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Sydney Morning Herald
18 hours ago
- Business
- Sydney Morning Herald
ASX hits record high; BlueScope slumps; Kalia Resources soars 2900%
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket closed at a record high on Monday, as stocks in the financial and communications sectors moved higher and investors cheered updates from market heavyweights Lendlease and REA Group. The S&P/ASX 200 rose by 20.7 points or 0.2 per cent, closing at 8959.30, a record high, after the bourse hit a fresh record high every day last week. Seven sectors gained, led by communications services, three sectors declined, and the utilities sector was unchanged. The Australian dollar was fetching US65.15¢ at 5.14pm AEST. The lifters Construction giant Lendlease surged 6.7 per cent as it said it returned to profitability in the June year, posting $225 million in net profit after tax, after a $1.5 billion loss a year ago. The company – which experienced a period of upheaval, including asset sales and cutting staff – will pay full-year dividends of 23c per share, an increase of 44 per cent compared with the 2024 financial year. Real estate listings business REA Group jumped 4.5 per cent after the company appointed Cameron McIntyre as its new chief executive, replacing the retiring Owen Wilson, who will become chair of REA India. McIntyre arrives at REA with relevant experience, having run ASX-listed CAR Group, operators of automotive listings platform Carsales for the past six years. Little-known resources stock Kaili Resources surged by an extraordinary 2900 per cent after an announcement on Friday afternoon that it had received permission for drilling in South Australia to test for potential rare earth elements. The company, which had a market capitalisation of $5 million at the start of the day, pointed to the announcement in response to an ASX price query.
AU Financial Review
11-08-2025
- Business
- AU Financial Review
ASX 200 LIVE: ASX to slip, Wall St awaits July CPI data, reporting on Tuesday: Life360, SGH, Seven West Media
Australian shares are poised to open lower, amid modest weakness in New York as the rally from April's lows lost momentum pending Tuesday's US July consumer prices report. President Donald Trump signed an executive order to extend a tariff truce with China for another 90 days, according to CNBC. Trump earlier said gold imports to the US will not be hit by tariffs. Results scheduled for Tuesday are: Life360, SGH and Seven West Media. For more details see our reporting season calendar. The US CPI report is expected to show that President Donald Trump's embrace of tariffs continues to bleed into prices for goods, offset in part by lower petrol prices. 📩 Get the daily Results Wrap newsletter during earnings season, with our Chanticleer columnists' analysis of the key results of the day. Sign up here. Market highlights ASX 200 futures are pointing down 17 points or 0.2 per cent to 8779. All US prices near 2.30pm New York time. AUD -0.1% to US65.15¢ -0.1% to US65.15¢ Bitcoin +1% to $US119,724 +1% to $US119,724 On Wall St: Dow -0.4% S&P -0.1% Nasdaq -0.06% -0.4% -0.1% -0.06% VIX 0.74 to 15.89 0.74 to 15.89 Gold -1.3% to $US3355.27 an ounce -1.3% to $US3355.27 an ounce Brent oil +0.2% to $US66.73 a barrel +0.2% to $US66.73 a barrel Iron ore +1.4% to $US103.55 a tonne +1.4% to $US103.55 a tonne 10-year yield: US 4.27% Australia 4.24% Today's agenda The RBA is widely expected to cut the cash rate target by 25 basis points to 3.60 per cent at its Tuesday policy meeting. The policy decision will be released at 2.30pm, as well as the latest Statement on Monetary Policy. Governor Michele Bullock is scheduled to hold a press conference starting at 3.30pm. eToro market analyst Farhan Badami: 'While the July [RBA] pause was a surprise, a consecutive pause in August will be a shock. Three cuts before the end of the year are still expected, but there's very little wiggle room left in the calendar if the RBA heightens its degree of risk aversion any further.' Earlier, at 11.30am, NAB will release its July business confidence and conditions survey. Later in the day, at 10.30pm, the US will release its July CPI report. Yardeni Research: 'The odds are low that we'll see downside surprises in July CPI inflation data. There's little doubt that tariff effects are boosting durable goods inflation, as they did in June. But the risk of a big upward surprise is tempered by signs that rents and used car prices are cooling. The Cleveland Fed's Inflation Nowcasting model has the CPI rising 3.04 per cent in July and 3.02 per cent in August. Those would be considered too hot to justify Fed easing.' Top stories Trump's Nvidia shakedown is unprecedented and scary | The chip maker is the latest firm to learn about the US president's new corporate playbook: threaten a company and then watch it agree to a 'deal'. Former PwC partner banned over $11m in 'false' R&D tax claims | The Tax Practitioners Board said Richard Gregg made false claims on behalf of clients that caused a tax shortfall of more than $11 million. AI would plan lessons, mark tests under PC schools overhaul | The Productivity Commission is urging the federal government to lead a push to turbocharge the uptake of artificial intelligence in schools. Captain's pick: Westpac CEO taps Carolyn McCann to run retail division | The move is a key appointment for the bank, given its retail unit was the second-biggest contributor to the bank's profit. NDIS funding cliff threatens to undermine scheme overhaul | Labor has forecast almost $20 billion in NDIS savings over four years to June 30, 2028, but 1000 jobs key to the transition are only budgeted to June 30, 2026.
