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ASX today − Australian shares are heading for a -0.3% drop at open on Tuesday, with the global splashback from Trump trying to force through his Greenland purchase with fresh European tariffs drifting Down Under today.
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We were largely unscathed yesterday, even though Trump started shaking the ol’ tariffs threats around over the weekend, but that was mostly because Wall Street hadn’t opened its trading yet. Once U.S. futures − and then the S&P and Dow themselves − started rumbling, red arrows followed.
It’s not been the biggest dip, though, with no U.S. major sliding below -0.2%. Europe has been hit harder; the FTSE closed -0.4%, the Stoxx -1.2%.
Interestingly, there’s been budding sentiments around global traders breaking away from the “Buy America” supercycle, but with how embedded us Aussie seems to be as America’s little brother trade-wise, it’s pretty unlikely.
We’ll see, though − and as we wait, let’s look at the company wire.
ASX stocks to watch
First up, Origin Energy (ASX:ORG) will be keeping Eraring, Australia’s largest coal-fired power plant, running until April CY29, instead of its mid-CY27 shuttering. At the same time, it’s again demanded NSW increase its renewable, storage, and transmission capacity through to Eraring’s closure.
Elsewhere, Fletcher Building (ASX:FBU) has struck a deal to sell its construction division to international heavyweight Vinci Construction. In return for the company slice, Fletcher is banking A$271.85 million.
And, Olympio Metals (ASX:OLY) is the talk of the HotCopper forums early after hauling in over 100 promising intercepts at its Bousquet project.
Just squeezing in some undated news here, too: Yesterday, I flagged that Barkly Rare Earths was planning to float in Week 4. The NT explorer has since changed its mind and pushed back its arrival. No new date set yet.
Finally, BHP (ASX:BHP) and Hub24 (ASX:HUB) have quarterlies today.
Buck and ore
Now – in forex, our Oz dollar’s buying 67.1 U.S. cents.
Looking at commodities, all in the greenback,
Iron Ore is down some -1.4%, selling at $104.95 a tonne in Singapore,
Brent Crude has lost -0.1%, to $64.06/Bbl,
Gold is at $4,689 an ounce, and,
US natgas futures rocketed +15% today, to $3.56 per gigajoule.
That’s HotCopper’s Market Open, I’m Isaac McIntyre – good luck, happy trading.
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