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OPINION
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ANALYSIS

Market Analysis

4DX.AX

-4.01%

ABG.AX

AIS.AX

-3.8%

AGL.AX

0.12%

A1M.AX

AIZ.AX

AAI.AX

-2.83%

ALK.AX

-5%

A4N.AX

-3.67%

ALQ.AX

-7.59%

AMC.AX

-0.26%

AOV.AX

0.15%

AMP.AX

-0.94%

AEL.AX

4.67%

ALD.AX

-0.8%

ANN.AX

-1.27%

ANZ.AX

1.42%

APA.AX

0.59%

ARU.AX

-4.88%

ARB.AX

-0.55%

ARF.AX

0.32%

ARG.AX

-0.33%

ALL.AX

-0.99%

AYA.AX

-1.91%

APZ.AX

0.62%

ASX.AX

-1.24%

ALX.AX

-0.4%

AUB.AX

-2.4%

AIA.AX

-0.14%

AXQ.AX

-11.08%

AMI.AX

-5.97%

AZJ.AX

-0.7%

ABB.AX

-2.96%

ASB.AX

2.38%

AAC.AX

-0.36%

AFI.AX

AUI.AX

-0.44%

BOQ.AX

0.31%

BMN.AX

-4.9%

BCI.AX

-1.11%

BPT.AX

2.26%

BGA.AX

BGL.AX

-4.53%

BEN.AX

-0.46%

BNZ.AX

8.31%

BHP.AX

-2.94%

BKI.AX

-0.81%

BC8.AX

-5.91%

XYZ.AX

-0.29%

BSL.AX

-0.71%

BOE.AX

-5.11%

BXB.AX

0.21%

BVS.AX

-2.06%

BRE.AX

-5.74%

BRG.AX

-2.21%

BFL.AX

0.12%

BWP.AX

-0.26%

CMM.AX

-6.08%

CSC.AX

-4.99%

CAR.AX

-3.9%

CIN.AX

-0.24%

CYL.AX

-6.32%

CAT.AX

-2.29%

CWP.AX

-0.43%

CNI.AX

-8.49%

CIP.AX

COF.AX

-0.57%

CGF.AX

-0.67%

CIA.AX

-1.02%

CHC.AX

-1.24%

CLW.AX

0.27%

CQR.AX

CQE.AX

0.39%

CNU.AX

-1.13%

C79.AX

-4.33%

CVL.AX

-0.88%

CU6.AX

-8.2%

CWY.AX

0.85%

CUV.AX

1.11%

CBO.AX

COH.AX

-0.45%

CDA.AX

-4.13%

COL.AX

CKF.AX

-0.9%

CBA.AX

CPU.AX

0.05%

CEN.AX

-4.85%

CXO.AX

-5.88%

CCP.AX

2.61%

CMW.AX

CSL.AX

-1.32%

CCL.AX

-0.63%

DBI.AX

1.96%

DTL.AX

-2.51%

DYL.AX

-5.96%

DRR.AX

-0.23%

DVP.AX

-5.95%

DXS.AX

-0.53%

DXI.AX

-0.41%

DDR.AX

-1.29%

DGT.AX

-1.92%

DJW.AX

DMP.AX

-1.6%

DOW.AX

-1.38%

DPM.AX

-1.68%

DRO.AX

-7.69%

DUR.AX

-1.3%

DNL.AX

-1.58%

APE.AX

-0.19%

EBO.AX

1.28%

EIQ.AX

0.38%

ELD.AX

-0.72%

EOS.AX

-4.85%

ELV.AX

-5.6%

ELS.AX

-5.86%

EMR.AX

-5.81%

EDV.AX

-0.59%

EQR.AX

-3.7%

EVN.AX

-2.42%

EVT.AX

0.58%

FDC.AX

0.29%

FCL.AX

-5.25%

FFM.AX

-7.3%

FPH.AX

-1.03%

FPR.AX

-0.71%

FBU.AX

-1.27%

FLT.AX

-1.43%

FML.AX

-3.95%

FRS.AX

-7.5%

FMG.AX

-1.01%

FGX.AX

-1.1%

FGG.AX

GLF.AX

-1.6%

GDG.AX

-5.24%

GNE.AX

-1.37%

GMD.AX

-4.4%

GNP.AX

-1.3%

GMG.AX

-2.65%

GPT.AX

0.61%

GQG.AX

-0.74%

GNG.AX

4.63%

GNC.AX

0.93%

GGP.AX

-6.35%

GOZ.AX

GCI.AX

-0.48%

GYG.AX

-2.96%

GWA.AX

-0.86%

HSN.AX

-2.93%

HVN.AX

0.21%

HGH.AX

1.75%

HM1.AX

-1.34%

HLI.AX

0.2%

HMC.AX

-3.48%

HDN.AX

-0.4%

HUB.AX

-3.05%

IEL.AX

-2.38%

IGO.AX

-5.07%

ILU.AX

-4.38%

IMD.AX

-4.01%

IMR.AX

2.13%

IFT.AX

-1.15%

INA.AX

-1.18%

ING.AX

0.91%

IAG.AX

1.42%

IDX.AX

-0.97%

IPX.AX

-7.81%

IPH.AX

0.5%

IRE.AX

-2.92%

JHX.AX

-0.19%

JBH.AX

-0.9%

JDO.AX

-1.62%

JMS.AX

1.92%

KAR.AX

10.84%

KLS.AX

-0.23%

KCN.AX

-6.85%

KKC.AX

-0.47%

GLS.AX

0.48%

LGF.AX

-3.55%

L1G.AX

-1.38%

LSF.AX

1.15%

LRV.AX

-3.42%

LFS.AX

-1.11%

LLC.AX

-3.1%

LFG.AX

-1.79%

360.AX

-4.35%

LIC.AX

-1.14%

LNW.AX

-2.6%

LIN.AX

-3.36%

LTR.AX

-7.42%

LOV.AX

-4.44%

LYL.AX

-0.9%

LYC.AX

-2.12%

MA1.AX

-0.25%

MAF.AX

-5.77%

MGH.AX

-2.92%

MAH.AX

-3.55%

MQG.AX

0.51%

MAQ.AX

-1.75%

MAD.AX

-1.61%

MFG.AX

-1.33%

MMS.AX

0.73%

MPL.AX

0.2%

MP1.AX

-3.25%

MCY.AX

-0.89%

MEZ.AX

-2.69%

MSB.AX

-4.31%

MLX.AX

-4.9%

MTS.AX

MEI.AX

-2.7%

MOT.AX

0.63%

MXT.AX

-0.52%

MFF.AX

-0.77%

MIN.AX

-2.33%

MI6.AX

-5.3%

MIR.AX

MGR.AX

MND.AX

-0.95%

MYS.AX

-0.41%

NAN.AX

-1.32%

NAB.AX

1.46%

NGI.AX

0.85%

NWL.AX

-4.16%

NEU.AX

NHC.AX

0.54%

NEM.AX

-1.53%

NWS.AX

-2.31%

NXG.AX

-2.08%

NXT.AX

-3.59%

NHF.AX

-0.13%

NCK.AX

-1.7%

NIC.AX

-5.65%

NEC.AX

-1.05%

NST.AX

-3.91%

NWH.AX

NUF.AX

3.52%

OCL.AX

-1.04%

OML.AX

-1.62%

OPH.AX

1.2%

OBM.AX

-3.67%

ORI.AX

-0.13%

ORG.AX

1.14%

ORA.AX

PDN.AX

-5%

PNR.AX

-6.1%

PPC.AX

PPM.AX

2.19%

PRN.AX

-2.73%

PPT.AX

-1.05%

PCI.AX

-0.45%

PRU.AX

-5.56%

PXA.AX

-3.49%

PNI.AX

-5.25%

PL8.AX

-0.35%

PLS.AX

-2.13%

PGF.AX

-2.42%

PNV.AX

-7.57%

PDI.AX

-6.67%

PMV.AX

-1.01%

PME.AX

-1.42%

PWH.AX

-0.83%

PYC.AX

-0.9%

QAN.AX

-1.96%

QBE.AX

1.39%

QAL.AX

-1.26%

QRI.AX

RMS.AX

-5.06%

RHC.AX

-0.07%

REA.AX

-3.66%

RDX.AX

-2.39%

REH.AX

1.15%

RF1.AX

-3.57%

RPL.AX

RG1.AX

-1.79%

RGN.AX

REG.AX

0.16%

RRL.AX

-5.98%

RWC.AX

0.84%

RMD.AX

-0.4%

RSG.AX

-7.04%

SGLLV.AX

-1.02%

RIC.AX

2.18%

RIO.AX

-1.69%

RXL.AX

2.67%

RFF.AX

2.3%

RYM.AX

1.34%

SFR.AX

-4.34%

STO.AX

1.53%

SCG.AX

-1.27%

SEK.AX

-1.6%

SHV.AX

2.8%

SRV.AX

2.29%

SSM.AX

-0.4%

SGH.AX

-1.32%

SHA.AX

0.75%

SIG.AX

-1.05%

SLX.AX

-5.28%

SGM.AX

-0.87%

SDR.AX

-4.86%

SKS.AX

-1.31%

SKC.AX

-6.31%

SIQ.AX

-1.01%

SHL.AX

2.02%

S32.AX

-3.65%

SX2.AX

-2.8%

SXE.AX

-1.5%

SPK.AX

SRG.AX

-2.84%

SBM.AX

-4.35%

SMR.AX

-0.35%

SDF.AX

-0.57%

SGP.AX

2.23%

SKG.AX

-1.16%

SUN.AX

0.9%

SRL.AX

-3.9%

SUL.AX

-0.55%

SLC.AX

-2.83%

SNL.AX

4.39%

SYL.AX

2.17%

TAH.AX

TEA.AX

-2.45%

TNE.AX

-3.9%

TLX.AX

-3.36%

TLS.AX

-0.81%

TPW.AX

-0.8%

A2M.AX

0.29%

TLC.AX

-0.91%

SGR.AX

TVN.AX

-5.08%

THL.AX

0.42%

TWR.AX

TPG.AX

-0.57%

TCL.AX

-0.62%

TWE.AX

2.6%

TUA.AX

-1.4%

TCG.AX

-8.8%

UNI.AX

-1.27%

VAU.AX

-4.53%

VNT.AX

-0.34%

VCX.AX

0.76%

VGN.AX

-0.75%

VEA.AX

VUL.AX

-3.72%

VSL.AX

-1.68%

VYS.AX

WA1.AX

-1.84%

WGN.AX

WAM.AX

-0.95%

WGB.AX

-0.89%

WLE.AX

0.36%

SOL.AX

-0.33%

WPR.AX

WQG.AX

-2.46%

WEB.AX

1.18%

WBT.AX

-0.38%

WES.AX

-0.98%

WAF.AX

-5.08%

WGX.AX

-2.53%

WBC.AX

1.36%

WHF.AX

WHC.AX

-0.77%

WIA.AX

-5.68%

WTC.AX

-4.64%

WDS.AX

1.79%

WOW.AX

0.67%

WOR.AX

-0.84%

XRO.AX

-4.45%

YAL.AX

-2.26%

ZIM.AX

1.22%

ZIP.AX

-4.91%

POPULAR ETFs	Close($)	+/-	%
A200 ASX 200	146.24	-1.22	-0.83
SSO ASX Small Caps	13.96	-0.39	-2.72
IVV S&P 500	70.60	-0.39	-0.55
NDQ Nasdaq	59.12	-0.8	-1.34
F100 FTSE 100	15.05	-0.14	-0.92
ASIA Asia Tech	19.60	-0.75	-3.69
IEU Europe	96.72	-1.11	-1.13
IEM Emerging Markets	91.70	-2.32	-2.47
Gold Gold	52.78	-0.98	-1.82
ACDC Battery Tech	123.71	-3.52	-2.77

COMMODITIES	Close($)	-/+	%
Gold	4,052.59	5.4374	0.13
Silver	58.24	0.5667	0.98
Platinum	1,588.30	-11.95	-0.75
Palladium	1,244.18	-12.7201	-1.01
Ice Brent Crude	101.04	6.97	7.41
CURRENCIES	Close($)	-/+	%
Australian Dollar	0.6980	0.0013	0.19
Euro	1.1369	-0.0005	-0.04
British Pound	1.3324	0.0011	0.08
Canadian Dollar	1.4096	0.0014	0.1
New Zealand Dollar	0.5788	0.0017	0.29
Chinese Yuan	6.7719	0.0018	0.03
Japanese Yen	163.8200	-0.03	-0.02

What We're Watching

ASX Resource stocks we own

Code	Company	Price($)	Today	1 Year Return	52 Week Range($)
A1M	Aic Mines Ltd	0.68	0%	100.00%	0.30 0.85
BGL	Bellevue Gold Ltd	1.27	-4.53%	0.00%	0.78 2.00
BHP	Bhp Group Ltd	58.85	-2.94%	44.87%	39.18 65.98
FMG	Fortescue Ltd	18.57	-1.01%	3.02%	17.68 23.38
NHC	New Hope Corporation Ltd	5.59	0.54%	26.94%	3.77 6.17
WHC	Whitehaven Coal Ltd	7.75	-0.77%	8.77%	5.94 9.90
NEM	Newmont Cdi	134.76	-1.53%	0.00%	95.05 190.91
NXG	Nexgen Ene Cdi	13.16	-2.08%	0.00%	9.98 20.47
SFR	Sandfire Resources Ltd	18.52	-4.34%	71.78%	10.11 21.75

10 Top Gainers | <$500m

Code	Company	Last($)	% Chg
KAR	Karoon Energy Lt	1.79	10.84
BNZ	Benz Mining-cdi	3.26	8.31
AEL	Amplitude Energy	1.68	4.67
GNG	Gr Engineering S	5.65	4.63
SNL	Supply Network	33.06	4.39
NUF	Nufarm	2.94	3.52
SHV	Select Harvests	4.41	2.8
RXL	Rox Resources	0.39	2.67
CCP	Credit Corp Grou	13.77	2.61
TWE	Treasury Wine Es	4.73	2.6

10 Biggest Fallers | <$500m

Code	Company	Last($)	% Chg
AXQ	Aura Consolidate	3.13	-11.08
TCG	Turaco Gold	0.57	-8.8
CNI	Centuria Capital	1.46	-8.49
CU6	Clarity Pharmace	2.35	-8.2
IPX	Iperionx	3.07	-7.81
DRO	Droneshield	2.04	-7.69
ALQ	Als	20.46	-7.59
PNV	Polynovo	0.86	-7.57
FRS	Forrestania Res	0.37	-7.5
LTR	Liontown	1.19	-7.42

OPINION

Latest Market Matters Opinions

24/07/2026 17:04

Broker Moves

• James Hardie GDRs Raised to Hold at Morgans Financial Limited • Lynas Raised to Lighten at Ord Minnett; PT A$15 • Paladin Energy Cut to Lighten at Ord Minnett; PT A$8.50 • Karoon Energy Raised to Outperform at RBC; PT A$2 • James Hardie GDRs Cut to Neutral at Jarden Securities • James Hardie GDRs Raised to Overweight at Barrenjoey; PT A$42 • Insurance Australia Cut to Neutral at JPMorgan; PT A$8.45 • Sandfire Cut to Neutral at JPMorgan; PT A$19 • PolyNovo Cut to Hold at Bell Potter; PT A$1

24/07/2026 17:03

What Mattered Today

The ASX 200 finished firmly lower today as renewed escalation in the Middle East pushed oil back toward US$100/barrel, reigniting inflation and interest-rate concerns. The Aussie 3-year bond yield was up +10bps to 4.72%, while the 10 year yield pushed through 5%, settling at 5.08%.

ACTION

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Market Matters Content

ETF Friday: 3 Global ETFs that provide insight into investor positioning

Morning report 24/07/2026

Afternoon Report

The Match Out: Inflation concerns hit the ASX, Tech the major casualty

Afternoon report 24/07/2026

Ask James ASK A QUESTION

Ask James

Question asked 24/07/2026

Miners and Resources “super cycle”

Hi MM, We are hearing a lot about a resources super cycle. Why then do we see (in the Tuesday morning MM report for example) "fund managers increased healthcare and reduced energy & miners – similar to the ASX." Why is there this disconnect and have these fund managers not subscribed to the 'super cycle' story? Alain

Ask James

Question asked 24/07/2026

Refinement To MM’s process and comments on Coast Entertainment (ASX: CEH) & Arafura Rare Earths Ltd (ASX: ARU)

Refinement To MM's process article dated 20Jul, is the best coming out from your investment team. Over many years of learning from trial and error, MM has nailed and reaffirmed the majority of my own investment lessons. It is always still evolving! Loved your truthfulness and sharing the continuous learnings. Appreciate your comments and views on ARU and CEH.

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