Join our daily newsletter At The Bell to receive exclusive market insights
Australian shares (and maybe Oz traders) are starting the new financial year in a grumpy mood, with ASX 200 futures tipping a -0.19% as FY25-26 gets underway.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
That’s despite Wall Street’s big hikes: The S&P 500 and the Nasdaq composite both reset closing highs as the U.S. ticked over the last day of its financial year with a +0.5% gain. Aussie shares haven’t been interested in following.
That may change through July 1 today, but with little expected on the data front and no grand news expected — which doesn’t mean it won’t drop, of course — Australian trading may just tick over red through Tuesday today.
It’s not overly surprising to see Wall Street and Sydney traders divided; Europe’s leading FTSE dropped -0.4% and the Asia Dow retreated around -0.25%.
Sentiment is simply split, best shown by Shanghai ignoring its sister index to add +0.6%.
One slice of Aussie news that may impact sectors – mainly energy – is that the Labor gov’t is running a “holistic review” of the gas market. Sector leaders like Woodside (ASX:WDS) and Whitehaven (ASX:WHC) are already down for the week.
Nine Entertainment (ASX:NEC) is one to watch, too, after it bought the EPL rights.
So too June debutant LINQ Minerals (ASX:LNQ), after it crashed -13% on its first trade day.
More market news
Meet GeoGeorge: The HotCopper poster so accurate he got hired as an analyst
“Not possible” to port renewable gas: ACCC is taking AGN to court
Looking at forex, the Aussie dollar is 65.8 US cents.
And to commodities, all in the greenback,
Iron Ore has retreated -0.3%, to $94.20 a tonne in Singapore,
Brent Crude is at $66.59,
Gold is at $3,305 per ounce, and,
US natgas futures are a whopping -7.6% lower at $3.45 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
Join the discussion: See what’s trending right now on Australia’s largest stock forum and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
