AUS
NZ
UK
CA
USA
IND
Highlights
- ASX 200 likely to see subdued session amid global uncertainties
- Gold producers deliver steady quarterly performance
- RBA policy decision expected tomorrow, markets anticipate easing
The Australian share market is poised for a quiet start, with the ASX 200 futures showing no change as of 8:30 am AEST. This comes as global markets digest fresh uncertainties surrounding international trade and await key local monetary policy updates. With US markets closed for Independence Day and European equities edging lower, the local bourse enters a holding pattern, driven largely by corporate updates in the gold sector.
Global Cues Create Uncertainty
European indices took a hit overnight, with the Stoxx Europe 600 slipping 0.5%, Germany’s DAX down 0.6%, and France’s CAC 40 falling 0.8%. Concerns about escalating tariff threats from the US added to the cautious sentiment. Though steep duties have yet to take effect, the tone of global trade negotiations has turned more tense, stirring modest volatility in equity markets.
Spotlight on Gold Sector Results
In Australia, attention shifts to quarterly updates from leading gold miners. Several have released FY25 production figures largely aligned with prior guidance, supporting the broader resource sector.
- (ASX:ALK) reported 70,100 ounces produced from its Tomingley operations, in line with its 70–80koz forecast. The company also increased its financial standing, with cash, bullion, and investments rising to A$68.3 million.
- (ASX:NST) posted FY25 sales of 1.634 million ounces, comfortably within the 1.63–1.66Moz range.
- (ASX:RMS) slightly outperformed, recording Q4 output of 73.5koz, taking full-year production just above its 290–300koz guidance.
- (ASX:RRL) delivered 373koz for the year, within its expected 350–380koz range.
Among these, Northern Star Resources falls under the top ASX 200 category, placing it in a prominent position amid ongoing global economic shifts.
Monetary Policy in Focus
The Reserve Bank of Australia (RBA) kicks off its two-day July policy meeting today. While markets largely anticipate a 25-basis-point cut to 3.60%, traders remain alert to any deviations from the expected path. Further rate adjustments may follow later this year depending on evolving macroeconomic conditions.
Broader Market and Commodity Trends
Friday's session saw the S&P/ASX 200 edge 0.08% higher, while the ASX Small Ordinaries Index added 0.095%. Today, volumes may remain light in the absence of major economic or earnings updates.
In commodities, OPEC+ surprised by raising oil output targets, causing oil prices to dip. WTI crude fell 0.74% to US$66.46, while Brent crude declined to US$68.29. Gold remained stable at US$3,335 per ounce, and copper rose 0.41% to US$5.04 per pound. Iron ore held at US$96.24 a tonne on optimism around Chinese stimulus.
Market Movers and Calendar
Elsewhere in small caps, (ASX:AZY) secured A$40 million to advance its Minyari Gold-Copper Project, while (ASX:DYM) received regulatory approvals for drilling activities at Chalice South.
Today’s domestic calendar is quiet, with ANZ-Indeed job ads data at 11:30 am AEST. European industrial and retail data will be watched later in the day, with (ASX:CKF) and (ASX:KAT) trading ex-dividend.
As markets await the RBA's decision, attention remains on stability in the gold sector and ongoing trade developments worldwide.
