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Market Wrap

ASX closes lower; Deep Yellow, New Hope tumble

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The news: The Australian sharemarket finished lower as the real estate sector dragged alongside gold and uranium miners.

The benchmark ASX 200 fell 0.67% to end at 8,818.5 with eight out of the 11 sectors finishing in red.

The real estate sector (-1.6%) was the worst performing as Goodman Group (-0.9%), Scentre Group (-2.2%), Stockland (-2.5%) and Vicinity Centres (-3.5%) fell.

Scentre announced the appointment of CSR chief executive Julie Coates as a non-executive director, effective 1 October. GPT Group (-2.4%) appointed Citigroup executive Tony Osmond as an independent non-executive director, effective 1 March 2026.

BHP (-1.1%) also announced plans to axe 750 jobs and close a Queensland coal mine in November. Other coal miners Whitehaven Coal (+5.2%) and Yancoal (+2.4%) lifted.

Biggest movers:

  • New Hope Corporation (-8.3%) – Macquarie analysts downgraded their position on the stock and cut back their target price amid a disappointing production outlook.
  • Gold miners also weighed on the bourse as the spot price eased record gains. Genesis Minerals (-5.2%), Westgold Resources (-2.5%) and Ramelius Resources (-2.5%) were among the worst performers on the ASX 200.
  • Paladin Energy (-1.5%) – Citi has slashed its target price on Paladin Energy after the uranium miner completed a $300 million equity raise. Deep Yellow (-7.9%) and Boss Energy (-4.1%) erased gains made on Tuesday following a US-UK nuclear power station deal and signals that the US would seek to increase its national strategic uranium stockpile.
  • DroneShield (+1.9%) – Signed two new contracts with the US Department of Defense totalling a combined $7.9 million. The deals take the company to more than 4,000 systems sold worldwide.

Other news:

  • Coles (-0.4%) – Rokt president and chief operating officer Terry Bowen will retire from the board of the supermarket giant effective 15 October 2025 to focus on his executive role.

What’s ahead:

  • The Bank of Canada will make an interest rate decision tonight at 11:45pm AEST.
  • The US Federal Reserve’s Federal Open Market Committee will make an interest rate decision tomorrow at 4:00am AEST.
  • The Australian Bureau of Statistics will release labour force data for August tomorrow at 11:30am AEST.

By Brandon How