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Market Wrap

ASX closes lower; Bapcor led losses as PEXA boomed

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The news: The Australian sharemarket closed lower as every industry sector posted losses, aside from health care.

The benchmark ASX 200 fell 0.32% to end at 8709.4 with 10 of the 11 sectors finishing in the red.

Industrials (-1.2%) was the worst performing sector as Transurban (-0.4%), Brambles (-1.5%) and Computershare (-3.3%) finished lower.

Health care (+1%) was the only sector to finish higher with CSL (+1.5%), Resmed (+0.4%) and Cochlear (+0.9%) posting gains. However, Pro Medicus (-1.3%) finished lower and Sigma Healthcare (0%) finished flat.

The real estate (-0.9%) sector also fell as Goodman Group (-0.8%) led the eight biggest companies in the sector lower. Meanwhile, PEXA (+16.5%) was the biggest gainer on the ASX 200.

Commonwealth Bank (+0.1%), NAB (+1.2%), and Westpac (+0.5%) finished higher while ANZ (-0.4%) finished lower.

Biggest losers:

  • Bapcor (-28.4%) – Warned that second-half trading performance was “below” expectations amd confirmed that three board directors resigned after close of trading on Wednesday. Was the worst performer on the ASX 200.
  • Boss Energy (-6.4%) – Managing director and chief executive Duncan Craib will step down on 30 September and will be replaced by chief operating officer Matt Dusci. Craib will begin as a non-executive director on 1 January 2026.
  • Macquarie Group (-5.1%) – Chief financial officer Alex Harvey will step down at the end of this year after 28 years at the financial services firm. The company also announced a profit decline in Q1 and looks set for its first ever remuneration strike.
  • Capricorn Metals (-3.4%) – Entered a binding scheme implementation deed that proposes to acquire gold and copper miner Warriedar Resources through an all-shares deal.
  • Karoon Energy (-2.8%) – Second quarter revenue for 2025 fell year-on-year following a sharp fall in oil prices.

Biggest gainers:

  • Calix (+28.6%) – Received a $44.9 million grant from the Australian Renewable Energy Agency to help fund development of its green steel demonstration plant.
  • PEXA (+16.5%) – UK lender NatWest entered a formal commitment to deliver remortgages, sale and purchase transactions on digital settlement PEXA's platform.
  • Lynas Rare Earths (+5%) – Reported record gross sales revenue and production in the June quarter. Also signed a memorandum of understanding with South Korean biotech company JS Link to collaborate on developing a magnet manufacturing facility in Malaysia.
  • Fortescue (+4.3%) – Reported record iron ore shipments, the first decline in hematite cash costs since FY20, and a reduction of energy spend partly driven by the decision not to proceed with two green hydrogen projects.

Other news:

  • Regis Healthcare (+2.8%) – The aged care provider agreed to buy privately owned rival Rockpool for $135 million.
  • Treasury Wine Estates (+0.1%) – Appointed North American drinks wholesaler Breakthru Beverage Group as its exclusive distributor in California from 1 September. The company will replace Republic National Distributing Company.
  • Northern Star Resources (-2.4%) – Broadly met market estimates after publishing its fourth-quarter production figures this morning.
  • Droneshield (-5.9%) – Awarded a $5 million contract to supply handheld counter-drone equipment to the Australian Defence Force as a part of the broader Project LAND156.

What’s ahead:

  • June flash purchasing managers’ index data for France, Germany, the Eurozone, the UK and the US will be released by S&P Global throughout the evening.
  • The European Central Bank (ECB) will announce its interest rate decision and make a monetary policy statement this evening at 10:15pm.
  • ECB president Christine Lagard and vice-president Luis de Guindos will deliver a press conference at 10:45pm.

By Brandon How