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Highlights
- ASX 200 likely to open slightly lower despite Wall Street gains
- Trade optimism lifts global equities and supports commodities
- Small caps see active corporate developments and funding updates
The Australian share market is poised for a marginal dip at the open, with ASX 200 futures suggesting a 6-point pullback, or 0.07%, despite a strong showing from Wall Street. The local benchmark ended Monday up 0.33% at 8,542, notching its third consecutive monthly gain and a record monthly close.
Global Sentiment Lifts on Trade Progress
Global equities began the new quarter with renewed optimism, spurred by easing trade tensions. Canada’s move to drop its digital services tax reinvigorated negotiations with the US, while the European Union appeared open to a broader trade agreement involving a uniform 10% export tariff. This shift helped lift US benchmarks, with the S&P 500 and Nasdaq Composite both closing at record highs after rising 0.5%, while the Dow Jones climbed 0.6%.
Despite these gains, uncertainty remains ahead of the July 9 deadline for new US trade penalties. Treasury signals suggest action could proceed even if discussions are still in progress. Meanwhile, speculation around potential interest rate adjustments continues, though US policymakers are maintaining a cautious tone.
ASX 200 Stock Landscape and Sector Movements
Back in Australia, healthcare and industrial sectors led Monday’s advance, balancing out softness in materials. While corporate headlines were relatively sparse, Suncorp (ASX:SUN) shared that its FY26 reinsurance program would cost less than the previous year, supporting its strategic margin target. Domain Holdings (ASX:DHG) progressed with its scheme meeting, as an independent review validated the CoStar proposal within a valuation range of $4.06–$4.46.
Small Cap Updates: Funding Moves and Strategic Deals
The S&P/ASX Small Ordinaries Index rose 0.36% to 3,247.70 on Monday. Activity among small caps included:
- Sprintex Ltd (ASX:SIX) extended $2.85 million in funding via loans and convertible notes, supporting negotiations around a potential €4.8 million deal with the Van Drie Group in Europe.
- Orthocell Ltd (ASX:OCC) reported record quarterly revenue of $2.73 million, driven by growing domestic demand for its Remplir™ nerve repair device, with US market expansion anticipated in FY26.
- Cyprium Metals Ltd (ASX:CYM) secured a $2.5 million progress payment tied to surplus generator sales, with finalisation now targeted for Q3 amid external delays.
- Krakatoa Resources Ltd (ASX:KTA) raised an additional $357,000 through a top-up placement, bringing its June funding tally to $1.66 million.
Commodities and Currency Moves
Gold climbed 1.1% to US$3,304/oz as the US dollar softened, helping support safe-haven assets. Oil prices eased slightly, with WTI crude falling 0.8% to US$64.99/barrel. Iron ore stayed steady at US$94.47/tonne, while the AUD/USD hovered around 0.6581.
Investors will closely monitor today’s macroeconomic releases, including China’s Caixin Manufacturing PMI and US job openings data. Locally, Ricegrowers trades ex-dividend and Australia’s May manufacturing and home price figures are set to be released.
