Asia
ASX Preview: Australian Shares to Fall After Oil Surge, Fresh Trump Tariffs; Newmont Posts Higher Q2 Adjusted Earnings, Revenue
Australian shares are poised to fall on Friday as a surge in oil prices above $100 a barrel stoked concerns over inflation and global economic growth after attacks on Saudi oil tankers in the Red Sea intensified supply disruption fears.Markets were also pressured by renewed trade tensions after the Trump administration announced new tariffs on 60 trading partners, including the European Union, as a temporary US tariff regime expired.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average fell 1.2%, 2.2%, and 1%, respectively.In the macroeconomy, Australia's private sector expanded at its fastest pace of 2026 in July as new business returned to growth after four months, though business confidence remained subdued despite easing cost pressures, according to a survey by S&P Global released Friday.In corporate news, Newmont (ASX:NEM) reported Friday second quarter adjusted net income of $2.10 per share on revenue of $6.12 billion, compared with adjusted net income of $1.43 on revenue of $5.32 billion a year earlier.Regis Resources (ASX:RRL) said June quarter gold production was 101,500 ounces at an all-in sustaining cost of AU$3,244 per ounce, with gold sales of 102,400 ounces totaling AU$639 million at an average realized price of AU$6,241 per ounce.Australia's benchmark index rose 0.2% or 16 points to close at 8,839 on Thursday.
ASX 200ASX:NEMASX:RRL
