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Australian shares are coasting into the station at the end of a very tumultuous 2024-25 financial year with a light bump. ASX 200 futures point to a +0.24% advance, helped on by fresh bourse records over in U.S. trading.
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The S&P 500 in particular ticked over a new all-time high – 6,170 points – at close on Friday over on Wall Street as mid-2025’s post-COVID-19-esque rally barrels on.
Three months on from Trump’s “Liberation Day” tariffs blitz, equities are sizzling and traders are becoming more and more bullish day by day – a quickly growing dovish stance helped on by Trump declaring he probably “won’t need to” extend the July 9 trade deadline he leveraged against several allies 90 days ago.
The Nasdaq composite added +0.4% under those headwinds on Friday, while the Dow Jones closed +1% higher; a large burst the ASX isn’t quite tracking.
When trading begins on FY24-25’s last day, we should see a modest 20-point jump.
Speaking of news at home, James Hardie (ASX:JHX) is moving to the New York Stock Exchange after Azek shareholders approved a $14B buyout. Disgruntled James Hardie holders were denied a vote after an ASX-granted waiver.
ASIC is also sniffing around PointsBet Holdings (ASX:PBH) after a bungled voting round where Computershare accidentally excluded votes against the proposed $402 million takeover offer from Japan’s Mixi. All votes from Betr (ASX:BBT), which also wants to buy PointsBet and has been staunchly against the deal, were missed.
Tetratherix Limited is lined up to float on the ASX today, listing under ticker code “TTX” as it looks to raise $25 million in capital. The debutant biomaterials developer and manufacturer will issue opening shares at $2.88 each.
More spending data is coming this week, too, including retail trade on Wednesday.
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Looking at forex, the Aussie dollar is 65.3 US cents.
And to commodities, all in the greenback,
Iron Ore will end FY24-25 a solid +1.5% higher at $94.75 a tonne in Singapore,
Brent Crude is at $67.35,
Gold is at $3,257 per ounce, and,
US natgas futures are -2% lower at $3.67 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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