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ANALYSIS
OPINION
ACTION

ANALYSIS

Market Analysis

29M.AX

6.9%

4DX.AX

-2.73%

ABG.AX

-1.86%

ASK.AX

-1.4%

AX1.AX

-1.14%

AIS.AX

AGL.AX

-0.27%

AIZ.AX

-1.42%

AAI.AX

0.03%

ALK.AX

-3.92%

A4N.AX

2.98%

ALQ.AX

1.05%

AMC.AX

-4.07%

AOV.AX

0.11%

AMP.AX

-0.99%

AEL.AX

ALD.AX

-3.12%

ANN.AX

-0.58%

ANZ.AX

-0.2%

APA.AX

-0.81%

ARU.AX

-5%

ARB.AX

0.19%

ARF.AX

-3.81%

ARG.AX

-0.22%

ALL.AX

-1.72%

APZ.AX

-1.45%

ASX.AX

0.04%

ALX.AX

-1.53%

AUB.AX

0.8%

AIA.AX

-0.49%

AZJ.AX

-0.15%

ABB.AX

1.03%

ASB.AX

1.62%

AAC.AX

0.35%

ACL.AX

-1.71%

AEF.AX

-0.14%

AFG.AX

-2.1%

AFI.AX

AUI.AX

0.09%

ASG.AX

1.23%

BOQ.AX

-0.51%

BMN.AX

4.27%

BAP.AX

-1.98%

BCI.AX

-1.32%

BPT.AX

0.61%

BLX.AX

-2.72%

BGA.AX

-0.37%

BGL.AX

-0.65%

BEN.AX

0.24%

BHP.AX

0.27%

BKI.AX

0.28%

BC8.AX

-4.36%

XYZ.AX

-4.31%

BSL.AX

-0.71%

BOE.AX

1.18%

BXB.AX

-1.05%

BVS.AX

0.17%

BRE.AX

-1.99%

BRG.AX

0.23%

BGP.AX

BFL.AX

1.56%

BWP.AX

-1.79%

CMM.AX

0.45%

CSC.AX

4.18%

CAR.AX

-3.64%

CIN.AX

2.06%

CYL.AX

0.6%

CAT.AX

-1.46%

CWP.AX

-0.35%

CNI.AX

-3.57%

CIP.AX

-2.38%

COF.AX

-2.67%

CHN.AX

-0.63%

CGF.AX

1.32%

CIA.AX

11.62%

CHC.AX

-2.07%

CLW.AX

-3.34%

CQR.AX

-1.93%

CQE.AX

-3.01%

CNU.AX

0.43%

C79.AX

-0.24%

CVL.AX

-1.35%

CU6.AX

6.29%

CWY.AX

0.4%

CUV.AX

-1.67%

CBO.AX

-0.91%

COH.AX

-1.12%

CDA.AX

-0.14%

COL.AX

-2.84%

CKF.AX

-2.86%

CBA.AX

0.26%

CPU.AX

0.4%

CEN.AX

2.07%

CRN.AX

20.69%

CCP.AX

0.44%

CMW.AX

-1.08%

CSL.AX

3.89%

CCL.AX

-0.6%

DBI.AX

-0.68%

DTL.AX

-6.51%

DTR.AX

-11.9%

DYL.AX

4.13%

DRR.AX

0.98%

DVP.AX

0.7%

DXS.AX

-4.73%

DXI.AX

-1.57%

DDR.AX

-1%

DGT.AX

-2.07%

DUI.AX

DJW.AX

0.65%

DMP.AX

4.59%

DOW.AX

0.79%

DPM.AX

-0.96%

DRO.AX

-6.24%

DUR.AX

0.95%

DNL.AX

APE.AX

-0.81%

EBO.AX

3.42%

EBR.AX

1.24%

ELD.AX

-1.1%

EOS.AX

-3.23%

ELV.AX

3.86%

EHL.AX

-1.23%

EMR.AX

-1.19%

EDV.AX

0.14%

EOL.AX

-3.29%

ERA.AX

25%

EQT.AX

8.06%

EVN.AX

-0.38%

EVT.AX

1.28%

FCL.AX

-1.66%

FFM.AX

-1.82%

FPH.AX

0.35%

FPR.AX

-1.22%

FBU.AX

2.55%

FLT.AX

0.74%

FML.AX

-4.63%

FMG.AX

2.82%

FRW.AX

FGX.AX

0.36%

FGG.AX

0.31%

GEM.AX

-1.53%

GLF.AX

-1.26%

GDG.AX

-2.95%

GNE.AX

GMD.AX

-0.88%

GTK.AX

-0.12%

GNP.AX

-1.35%

GMG.AX

-1.64%

GPT.AX

-2.74%

GQG.AX

-0.15%

GNG.AX

1.42%

GNC.AX

GGP.AX

-0.29%

GOZ.AX

-3.04%

GCI.AX

-0.97%

GYG.AX

3.21%

GWA.AX

0.61%

HSN.AX

-0.89%

HVN.AX

-0.82%

HLS.AX

3.75%

HGH.AX

HM1.AX

0.91%

HLI.AX

-2.62%

HMC.AX

2.08%

HDN.AX

-1.99%

HUB.AX

-0.09%

IEL.AX

1.87%

IGO.AX

0.92%

ILU.AX

0.22%

IMD.AX

-1.01%

IFM.AX

-0.3%

IFT.AX

0.28%

INA.AX

-3.39%

ING.AX

-1.01%

IFL.AX

0.11%

IAG.AX

-0.5%

IDX.AX

-2.73%

IPX.AX

-0.22%

IPH.AX

-0.68%

IRE.AX

-0.91%

JHX.AX

-2.8%

JBH.AX

-4.75%

JDO.AX

-0.58%

JIN.AX

-3.8%

JMS.AX

2.88%

KAR.AX

-0.32%

KLS.AX

-1.54%

KCN.AX

0.57%

KKC.AX

-0.88%

L1G.AX

9.22%

LSF.AX

-0.58%

LRV.AX

-5.83%

LFS.AX

LLC.AX

-1.51%

LFG.AX

360.AX

0.35%

LIC.AX

-1.89%

LNW.AX

-1.53%

LIN.AX

-2.34%

LTR.AX

10.68%

LOT.AX

3.95%

LOV.AX

-0.52%

LYL.AX

-0.16%

LYC.AX

0.03%

MA1.AX

0.25%

MAF.AX

-1.02%

MGH.AX

-1.77%

MAH.AX

-3.61%

MQG.AX

-0.99%

MAQ.AX

MAD.AX

-1.75%

MFG.AX

-0.4%

MYX.AX

-0.48%

MMS.AX

-2.8%

MPL.AX

1.55%

MEK.AX

-1.25%

MP1.AX

3.98%

MCY.AX

-0.7%

MEZ.AX

0.19%

MSB.AX

0.6%

MLX.AX

0.3%

MTS.AX

0.26%

MOT.AX

1.06%

MXT.AX

0.52%

MFF.AX

0.63%

MIN.AX

14.35%

MI6.AX

-0.91%

MIR.AX

MGR.AX

-3.77%

MND.AX

1.69%

MYR.AX

-0.63%

MYS.AX

-0.34%

NAN.AX

NAB.AX

0.77%

NSR.AX

-4.38%

NGI.AX

0.4%

NWL.AX

-2.76%

NEU.AX

1.77%

NHC.AX

4.99%

NEM.AX

0.54%

NWS.AX

-2.88%

NXG.AX

2.76%

NXT.AX

-0.16%

NHF.AX

1.21%

NCK.AX

0.87%

NIC.AX

3.08%

NEC.AX

-2.74%

NST.AX

-0.27%

NVX.AX

-9.33%

NWH.AX

1.17%

NUF.AX

-1.39%

NXL.AX

-2.18%

OCL.AX

2.77%

OML.AX

-2.16%

OPH.AX

-1.14%

OBM.AX

-2.53%

ORI.AX

0.18%

ORG.AX

-0.74%

ORA.AX

-0.24%

PDN.AX

6.93%

PNR.AX

-1.5%

PGC.AX

PPC.AX

-1.04%

PPM.AX

2.31%

PRN.AX

0.57%

PPT.AX

0.73%

PCI.AX

PRU.AX

0.43%

PXA.AX

-2.13%

PLS.AX

5.91%

PNI.AX

-0.22%

PL8.AX

1.08%

PGF.AX

0.18%

PNV.AX

1.29%

PDI.AX

1.83%

PMV.AX

-1.93%

PME.AX

-2.35%

PFP.AX

-0.41%

PWH.AX

-2.69%

PYC.AX

-0.83%

QAN.AX

-0.62%

QBE.AX

-1.12%

QOR.AX

-0.63%

QAL.AX

-1.6%

QRI.AX

QUB.AX

0.34%

RAC.AX

0.29%

RMS.AX

-2.4%

RHC.AX

1.02%

REA.AX

-2.15%

RDX.AX

1.06%

REH.AX

-0.9%

RF1.AX

-1.82%

RPL.AX

-1.64%

RGN.AX

-1.83%

REG.AX

-0.67%

RRL.AX

0.91%

RWC.AX

RMD.AX

-0.61%

RSG.AX

-3.57%

RBD.AX

SGLLV.AX

-3.25%

RIC.AX

1.54%

RIO.AX

0.24%

RUL.AX

0.1%

RFF.AX

-2.05%

RYM.AX

-0.8%

SFR.AX

2.58%

SMI.AX

-5.13%

STO.AX

-0.08%

SCG.AX

-2.63%

SEK.AX

-1.98%

SHV.AX

1.19%

SRV.AX

-1.08%

SSM.AX

-1.54%

SGH.AX

1.05%

SHA.AX

SIG.AX

0.16%

SLX.AX

1.15%

SGM.AX

0.41%

SDR.AX

-4.1%

SKC.AX

SPZ.AX

3.75%

SIQ.AX

-0.8%

SHL.AX

-0.4%

S32.AX

0.78%

SX2.AX

2.08%

SXE.AX

4.17%

SPK.AX

-0.47%

SRG.AX

-1.08%

SBM.AX

-2.86%

SMR.AX

4.85%

SDF.AX

-1.43%

SGP.AX

-3.86%

SNZ.AX

-0.1%

SUN.AX

-0.88%

SRL.AX

2.69%

SUL.AX

-2.76%

SLC.AX

-2.37%

SNL.AX

-1.25%

SYL.AX

-2.08%

TAH.AX

0.24%

TEA.AX

0.2%

TNE.AX

-0.56%

TLX.AX

0.25%

TLS.AX

-1.12%

TPW.AX

-2.47%

A2M.AX

0.32%

TLC.AX

-0.63%

TWR.AX

-2.69%

TPG.AX

-0.09%

TCL.AX

-2.44%

TWE.AX

0.42%

TUA.AX

1.05%

TYR.AX

-3.83%

UNI.AX

-4.26%

VAU.AX

-2.46%

VNT.AX

0.09%

VCX.AX

-2.87%

VGN.AX

0.45%

VGL.AX

VEA.AX

0.14%

VUL.AX

3.15%

VSL.AX

-4.59%

WA1.AX

-1.15%

WGN.AX

-1.25%

WAM.AX

0.72%

WGB.AX

0.8%

WLE.AX

-0.36%

SOL.AX

0.83%

WPR.AX

-2.96%

WEB.AX

-0.12%

WBT.AX

-1.5%

WES.AX

-6.14%

WGX.AX

-0.4%

WBC.AX

0.61%

WHF.AX

-0.72%

WHC.AX

2.34%

WIA.AX

1.47%

WTN.AX

WTC.AX

-1.52%

WDS.AX

1.1%

WOW.AX

3.31%

WOR.AX

0.77%

XRO.AX

-3%

YAL.AX

0.36%

ZIM.AX

1.54%

ZIP.AX

-2.75%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	148.30	-0.5	-0.34
SSO ASX Small Caps	17.29	-0.06	-0.35
IVV S&P 500	69.89	0.18	0.26
NDQ Nasdaq	58.65	0.35	0.6
F100 FTSE 100	14.69	0.01	0.07
ASIA Asia Tech	15.20	0.14	0.93
IEU Europe	100.27	0.27	0.27
IEM Emerging Markets	85.57	0.54	0.64
Gold Gold	54.83	-0.12	-0.22
ACDC Battery Tech	133.05	3.53	2.73

COMMODITIES	Close($)	-/+	%
Gold	3,948.91	19.5467	0.5
Silver	47.59	0.04	0.08
Platinum	1,594.30	9.2978	0.59
Palladium	1,413.00	11.986	0.86
Ice Brent Crude	64.90	0.5	0.78
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6583	0.0011	0.17
Euro	1.1624	0.0025	0.22
British Pound	1.3208	0.0015	0.11
Canadian Dollar	1.3936	-0.0006	-0.04
New Zealand Dollar	0.5777	0.0014	0.24
Chinese Yuan	7.0960	-0.002	-0.03
Japanese Yen	152.7600	0.05	0.03

What We're Watching

10 Stocks We like Here & Now

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
DBI	Dalrymple Bay Infrastructure Ltd	4.38	-0.57%	32.93%	3.27 4.93
DDR	Dicker Data Ltd	10.41	-1%	21.08%	7.58 10.67
GQG	Gqg Partners Inc	1.62	-0.15%	-40.91%	1.54 2.85
HUB	Hub24 Ltd	116.38	-0.13%	68.49%	48.84 122.03
JHX	James Hardie Ind	32.92	-2.8%	-33.96%	27.32 58.82
MGR	Mirvac Group	2.30	-3.77%	10.65%	1.81 2.46
NSR	National Storage Reit	2.30	-4.17%	-3.23%	2.05 2.56
PDN	Paladin Energy Ltd	9.57	6.93%	-9.14%	3.93 11.40
WTC	Wisetech Global Ltd	71.19	-1.43%	-37.77%	67.80 141.61
XRO	Xero Ltd	146.23	-3%	-0.25%	134.00 196.52

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
ERA	Energy Resources	0.00	25
CRN	Coronado Global	0.35	20.69
MIN	Mineral Resource	48.46	14.35
CIA	Champion Iron	5.53	11.62
LTR	Liontown Resourc	1.14	10.68
L1G	L1 Group	1.13	9.22
EQT	Eqt Holdings	25.07	8.06
PDN	Paladin Energy	9.57	6.93
29M	29metals	0.47	6.9
CU6	Clarity Pharmace	4.90	6.29

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
DTR	Dateline Resourc	0.28	-11.9
NVX	Novonix	0.61	-9.33
DTL	Data#3	8.91	-6.51
DRO	Droneshield	3.91	-6.24
WES	Wesfarmers	86.97	-6.14
LRV	Larvotto Resourc	1.05	-5.83
SMI	Santana Minerals	0.74	-5.13
ARU	Arafura Rare Ear	0.29	-5
JBH	Jb Hi-fi	108.13	-4.75
DXS	Dexus	7.25	-4.73

OPINION

Latest Market Matters Opinions

30/10/2025 09:59

Active Growth Portfolio – Amendment

We are selling a property stock today

30/10/2025 09:56

The Bottom Line

We believe the last 24 hours has been a potential game changer for rate-sensitive stocks, they need to be executing well as likely rate cuts won’t be enough to push them higher.

ACTION

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Market Matters Content

What Matters Today: Is it time to “tweak” portfolios as hopes of RBA rate cuts fade

Morning report 30/10/2025

Afternoon Report

The Match Out: ASX falls on hotter inflation data, Uranium stocks surge

Afternoon report 29/10/2025

Ask James ASK A QUESTION

Ask James

Question asked 25/10/2025

Private Credit

James recently wrote a column for The Australian discussing private credit in which he opined that investing in this form of lending was highly risky. The example provided (from USA) equated the security as being equivalent to junk bonds. Could you please provide a more nuanced review focusing on offerings in Australia, perhaps even offering some suggestions where you view the risk vis a vis other higher return investments such as hybrids. Some managers such as Avari, Woodbridge and MaxCap offer private credit secured by first mortgages with low LVRs which I would have thought was vastly superior to junk bond status.

Thanks Bruce Phillips

Good Morning, James & Team,

Several commentators have mentioned that the private credit market is risky. How so? Do stocks like MXT & the like fall in the private credit category?
Does changing the volume in an existing share order without changing the price move the order in the queue?
Which would you consider to be a better investment, EOS OR DRO? The CEO of EOS was obviously talking up the book in a recent interview on Ausbiz .

How much weight would you ascribe to his very bullish forecasts? Many thanks & Cheers Sidney

Ask James

Question asked 25/10/2025

RMD coming quarterly results

Good morning MM team, My best wishes on the new venture. Please keep us updated on how the funds progress. I'm a happy investor in Resmed (RMD) and I'm looking for an opportunity to top up my position. The share price has struggled since end of August and I wonder if all the negativity around the health sector in the US, tariffs and the rumours about Phillips coming back with an offering are already factored in the price. Or am I missing something? They report quarterly results on 30 October and I would like to get your perspective as to what could be a good result (i.e. what could beat consensus). Thanks for the answers to all my previous questions. Regards, Angela

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Morning Report

What Matters Today: Is it time to “tweak” portfolios as hopes of RBA rate cuts fade

Morning report 30/10/2025

Afternoon Report

The Match Out: ASX falls on hotter inflation data, Uranium stocks surge

Afternoon report 29/10/2025

Ask James ASK A QUESTION

Ask James

Question asked 25/10/2025

Private Credit

Thanks Bruce Phillips

Good Morning, James & Team,

Several commentators have mentioned that the private credit market is risky. How so? Do stocks like MXT & the like fall in the private credit category?
Does changing the volume in an existing share order without changing the price move the order in the queue?
Which would you consider to be a better investment, EOS OR DRO? The CEO of EOS was obviously talking up the book in a recent interview on Ausbiz .

How much weight would you ascribe to his very bullish forecasts? Many thanks & Cheers Sidney

Ask James

Question asked 25/10/2025

RMD coming quarterly results

Latest View Points

MPL

WOW

HVN

WBC

MGR

SFR

WIRE