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Market Wrap

ASX closes lower as CBA tumbles

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The news: The Australian sharemarket finished lower as Commonwealth Bank and AGL Energy tumbled on their respective full-year earnings.

The benchmark ASX 200 fell 0.60% to end at 8,827.1, despite six out of 11 sectors finishing in green.

Analysts were not enthused by Commonwealth Bank’s (-5.4%) FY25 result, with some flagging soft FY26 guidance. The bank also announced that it had signed a multi-year partnership with OpenAI to develop generative AI solutions to tackle scams and fraud.

The finance sector (-2.6%) fell as NAB (-2.5%) and Westpac (-2.1%) also dropped while ANZ (-0.2%) finished slightly higher.

Utilities (-2.8%) was the worst performing sector as AGL Energy (-13.1%) led losses on the ASX 200 after reporting a $98 million statutory loss in financial year 2025. Origin Energy (-1.5%) also fell.

Biggest movers:

  • Beach Energy (-7.6%) – Macquarie analysts downgraded their position on the stock and slashed their target price, noting their surprise that the market “hasn’t reacted more negatively following FY25 results and reserves report” released last week.
  • Computershare (-3.8%) – Analysts flagged soft FY26 guidance announced by the share registry software business alongside its FY25 results on Tuesday evening.
  • Tyro Payments (+11.5%) – Confirmed it had received takeover interest from multiple unnamed suitors, but said that the proposals do not reflect “Tyro’s intrinsic value”.
  • Life360 (+5.5%) – Rallied for a second day after reporting record revenue for the June quarter and a CEO transition on Tuesday. Analysts raised their target price on the stock.
  • Evolution Mining (+3.9%) – Reported a 119% lift in statutory net profit after tax for the 2025 financial year, after the gold miner posted record annual production amid gold prices that were 35% higher year on year.

Deals news:

  • Elanor Commercial Property Fund (ended flat) – Elanor Investor Group has rebutted a number of assertions made by Lederer Group, which is looking to acquire Elanor's commercial property fund.
  • Capricorn Metals (-1.6%) – Completed a $1.5 million acquisition of the Mongers Lake gold project in the Murchison region of Western Australia from small-cap Albion Resources.

Earnings news:

  • Amotiv (+2.2%) – Swung to a statutory net loss from continuing operations, as a $190 million impairment on its subsidiary AutoPacific Group (APG) weighed on its full-year result.
  • Treasury Wine Estates (+1.2%) – Reported a 342% jump in full-year net profit after tax, driven by strong growth in Penfolds sales in China and other Asian markets.
  • IAG (-0.1%) – Reported full-year insurance profit that was 21.2% higher year on year after natural perils costs came in $195 million below the company's annual allowance.
  • Arena REIT (-1.8%) – Reported a 42% increase in statutory net profit for the 2025 financial year, driven by rent increases and portfolio divestments during the period.
  • Dexus Industria REIT (-3.4%) – Reported profit of $84.2 million for financial year 2025, recovering from losses of $11.8 million in the previous financial year 2024.This reflects portfolio valuation gains.

Other news:

  • Infratil (-0.6%) – Reported a USD27 million ($41.4 million) decline in the valuation of its investment in US renewables company Longroad Energy over the three months to 30 June.
  • Equity Trustees (-5%) – Disagreed with a report by the Western Australian Charitable Trusts Commission that found the company "breached its duties as trustee" in authorising the purchase of the Spanish equine theme park El Caballo Blanco by the Noongar Charitable Trust in 2020.

What’s ahead:

  • The Australian Bureau of Statistics will release labour force data for July and average weekly earnings data for May tomorrow at 11:30am AEST.
  • Overseas arrivals and departures data for June will also be released by the Australian Bureau of Statistics tomorrow at 11:30am AEST.

By Brandon How