Market Open: Bank hype sticks around to keep Oz green; BHP leading bourse charge

At The Bell — Bank hype over in the U.S. is leading the way globally, with the Australian share market heading for a +0.2% advance at open. That will keep the bourse above 8,800 points as we get towards the end of Week 29.

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There’s some excitement at home, too, after Trump’s “liberation day” tariffs were deemed unlawful; U.S. customs now has to pay back tens of billions.

Whether that will give ASX-listed companies much of a bump remains to be seen, but investors are certainly mulling the idea this morning.

Looking over floats, too, Moniva, which will list under MNV when it arrives, has delayed its plotted IPO it had lined up for yesterday. Lux Copper is still in for Friday — and we’ll discuss all that on the HotCopper Wire today.

(That will be out on Spotify, Apple, and HotCopper.com this evening.)

ASX stocks to watch

First up, Perpetual Ltd (ASX:PPT) told shareholders very late yesterday that it has now received an improved takeover proposal from Swedish private equity giant EQT, pitched at $22.07 per share. This approach is a 2% increase on its original $21.64 offer filed on July 1, which valued Perpetual at $2.5 billion.

Our biggest blue-chips have been charging, too: Macquarie (ASX:MGQ) jumped yesterday +2% to a record close of $258.16; BHP Group (ASX:BHP) up +3.5%.

Kingsgate (ASX:KCN) has been a whole lot stronger in WK29 as well, after confirming repairs at its Chatree gold mine in Thailand were “tracking well.” As much as 50% of Plant 1’s normal processing capacity has been restored.

And, Webjet (ASX:WEB) has appointed ex-Wesfarmers OneDigital MD Nicole Sheffield as chief executive, replacing Katrina Barry, who left in May.

Buck and ore

In forex, the Oz dollar is buying US 70c today,

Then to commodities, all in the greenback,

Brent Crude continues to climb, +0.4% to $85.09/barrel,

Iron Ore has held over $100.55 a tonne in Singapore today, up another +0.4%,

Gold up, $4,064/ounce, and,

US natgas futures largely flat, $2.91 per gigajoule.

That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.

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