The ASX edged lower on Wednesday as profit-taking in major banks erased earlier gains sparked by a strong Wall Street lead. The S&P/ASX 200 dipped 0.1% to 8399.4 by 2pm, after hitting its highest intraday level since February 19. Financials led sector declines, with Commonwealth Bank down 0.6% and Macquarie easing 0.3% after an initial 1% rally.
ASX Edges Higher on Tech, Banks; Iron Ore Weakens
The ASX 200 rose 0.3% to 8388 on Tuesday, tracking gains in European markets and US futures after easing trade tensions between the US and EU. The All Ordinaries also gained 0.3%, with eight of 11 sectors in positive territory, led by energy.
Meeka Metals Limited is an Australian based gold company. The Company has a portfolio of 100% owned projects across Western Australia. The Company is engaged in the exploration and evaluation of its mineral assets at the Murchison Gold Project and Circle Valley Project.
Australian shares fluctuated on Monday, with the S&P/ASX 200 Index edging just 0.6 points higher by 2pm, as markets reacted cautiously to U.S. President Donald Trump’s decision to delay a 50% tariff on EU imports until July 9. The Nasdaq rebounded, with futures up more than 1%, while the U.S. dollar weakened to its lowest level since 2023, lifting the Australian dollar and the yuan to six-month highs.
Australian shares are poised to close the week higher, supported by easing US Treasury yields and renewed expectations of interest rate cuts from the Reserve Bank. The S&P/ASX 200 was up 0.2% to 8366.4 by 2pm, on track for a second consecutive weekly gain, while the All Ordinaries rose 0.3%.
The Australian sharemarket declined on Thursday, weighed down by profit-taking in major banks and miners, following Wall Street’s sharpest fall in a month. The S&P/ASX 200 dropped 0.5% to 8342.3 by 2pm, while the All Ordinaries fell 0.6%. Nine of 11 sectors traded lower, led by energy.
ASX Rallies on RBA Rate Cut and Dovish Outlook
The Australian sharemarket climbed on Wednesday, buoyed by the Reserve Bank of Australia’s decision to cut interest rates by 25 basis points to 3.85%, with the S&P/ASX 200 rising 0.7% to 8398.1—less than 2% from its record high. Ten of the 11 sectors advanced, led by banks and utilities, as bond yields fell and rate cut expectations firmed.
The ASX extended gains after the Reserve Bank of Australia delivered a widely expected 25 basis point rate cut—its second for the year—lifting the S&P/ASX 200 by 0.5% intraday. All 11 sectors traded higher, led by financials, technology, and real estate.
The Australian sharemarket snapped its longest winning streak since August, retreating alongside US futures amid renewed risk-off sentiment. The S&P/ASX 200 fell 0.5% or 42.1 points to 8301.6 by 2pm, ending an eight-session rally. The All Ordinaries dropped 0.6%, with materials and energy stocks leading the decline.
Newmont Corporation (NEM) is a gold company and a producer of copper, zinc, lead, and silver. The Company’s portfolio of assets, prospects and talent is anchored in mining jurisdictions in Africa, Australia, Latin America and Caribbean, North America, and Papua New Guinea
ASX Eyes Weekly Gain as Rate Cut Bets Boost Sentiment
The ASX is poised to end the week on a high, supported by mounting expectations of rate cuts following soft economic data from both Australia and the US. By 2pm, the S&P/ASX 200 was up 0.5% to 8341.4, heading for its eighth consecutive gain and a 1.4% rise over the week.
The S&P 500 rose for a fourth consecutive session, gaining 0.41% to close at 5,916.93, as easing U.S.-China trade tensions and falling Treasury yields lifted market sentiment. The Dow Jones Industrial Average advanced 271.69 points (+0.65%) to 42,322.75, while the Nasdaq Composite edged down 0.18% to 19,112.32 despite strong tech performance earlier in the week.
