After a languid -0.4% drop through Monday, Australian shares are still feeling rudderless as we head towards Tuesday’s open: While it’s green across global markets, ASX 200 futures are pointing towards a flattish start to trade.
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Browsing overnight action for markets in the U.S., Europe, and Asia brings up mostly green arrows, including a +0.25% rise for both Wall Street’s S&P 500 and the Dow Jones, as well as a similar trend for London’s FTSE.
The Nikkei, always swinging a little wider, gained as much as +1.45%; a rise not much stilted by Japan’s Prime Minister Ishiba resigning this week.
And the Nasdaq even cracked a new record at 21,798 points.
Through all that, Oz traders aren’t quite sold; we’re eyeing a -0.03% dip to start.
It’s not the most surprising, considering September is often a choppy month for the local bourse, though it is a little odd Australian traders aren’t taking cues from the global bellwethers – that may change intraday.
A spike in long-dated yields and then just the usual pullback after a strong rally are also playing parts, we’re sure, so nothing to worry about yet.
ASX stocks to watch
In company news, ANZ (ASX:ANZ) is looking to cut as many as 4,500 jobs through the next year to tighten costs and navigate “internal complexity.” The big four bank suggested customer-facing roles would mainly be kept.
Elsewhere, Coles (ASX:COL) and Woolworths (ASX:WOW) are still in headlines amid “the biggest underpayment scandal in Australian history.” Both supermarket giants now expect to pay up to $250 million in remediation.
DroneShield’s (ASX:DRO) continued CY25 rise has seen it added to the ASX 200; Greatland Resources (ASX:GGP) has similarly made the top-cut in the reshuffle.
Heading the other way are PolyNovo (ASX:PNV), Nufarm (ASX:NUF), and more.
And, Infini Resources (ASX:I88) has started its maiden field program at Reynolds Lake. Its priority target is systemic soil sampling.
Buck and ore
Now – in forex, the Aussie dollar buys 65.9 US cents.
And to commodities, all in the greenback,
Iron Ore is up +0.7%, selling at $105.60 a tonne in Singapore,
Brent Crude is at $66.23,
Gold has kept its September rally going, selling at $3,643 per ounce, and,
US natgas futures are up +1.5%, at $3.09 per gigajoule.
That’s HotCopper’s ASX Market Open, I’m Isaac McIntyre – good luck, happy trading.
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