ASX opens higher lifted by miners, ARB dives
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More news: Australian shares opened higher, lifted by gains across the mining and energy sectors.
The benchmark ASX 200 was up by 24.6 points, or 0.27%, to 9,050 at 10:32am AEDT. Five of the 11 sectoral indices opened in the green.
Mining (+1.92%) was the best performing sector after a second consecutive session, led by gains in BHP (+2.04%), Northern Star Resources (+4.51%), Evolution Mining (+3.66%) and Ramelius Resources (+4.30%).
Monadelphous (+16.23%) was the best performer at the open after posting a 52.6% jump in first-half net profit.
Dalrymple Bay Infrastructure (+8.43%) and Viva Energy (+7.51%) rallied despite reporting lower full-year profit.
Nine Entertainment (+6.36%) rose after recording a 42% jump in first-half profit.
Elsewhere, tech (-1.77%) was the worst performing sector and is set for a second consecutive decline, led by losses in Life360 (-3.96%), Data#3 (-6.29%), Siteminder (-5.41%) and Macquarie Tech (-1.11%).
ARB (-14.93%) slumped and was the worst performing stock after seeing a 17.2% drop in half-year profit amid lower sales margin.
Australian shares to open higher as Wall St tumbles on tariff woes
The news: Australian shares are set to open higher as Wall Street indices tumbled on Monday, led by losses in software and financial stocks.
Markets were pushed back into tariff uncertainty following a ruling by the US Supreme Court against sweeping import levies imposed by Donald Trump, which prompted a fresh round of trade threats from the president.
The numbers: Updated at 7:32am AEDT:
- ASX futures: up 23 points to 8,999.
- Wall Street: Dow Jones down 1.60%, S&P 500 down 1.21% and the Nasdaq down 1.26%.
- Europe: CAC 40 down 0.22%, DAX down 1.06% and FTSE 100 down 0.02%.
- Spot gold: up 2.32% to USD5,227 per ounce.
- Oil prices: Brent down 0.29% to USD66.43/bbl and US WTI down 0.09% to USD66.42/bbl.
- AUD: down 0.41% at 70.57 US cents.
- Bitcoin: down 5.05% to USD64,245.
The context: A broad sell-off pushed all three major US indices sharply lower as risk appetite weakened amid renewed uncertainty over trade policy following statements from Donald Trump.
The Dow fell about 1.6% in afternoon trading, weighed down by declines in American Express, Goldman Sachs and JPMorgan.
Software stocks took another hit, after a report by Citrini Research reignited concerns about the potential economic fallout from AI.
The sell-off followed Friday’s 6-3 ruling by the US Supreme Court, which found Trump had overstepped his presidential authority by imposing reciprocal tariffs under an economic emergency law. Trump criticised the decision and threatened a 15% temporary tariff on all imports.
Elsewhere, Bitcoin extended its decline, trading below USD65,000. Gold and silver prices rose on safe-haven demand, while the US dollar edged lower, including against the Japanese yen and Swiss franc.
Locally, Scentre Group, Viva Energy, Woodside Energy, Monadelphous, Kelsian Group, Nine Entertainment, Southern Cross Media and ARB Corporation are scheduled to report their earnings today.
