ASX 200

Value of Australian New Payments Platform Transactions Rises in January, RBA Data Shows

The value of new payment platform transactions in Australia rose nearly 26% to AU$241.2 billion in March, compared with AU$186.6 billion reported in the same period last year, according to new retail payment figures from the Reserve Bank released Thursday.Total card purchases on Australian-issued cards were up 11.6% to AU$100.8 billion from AU$91 billion in March 2025, with credit and charge cards accounting for AU$40.9 billion and debit cards for AU$59.9 billion.Meanwhile, the number of new payment platform transactions was up 11.2% to 167.1 million from 151.9 million last year.The number of total card purchases on Australian-issued cards rose 6.6% to 1.41 billion from 1.34 billion in the year prior.

ASX Midday Sector Update: Materials Stocks Advance, Energy Sector Struggles

Materials stocks advanced over 3% at midday Thursday.BHP Group (ASX:BHP) gained more than 3% in recent trade.On the flip side, the energy sector struggled, shedding nearly 3%.Woodside Energy Group (ASX:WDS) shares fell 4% in recent trade.

Australian Card Activity Shows Emerging Slowdown in Discretionary Spend, Westpac Says

Australian card activity showed an emerging slowdown in discretionary spending, with the Westpac-DataX Card Tracker Index rising 2.1 points over the two weeks to April 25, reversing an earlier decline, according to a report released on Wednesday.Quarterly growth momentum remained subdued at around 1% as of late April, down from 1.2% in the first quarter and slower than the 2% average of the previous three quarters.Meanwhile, monthly growth showed more volatility due to fluctuations in fuel prices, which spiked in March before dropping in April following an excise tax cut and reduced demand.The most recent week indicated a notable 1% month-over-month decline.Data from the last six weeks displayed a more pronounced slowdown in discretionary categories, particularly discretionary services, which have now entered into outright contraction despite ongoing activity in both fuel and electricity.

Australia Trade Balance Swings to Deficit in March

Australia's goods balance recorded a seasonally adjusted deficit of AU$1.84 billion in March, down from a surplus of AU$5.03 billion in February, marking the first deficit since December 2017, according to data published by the Australian Bureau of Statistics on Thursday.Goods exports fell 2.7%, or AU$1.21 billion, to AU$43.93 billion, driven by a AU$639 million decrease in the other rural category.Goods imports rose over 14%, or AU$5.65 billion, to AU$45.77 billion, driven by a AU$3.23 billion increase in automatic data processing equipment.

ASX Preview: Australian Shares Set to Rise as US-Iran Tensions Ease; Amcor Posts Higher Fiscal Q3 Adjusted Earnings, Net Sales

Australian shares are poised to rise on Thursday as easing geopolitical tensions and prospects of a US-Iran peace deal drove oil prices lower, boosted gold, and softened the US dollar, creating a more supportive environment for equities.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 1.5%, 2%, and 1.2%, respectively.In the macroeconomy, the international trade in goods report is due at 11:30 am Sydney time.In corporate news, Amcor (ASX:AMC) reported Thursday fiscal third-quarter adjusted earnings of $0.96 per share on net sales of $5.91 billion, compared with adjusted earnings of $0.90 on net sales of $3.33 billion a year earlier.Orica (ASX:ORI) reported Thursday fiscal first-half adjusted earnings of AU$0.60 per share on revenue of AU$3.88 billion, compared with adjusted earnings of AU$0.533 on revenue of AU$3.94 billion a year earlier.Australia's benchmark index rose 1.3% or 113.1 points to close at 8,793.60 on Wednesday.

Asian Industry Sustains Expansion in April: PMI Report

Despite headwinds from Persian Gulf turmoils, Asia's business sectors largely expanded in April, led by the automobile industry, reported S&P Global on Wednesday."Output growth was recorded across 16 of the 18 monitored Asian sectors in April. This figure was up from 15 in March, as metals & mining production returned to growth," said S&P Global, citing its surveys of regional economies.Showing strength in April was the automotive industry. "Leading the rankings for the first time in nearly two years was the automobiles & auto parts sector. The pace of output expansion in the sector quickened to the steepest since May 2024 and was rapid overall," explained S&P Global.Among the broader categories, consumer products did generally well in April."Consumer goods outperformed the other six tracked areas, with growth also supported by strong and accelerated expansions in output across the beverages & food and household & personal use products segments," added S&P Global.The tech and industrial sectors followed consumer goods on the upside, while the slowest expanding sectors were basic materials, financials and healthcare.In contrast to the general regional expansion, the forestry & paper products and construction materials sectors experienced softening in April, reported S&P Global.However, Asian business managers also reported rising and accelerating costs of operation in April."On the prices front, the latest data indicated that cost burdens rose in 17 of the 18 monitored sectors in April. Notably, the majority of these saw expenses increase at a stronger pace than in March," said S&P Global.Of the 18 monitored industries, only banks and real estate lowered output charges, said the credit-rating agency.The Asia Sector PMI indices were compiled by S&P Global from surveys received from 6,000 Asian private-sector companies.

Australian Shares Rally; DigiCo Infrastructure REIT Agrees to Sell Chicago Facility for $750 Million

Australian shares rallied on Wednesday as banks' shares gained after the rate hike by the Reserve Bank of Australia, and US President Donald Trump cited "great progress" towards a peace deal with Iran.The S&P/ASX 200 Index rose 1.3%, or 113.10 points, to close at 8,793.60.Brent crude oil futures fell below $108 per barrel. President Trump said that a US naval operation to guide ships through the Strait of Hormuz would be paused to secure a peace deal with Iran to end the conflict.On the domestic front, Australia's industry activity remained in contraction in April, as persistent weakness in manufacturing and construction and rising fuel-driven cost pressures outweighed early signs of stabilization in orders and employment, the Australian Industry Group said.The Australian Industry Index rose by 9.8 points in April but remained firmly in contraction at negative 24.4. The Australian Performance of Manufacturing Index rose by 0.7 to negative 27.9, while the Australian Performance of Construction Index jumped 37.8 to negative 19.3.In company news, DigiCo Infrastructure REIT (ASX:DGT) agreed to sell its Chicago facility for $750 million to a third-party North American fund manager. The sale, expected to reach financial close in the first quarter of fiscal year 2027, is anticipated to release net cash proceeds of AU$360 million post repayment of asset-level debt and increase available liquidity to AU$900 million. Its shares gained 23% at market close.DPM Metals (ASX:DPM) reported first-quarter adjusted earnings of $0.76 per basic share, up from $0.32 a year earlier. Revenue for the three months ended March 31 was $310.4 million, compared with $144.1 million a year earlier. Its shares closed down 2%.Lastly, NexGen Energy (ASX:NXG) reported on Wednesday a first-quarter loss of CA$0.24 per share, compared with CA$0.09 a year earlier. The company said it does not have any revenue except for interest income. Its shares fell 3% on market close.

ASX Midday Sector Update: Financials Stocks Gain, Energy Slides

Financial stocks advanced nearly 3% to lead gainers in midday trading on Wednesday after Australia's central bank on Tuesday raised its official cash rate to 4.35%.Westpac Banking (ASX:WBC) rose nearly 5% after Jarden said in a Tuesday note that the bank has "meaningfully" boosted its growth and risk appetite to achieve a larger balance sheet and higher revenue base to increase earnings.On the flip side, energy stocks shed nearly 2% as oil prices declined after President Donald Trump said the US will pause an operation to help ships pass through the Strait of Hormuz due to "great progress" on a deal with Iran.Woodside Energy Group (ASX:WDS) dropped 2%, and Yancoal Australia (ASX:YAL) declined 4%.

Australia's Industry Activity Stays in Contraction in April as Costs, Fuel Prices Rise, Australian Industry Group Says

Australia's industry activity remained in contraction in April, as persistent weakness in manufacturing and construction and rising fuel-driven cost pressures outweighed early signs of stabilization in orders and employment, the Australian Industry Group said on Wednesday.The Australian Industry Index rose by 9.8 points in April but remained firmly in contraction at negative 24.4.The Australian Performance of Manufacturing Index rose by 0.7 to negative 27.9, while the Australian Performance of Construction Index jumped 37.8 to negative 19.3, as manufacturing weakened and construction saw a modest recovery, though both remained in contraction amid fixed-price contracts limiting fuel cost pass-through.There was some stabilization in April, with business activity rising 4.5 points to negative 31.2, employment increasing 4.5 points to negative 25.2, and new orders climbing 7.7 points to negative 24.8, reflecting a partial recovery from previous declines.Input prices increased by 13.5 points to 69.3, sales prices rose by 3.9 points to 23.1, and average wages went up by 2.1 points to 36.2, with rising costs widening the gap between inputs and output prices and limiting firms' ability to pass on higher costs.Rising fuel prices are being passed through supply chains, with transport levies driving April inflation, and wider energy shortages are likely to spread price pressures to industrial materials in the months ahead.

ASX Preview: Australian Shares Set to Rise as Iran-US Ceasefire Holds; DPM Metals Posts Higher Q1 Adjusted Earnings, Revenue

Australian shares are poised to rise on Wednesday as easing fears over Middle East supply disruptions and signs of a still-contained Iran-US ceasefire helped steady global risk sentiment, even as tensions around the Strait of Hormuz and intermittent strikes continued to keep energy markets on edge.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.8%, 1%, and 0.7%, respectively.In the macroeconomy, Australia's industry activity remained in contraction in April despite a 9.8 point rebound, as persistent weakness in manufacturing and construction and rising fuel-driven cost pressures outweighed early signs of stabilization in orders and employment, Australian Industry Group said on Wednesday.In corporate news, DPM Metals (ASX:DPM) reported Wednesday first quarter adjusted earnings of $0.76 per basic share on revenue of $310.4 million, compared with adjusted earnings of $0.32 on revenue of $144.1 million a year earlier.Atlas Arteria's (ASX:ALX) independent directors have unanimously urged shareholders to reject IFM's takeover offer, calling it opportunistic, highly conditional, and a material undervaluation of the company's assets and long-term value.Australia's benchmark index fell 0.2% or 16.6 points to close at 8,680.50 on Tuesday.

Australia's Central Bank Raises Key Rate Again in Near-Unanimous Vote

Stubborn inflation and sharply higher fuel prices pushed Australia's central bank to raise its cash rate by another 25 basis points to 4.35% on Tuesday, marking its third increase to borrowing costs this year.Inflation was "already too high before the Middle East conflict" and will likely remain above the 2% to 3% target range for longer due to the recent surge in fuel and related commodity prices, the Reserve Bank of Australia said.The rate decision was in line with market expectations and followed the previous week's headline consumer price index reading of 4.6% for the 12 months to March, a jump up from the 3.7% annual rate in February."Higher fuel prices are adding to inflation and there are indications that this is likely to have second-round effects on prices for goods and services more broadly," the central bank said. It expects the unemployment rate "to increase a bit" alongside a slowdown in household and business spending this year.Tuesday's decision was almost unanimous, as eight policymakers voted for the hike and only one voted to leave the rate unchanged at 4.1%. The previous policy meeting in March was more closely contested, with five votes for an increase and four to hold the rate steady.Under its baseline forecast, which assumes a quick resolution to the Middle East conflict and a decline in fuel prices, the central bank expects the domestic economy's growth to ⁠slow to 1.3% by the close of the year. However, it also warned of plausible scenarios where inflation is higher and activity lower than expected.Speaking at a press conference following the policy meeting, central bank Governor Michele Bullock said the effects of the US-Iran conflict will linger through the year even if it is resolved quickly. She added that the resulting oil shock will worsen the country's housing crisis.ANZ said the tone of the central bank's post-meeting statement was more hawkish than it expected."While the post-meeting statement did note that the board has 'raised the cash rate three times,' there was not the clear opening to a pause in June that we expected," ANZ said.

RBA's Post-Meeting Tone More Hawkish Than Expected, Says ANZ

ANZ said the tone of the Reserve Bank of Australia's post-meeting statement was more hawkish than expected, with no clear opening to a pause in June despite the board noting it has "raised the cash rate three times," according to a Tuesday note by the bank.The bank said this does not necessarily mean another rate increase is a done deal, but shows the board's preference to keep its options open, adding that the subsequent press conference carried more of the "pause-related language" ANZ had expected in the policy statement.ANZ said its expectation remains that the board will pause in June, with the 5:4 vote cast in March suggesting a strong preference among certain board members for moves in Statement on Monetary Policy meetings.By August, without a swift resolution to the Middle East conflict and a resumption of oil flows, ANZ expects Australian activity data to look soft enough to keep the RBA on hold, though risks now appear more skewed toward a rate hike in August than before this meeting, given the ongoing focus on capacity pressures and the more hawkish tone, the bank added.ANZ said RBA staff appear to be anticipating a 1% trimmed mean inflation outcome in the second quarter compared with the first quarter, which would make it difficult for the board to hold rates steady in August in the absence of soft activity data.ANZ said it forecasts a slightly lower trimmed mean outcome and sees risks to the RBA's second-quarter unemployment rate forecast skewed toward a higher reading, it added.

Australian Household Spending Up 1.6% in March Amid Middle East Oil Shock

Australian household spending surged in March at its quickest pace in two years, driven by soaring oil prices from the Middle East conflict.Seasonally adjusted household spending climbed 1.6% month on month, a sharp acceleration from the previous month's 0.3% uptick, although slightly below the 1.8% growth forecast by markets, according to data from the Australian Bureau of Statistics on Tuesday."Household spending rose strongly in March, driven by a 5.1% rise in transport costs as fuel prices climbed in response to the conflict in the Middle East," ABS head of business statistics Tom Lay said.Fuel costs peaked in late March after conflict in Iran disrupted global oil markets, particularly through the closure of the Strait of Hormuz.This surge also pushed up public transit usage as commuters avoided driving private vehicles, while food spending rose 1.7% due to consumers stockpiling goods over supply chain fears.Commonwealth Bank senior economist Ashwin Clarke noted that higher fuel costs should trigger an easing in spending growth later this year."We do expect a further easing in spending growth over the course of the year," Clarke said. "The expected slowing in household consumption is needed for the economy to slow and move closer to balance."ANZ analysts shared the cautious outlook, with economist Aaron Luk and head of Australian economics Adam Boyton saying that "Despite a relatively solid outcome for the first quarter of the year, we continue to anticipate a softer pace of spending growth ahead."Some analysts believe the central bank has room to combat inflation because household spending has remained resilient despite the oil shock.Capital Economics said the Reserve Bank of Australia will have no "major qualms about tightening policy further," as household spending is "holding up well in the face of the oil price shock", Bloomberg News reported.The RBA on Tuesday raised the official cash rate by 25 basis points to 4.35% amid higher inflation, reacting to inflationary pressures stoked by the Iran conflict.

Australian Shares Fall as RBA Raises Cash Rate; Regis Resources to Acquire Vault Minerals in Merger of Equals

Australian shares fell on Tuesday after the Reserve Bank of Australia (RBA) decided to increase the official cash rate by 25 basis points to 4.35%.The S&P/ASX 200 Index retreated nearly 0.2%, or 16.60 points, to close at 8,680.50, setting a new 20-day low.Brent crude oil futures fell to $112.93 per barrel. The US and Iran conducted new attacks in the Persian Gulf in a bid to enforce blockades in the waterway. Maersk said the Alliance Fairfax, a US-flagged vehicle carrier operated by its Farrell Lines unit, exited the Strait of Hormuz accompanied by US military assets ​on Monday, Reuters reported.On the domestic front, Australia's seasonally adjusted household spending rose 1.6% to AU$80.41 billion in March, following a 0.3% increase in the previous month, the Australian Bureau of Statistics reported.The central bank said inflation picked up materially in the second half of 2025, with information since the beginning of 2026 confirming that some of the increase reflected greater capacity pressures. The RBA noted that the Middle East conflict has resulted in sharply higher fuel and related commodity prices already adding to inflation, with early signs that many firms experiencing cost pressures are looking to increase prices of goods and services.Australia's service sector returned to expansionary territory in April, helped by a recovery in business activity following a contraction in March. The S&P Global Australia Services PMI Business Activity Index rose to 50.7 in April from 46.3 in March.In company news, Regis Resources (ASX:RRL) agreed to acquire Vault Minerals (ASX:VAU) in a merger of equals to create a major gold producer that is expected to produce more than 700,000 ounces of gold per year through five operating assets across Western Australia. Under the proposed deal, Vault shareholders will receive 0.6947 shares in Regis for each Vault share owned. Regis' shares fell over 5% at market close, while those of Vault rose nearly 3%.Westpac Banking (ASX:WBC, NZE:WBC) reported fiscal first-half earnings of AU$1.014 per share excluding notable items, up from AU$0.998 a year earlier. Net operating income for the six months ended March 31 was AU$11.28 billion, compared with AU$10.99 billion a year earlier. Its shares closed down nearly 2%.Lastly, Magellan Financial Group (ASX:MFG) appointed Vinva Investment Management as the investment manager of certain global equity funds. The investment strategy for the Magellan Global Fund Open Class Units Active ETF and the Magellan Global Fund Hedged, which had about AU$5.3 billion of assets under management at the close of April, will be changed to the Vinva Global Alpha Strategy. Its shares fell over 6% on market close.

RBA Press Conference: The Oil Shock Is Not the Sole Reason Behind Rate Hikes, Australia Had an Inflation Problem Before This, Says Bullock

RBA Press Conference: RBA Still Conscious of the Dual Mandate, Still Attempts to Bring Inflation Back to Target, Intends Not to Have Unemployment or Employment Slow Any More Than It Has to

RBA Press Conference: Governor Bullock Denies Allegation that Deputy Governor Hauser Provided Forward Guidance

RBA Press Conference: Inflation Expected to Peak in June at About 4.8%, Bullock Says

RBA Press Conference: Effects Will Last Through 2026 Even if Middle East Conflict Resolves Quickly, Says Bullock

RBA Press Conference: These Interest Rate Rises Are Not Going to Do Anything for Inflation in the Next Six Months, Says Bullock