Australian shares (and maybe Oz traders) are starting the new financial year in a grumpy mood, with ASX 200 futures tipping a -0.19% as FY25-26 gets underway.
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That’s despite Wall Street’s big hikes: The S&P 500 and the Nasdaq composite both reset closing highs as the U.S. ticked over the last day of its financial year with a +0.5% gain. Aussie shares haven’t been interested in following.
That may change through July 1 today, but with little expected on the data front and no grand news expected — which doesn’t mean it won’t drop, of course — Australian trading may just tick over red through Tuesday today.
It’s not overly surprising to see Wall Street and Sydney traders divided; Europe’s leading FTSE dropped -0.4% and the Asia Dow retreated around -0.25%.
Sentiment is simply split, best shown by Shanghai ignoring its sister index to add +0.6%.
One slice of Aussie news that may impact sectors – mainly energy – is that the Labor gov’t is running a “holistic review” of the gas market. Sector leaders like Woodside (ASX:WDS) and Whitehaven (ASX:WHC) are already down for the week.
Nine Entertainment (ASX:NEC) is one to watch, too, after it bought the EPL rights.
So too June debutant LINQ Minerals (ASX:LNQ), after it crashed -13% on its first trade day.
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Looking at forex, the Aussie dollar is 65.8 US cents.
And to commodities, all in the greenback,
Iron Ore has retreated -0.3%, to $94.20 a tonne in Singapore,
Brent Crude is at $66.59,
Gold is at $3,305 per ounce, and,
US natgas futures are a whopping -7.6% lower at $3.45 per gigajoule.
That’s Market Open, I’m Isaac McIntyre, stick with us for HotCopper’s Market Update.
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