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Market Overview – 26 May 2025
The S&P/ASX 200 concluded the day with a nominal gain of just 0.1 points, ending at 8,361, marking a slight uptick of 0.1%. It was a relatively subdued trading session for the index, primarily characterised by fluctuations in the gold and uranium sectors, both of which saw robust movements today.
Key Market Indices
| Index | Value | Percentage Change |
|---|---|---|
| ASX 200 | 8,361.0 | +0.00% |
| All Ords | 8,588.8 | +0.02% |
| Small Ords | 3,187.8 | -0.01% |
| All Tech | 3,929.7 | +0.42% |
| Emerging Companies | 2,267.4 | +0.20% |
Currency and US Futures
| Item | Value | Percentage Change |
|---|---|---|
| AUD/USD | 0.6491 | – |
| S&P 500 | 5,882.25 | +1.12% |
| Dow Jones | 42,086.0 | +0.99% |
| Nasdaq | 21,244.25 | +1.28% |
Market Dynamics
Despite the S&P/ASX 200’s minimal movement, the trading wave moved significantly within select sectors. The Gold sector emerged as the standout performer, appreciating by 2.0% in response to favourable shifts in gold prices observed last Friday. However, pricing remains constrained in Asian trading due to US markets being closed today for Memorial Day.
The Information Technology sector also noted gains, especially tallied by Wisetech Global (WTC), which surged on news of its acquisition of US competitor e2open for $2.1 billion. This acquisition is deemed pivotal for expanding Wisetech’s global footprint, evident in WTC’s 4.7% rise. Another tech firm, Appen (APX), saw a significant 10.5% gain, reflecting broader positivity in tech stocks.
Conversely, utilities marked the most significant decline at -2.39%, while the energy sector nudged down by -0.02%. Overall, the market breadth was fairly narrow, with decliners slightly outpacing advancers by 141 to 130 in the broader S&P/ASX 300.
Uranium Market Resurgence
Another highlight was the uptick in ASX uranium stocks, attributed to recent executive orders aimed at boosting the United States’ capabilities in nuclear energy production. Four orders signed by the Trump administration aim to quadruple nuclear output, positively reflecting on uranium-related stocks across the Australian market.
Economic Highlights
- Today’s Observations: US markets were closed for Memorial Day.
- Upcoming Economic Data:
- Tuesday: USA Core Durable Goods Orders (forecast -0.1%).
- Wednesday: USA CB Consumer Confidence and Australia CPI data expected.
- Thursday: FOMC Meeting Minutes and Preliminary GDP data from the USA.
- Friday: Pending Home Sales in the USA and Retail Sales from Australia.
Notable Movers
Gainers:
- Focus Minerals (FML) surged by 82.6% following the sale of its Laverton Gold Project.
- Deep Yellow (DYL) appreciated by 13.7%, buoyed by general strength in uranium stocks and an upgrade to ‘Hold’ from Jefferies.
- Appen (APX), along with several uranium stocks, capitalised on market momentum.
Losers:
- Larvotto Resources (LRV) and Elders (ELD) saw declines of 8.2% and 6.7%, respectively, in a day that primarily favoured resource sector gains.
Broker Updates
Several stocks saw changes in analyst ratings:
- Deep Yellow (DYL) upgraded to ‘Hold’ with a price target of $1.00.
- Bendigo and Adelaide Bank (BEN) received mixed updates from various analysts, with price targets adjusted from $11.60 to $10.80.
Conclusion
Overall, today’s market activity reflected a cautious approach as traders await further insight into economic indicators throughout the week. With volatility present in select sectors, notably gold and uranium, analysts are keenly observing for trends that may develop as the week progresses.
