australian Shares Retreat; Ampol Reports Higher H1 Profit, Says Queensland Refinery to Undergo Major Maintenance in August

Australian shares closed lower on Thursday, as investors reacted to fresh escalations in the conflict in the Middle East as well as the US Federal Reserve's monetary policy decision.The S&P/ASX 200 Index fell 0.78%, or by 70.90 points, to close at 8,967.70 after setting a new 100-day high.Brent crude oil futures fell to trade around $91 per barrel even as the US conducted fresh strikes against targets in Iran.The US Federal Reserve, under new Chair Kevin Warsh, kept monetary policy unchanged. Overnight on Wall Street, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.5%, 1.7%, and 2.2%, respectively.On the domestic front, Australia's export prices rose 1.1% in the June quarter following a 0.5% increase in the March quarter, while growth in import prices accelerated to 5.7% from 0.1%, data from the Australian Bureau of Statistics showed.The number of total dwellings approved in Australia in seasonally adjusted terms recorded an increase of 7.2% month on month to 18,328 in June and 8.9% year on year, according to figures from the Australian Bureau of Statistics.In company news, Ampol (ASX:ALD) said its first-half unaudited group replacement cost operating profit (RCOP) earnings before interest, taxes, depreciation, and amortization (EBITDA) clocked in around AU$1.6 billion, jumping from the AU$649 million reported in the prior-year period. It added that the Lytton refinery in Queensland will undergo major maintenance starting in August. Ampol's shares earlier hit an all-time high.Domino's Pizza Enterprises (ASX:DMP) reaffirmed its fiscal 2026 underlying profit after tax guidance of AU$118 million to AU$122 million despite expecting a statutory loss after booking around AU$300 million in mostly non-cash balance sheet write-downs.Lastly, National Australia Bank (ASX:NAB) said the business lending balances of its business and private banking (B&PB) division jumped 10% year over year to AU$180 billion in the June quarter from AU$165 billion.

Australian Small Business Sales Growth Slows in June Quarter as Consumer Spending Softens, Says Xero

Australian small business sales grew 6.5% year on year in the June quarter, down from 7.9% in the March quarter and just below the historical average, with interest rate-sensitive industries and those dependent on discretionary spending recording the smallest sales rises, according to a Thursday report by fintech company Xero.The report said real estate services grew 4.7% year on year, retail trade 3.4%, and hospitality 2.1%, while mining and utilities outperformed at 14% and 13%, respectively.The Australian Capital Territory was the softest state performer at 3.4%, followed by New South Wales at 6.1% and Victoria at 5.3%, while the Northern Territory was the strongest at 8.4% and Queensland second at 8.2%, likely helped by the mining industry, the report added.Jobs growth slowed slightly to 3% year on year from 3.3% in the March quarter, while wages rose a modest 2.4% year on year, slightly slower than the 2.7% rise in the March quarter, the report added.The average time small businesses waited to be paid after issuing an invoice fell to 22.9 days from 24.2 days in the March quarter, with businesses paid on average six days late, down from 6.9 days, according to the report.

Australia's Central Bank to Hold Cash Rate Steady Through 2026, CommBank Says

The Reserve Bank of Australia (RBA) will likely keep its cash rate steady at 4.35% in August and through the remainder of 2026 amid softer inflation and weakness in the jobs and housing markets, Commonwealth Bank of Australia said in a Thursday report."Currently there is little need to tighten further given the combination of data prints since June and our forecasts for the remainder of 2026," said CommBank Head of Australian Economics Belinda Allen.The forecast follows Australia's consumer price index rising 3.8% in the 12 months to June, decelerating from a 4% increase in the previous month and coming in below expectations.Meanwhile, the country's jobless rate stands at 4.4%, above the central bank's 4.2% forecast for the June quarter, and a broader measure of spare capacity in the jobs market is at its highest level since December 2021.CommBank forecasts two rate cuts in 2027, one each in May and August, and also warned of a potential rate increase in November this year if prices start rising faster again and growth does not slow as expected.

Total Dwellings Approved in Australia Rise in June

The number of total dwellings approved in Australia in seasonally adjusted terms recorded an increase of 7.2% month on month to 18,328 in June and 8.9% year on year, according to figures from the Australian Bureau of Statistics released on Thursday.The number of total dwellings approved in June 2025 was 17,076, an earlier release showed.Approvals for total dwellings showed mixed results in different states in June, with increases in Queensland, New South Wales, and Western Australia, whereas decreases were noted in Tasmania, Victoria, and South Australia.Private sector houses increased by 0.4% to 10,631 units in June after rising 2.4% in May, while private sector dwellings, excluding houses, saw a rise of almost 18% to 7,138 units after an 11% fall in May.Total residential building value grew past 15% to AU$11.75 billion, while total non-residential building value decreased by about 25% to AU$8.26 billion.

ASX Midday Sector Update: Information Technology Stocks Advance, Real Estate Sector Struggles

Information technology stocks advanced nearly 1% at midday Thursday.Xero (ASX:XRO) inched up in recent trade.Meanwhile, the real estate sector struggled, shedding more than 1%.Goodman Group (ASX:GMG) shares were down in recent trade.

Australia's Export, Import Price Growth Accelerates in June Quarter

Australia's export prices rose 1.1% in the June quarter following a 0.5% increase in the March quarter, while growth in import prices accelerated to 5.7% from 0.1%, data from the Australian Bureau of Statistics showed Thursday.The main contributors to the export price index rise include coal, coke, and briquettes, up 5.4%, a nearly 21% increase in crude fertilizers, and a 22.7% gain in petroleum and related products driven by continued tensions in the Middle East.A decline of 8.8% in non-monetary gold and a 1.4% fall in metalliferous ores and metal scrap provided some offset to export price growth, the data showed.Meanwhile, a more than 47% jump in petroleum and related products was the biggest contributor to import price gains as the closure of the Strait of Hormuz restricted global oil supply. Import prices for fertilizers excluding crude surged over 25%, driven by higher urea prices.Export prices rose 3.9% in the year-to-date through June, and import prices increased 6.2%.

ASX Preview: Australian Shares to Fall Amid Oil Surge, Fed Policy Uncertainty; Champion Iron Swings to Fiscal Q1 Loss, Revenue Down

Australian shares are poised to fall on Thursday as a surge in oil prices fuels inflation concerns and heightens worries over Middle East supply disruptions.Investors are also weighing uncertainty around US monetary policy after Federal Reserve Chair Kevin Warsh kept rates unchanged while signaling further tightening could be considered if inflation remains persistent.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.5%, 1.7%, and 2.2%, respectively.In the macroeconomy, Australia's building approvals and international trade price indexes data are due at 11:30 am Sydney time.In corporate news, Champion Iron (ASX:CIA) reported Thursday fiscal first quarter loss of CA$0.07 per share on revenue of CA$356.9 million, compared with profit of of CA$0.05 on revenue of CA$390 million a year earlier.Domino's Pizza Enterprises (ASX:DMP) reaffirmed its fiscal 2026 underlying profit after tax guidance of AU$118 million to AU$122 million despite expecting a statutory loss after booking around AU$300 million in mostly non-cash balance sheet write-downs.Australia's benchmark index rose 1%, or 90.8 points, to close at 9,038.60 on Wednesday.

Australian Shares Advance; Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue

Australian shares advanced further on Wednesday, as investors reacted to softer-than-expected June quarter inflation data, cutting expectations of a rate hike.The S&P/ASX 200 Index gained 1.01%, or 90.80 points, to close at 9,038.60, setting a new 100-day high.Brent crude oil futures rose to trade around $86 per barrel after the US military said Iran launched multiple ballistic missiles, which had been intercepted.Overnight on Wall Street, the Dow Jones Industrial Average rose 1% and the S&P 500 inched up 0.2%, while the Nasdaq Composite fell 0.2%.On the domestic front, Australia's consumer price index rose 3.8% in the 12 months to June from a 4% increase in the year to May. Trimmed mean annual inflation was 3.6% in the 12 months to June, unchanged from the 12 months to May.In company news, Rio Tinto Group (ASX:RIO) reported Wednesday that its underlying earnings per basic share in the first half rose to $4.214, from $2.96 a year earlier. Consolidated sales revenue for the six months ended June 30 was $31.03 billion, up from $26.87 billion in the same period last year.Woodside Energy Group (ASX:WDS) reported second-quarter operating revenue of $4.19 billion, up 28% from $3.28 billion a year earlier. The company's quarterly production volume hit 41.3 million barrels of oil equivalent (MMboe), down 18% from 50.1 MMboe in the year-ago period.Lastly, CSL (ASX:CSL) is set to conduct clinical trial work to confirm the efficacy and safety of immunoglobulin manufactured using its Horizon 2 process. It expects clinical activities to start in mid-2027.

Australia's Downside Inflation Surprise Removes Case for Rate Hike in August, Westpac Says

The Reserve Bank of Australia (RBA) is expected to deliver a hawkish interest rate hold at its August monetary policy meeting as inflation has been more benign than the central bank's forecast, Westpac said in a Wednesday report.Australia's consumer price index (CPI) rose 3.8% in the 12 months to June, moderating from a 4% increase in the previous month, with market services inflation and the all-important housing-related components both coming in below expectations."We no longer expect rate hikes by the RBA this year," Westpac said. "The substantial pass-through of higher energy costs seen in the early phase of the Middle East conflict has not been followed up in recent months."Westpac still expects the RBA to debate the case for a rate increase in August, noting that a risk of a hike in November still exists if inflation accelerates again in the third quarter, although this is not part of the bank's base case scenario.Additionally, the latest inflation print does not alter Westpac's forecast August 2027 timing for the central bank to start unwinding rate hikes implemented earlier this year, it said.

RBA Expected to Keep Rates Unchanged in August After Softer-than-Expected June Quarter Trimmed Mean Inflation Data, ANZ Says

The softer-than-expected June quarter trimmed mean inflation print of 0.8% should see the Reserve Bank of Australia (RBA) keep rates on hold at 4.35% at its August meeting, ANZ Research said in a note on Wednesday.Trimmed mean inflation was lower than expected at 3.6% on an annual basis, compared with the RBA's forecast of 3.8%. The central bank governor acknowledged the softening in economic activity in a speech on Tuesday.Australia's consumer price index (CPI) rose 3.8% in the 12 months to June from a 4% increase in the year to May. The largest contributor to annual inflation was housing, which rose 6.8%, followed by food and non-alcoholic beverages and recreation and culture, both up 3.3%.The RBA is forecast to ease rates by 50 basis points in the second half of 2027, ANZ said, adding that the risk of a rate hike in November remains.The monthly CPI showed signs that second-round passthrough is limited so far, with new dwelling costs increasing just 0.4% on a monthly basis in June after lifting 0.9% in May and 0.7% in April. The food group also recorded softer monthly growth in June at 0.4%.The lender concluded that there are signs that the demand environment is making it challenging for businesses to pass on higher costs to households.

ASX Midday Sector Update: Healthcare Stocks Lead Broad-Based Rally

Healthcare stocks jumped nearly 4%, leading a broad-based rally at midday Wednesday.CSL (ASX:CSL) gained almost 7% in recent trade following news that it will conduct clinical trial work to confirm the efficacy and safety of immunoglobulin manufactured using its Horizon 2 process.Meanwhile, the financial sector edged up nearly 1%.Commonwealth Bank (ASX:CBA) shares inched up in recent trade.

Australia's Inflation Increases 3.8% in Year to June

Australia's consumer price index (CPI) rose 3.8% in the 12 months to June from a 4% increase in the year to May, the Australian Bureau of Statistics reported Wednesday.The largest contributor to annual inflation was housing, which rose 6.8%, followed by food and non-alcoholic beverages and recreation and culture, both up 3.3%.Annual housing inflation was primarily driven by rising costs for electricity and new dwellings.Electricity remains a major driver of annual inflation, with prices over 22% higher than a year ago, largely due to the end of government rebates that had previously lowered household electricity bills, said Rachael McCririck, the bureau's head of prices statistics.Trimmed mean annual inflation was 3.6% in the 12 months to June, unchanged from the 12 months to May.Transport inflation eased notably, with the annual rate slowing to a 0.1% increase, compared with a 3.3% rise in May."Lower world oil prices as a result of some stabilization in the Middle East in June contributed to fuel prices falling 10.9% in the month," McCririck added.The CPI declined by 0.1% in seasonally adjusted terms during the month of June.

Australia's CPI Up 3.8% in Year to June, Trimmed Mean Inflation at 3.6%

ASX Preview: Australian Shares to Rise as Oil Slides on US-Iran Ceasefire Hopes; Rio Tinto Group Posts Higher H1 Underlying Earnings, Revenue

Australian shares are poised to rise on Wednesday, tracking a sharp drop in oil prices as hopes for a sustained pause in US-Iran hostilities eased concerns over global crude supply disruptions despite continued geopolitical uncertainty.Overnight, the S&P 500 and the Dow Jones Industrial Average rose 0.2% and 1%, respectively, while the Nasdaq Composite fell 0.2%.In the macroeconomy, Australia's consumer price index report is due at 11:30 am Sydney time.In corporate news, Rio Tinto Group (ASX:RIO) reported Wednesday first-half underlying earnings of $4.214 per basic share on revenue of $31.03 billion, compared with underlying earnings of $2.96 on revenue of $26.87 billion a year earlier.Woodside Energy Group's (ASX:WDS) operating revenue rose to $4.19 billion in the second quarter ended June 30 from $3.28 billion a year earlier.Australia's benchmark index rose 0.6%, or 53.8 points, to close at 8,947.80 on Tuesday.