🇦🇺 Australia market recap
Risk-on2026-07-10😱 Fear low; gold surge and oil drop ease inflation, but HSBC housing correction warning sparks caution.
The ASX 200 dipped 0.25% on Thursday amid bank and miner weakness, but futures signal a 0.1% rise today following strong US trade. Gold surged 1.25% to $4,133/oz, lifting miners like Evolution and Newmont, while oil prices fell 2%, easing inflation fears. Risk-on sentiment prevails with gold and tech outperforming, but housing correction warnings add caution 📉📈💰
Big news
📰 ASX 200 expected to rise 0.1% on Friday following strong US overnight trade
Positive sentiment for broad market; SPI futures signal 8-point open higher.
📰 Gold futures surge 1.25% to $4,133.9/oz, lifting ASX gold miners
Overweight gold sector; Evolution Mining and Newmont gain on price momentum.
📰 WTI crude oil drops 1.85% to $72.15, Brent falls 2.1% to $76.42
Underweight oil/gas; reduced inflation lowers rate hike fears, aiding equities.
📰 Vault Minerals jumps 11.6% as takeover target; Genesis Minerals drops 4.1%
M&A-driven gold mining rally; standout deal activity in exploration sector.
📰 HSBC’s Paul Bloxham predicts national housing price correction up to 8% by 2027
Underweight banks and real estate; housing slowdown threatens loan growth.
📰 Clarity Pharmaceuticals surges 19% on unclear catalyst; CSL and Cochlear rise 2%
Overweight healthcare; strong large-cap performance offsets Ramsay’s 1.1% drop.
Sector stance
Gold price surge lifts Evolution Mining, Newmont; Vault Minerals M&A rally.
CSL, Cochlear gain; Clarity Pharmaceuticals standout 19% surge.
WiseTech and Nuix rise 7% and 5%; tech momentum strong.
Oil price drop; Santos gains 1.4% but sector faces pressure.
Housing correction warning; banks dragged ASX down Thursday.
Miners contributed to ASX decline; iron ore weakness persists.
Netwealth accumulate rating; Jumbo Interactive fully valued per Bell Potter.
Discretionary cyclicals outperform staples; mixed retail but positive trend.
Supermarkets lag; Viva adds 0.5% but Ampol falls 1.0%.
Housing price correction forecast; negative sentiment for property sector.
Stable performance; no major catalysts or volatility expected.
Outlook
ASX likely to rise Friday with gold and tech leading; housing correction and oil volatility remain risks. Investors should overweight gold miners and healthcare, underweight banks and real estate, and monitor US earnings for rate cues.