AUS
NZ
UK
CA
USA
IND
Highlights
- Global markets rally on tech and transport strength
- FireFly Metals expands funding for copper-gold project
- Commodities rebound amid China stimulus optimism
Australian shares are expected to rise on Friday, tracking record-setting sessions in major global markets. Gains in key sectors like resources and investor confidence outweighed renewed trade tensions, lifting sentiment ahead of the local open.
Wall Street & Global Cues
US stocks ended at all-time highs, with the S&P 500 and Nasdaq reaching fresh peaks. Enthusiasm in the tech and transport sectors powered the rally, as upbeat corporate forecasts and ongoing AI-driven momentum supported broader gains. Notably, (NASDAQ:NVDA) saw its valuation cross US$4 trillion — a first for a listed company — while (NASDAQ:TSLA) surged following announcements around its robotaxi expansion.
European markets echoed this strength, with the FTSE 100 notching a second straight record close. Mining shares surged over 3%, boosted by expectations of renewed stimulus in China — a theme that also underpinned commodity prices.
Despite fresh US tariff headlines, including a 50% levy on copper from August 1, investor appetite remained resilient. Market focus now turns to next week's US inflation data and corporate earnings season.
ASX Outlook & Corporate Developments
The ASX 200 futures climbed 27 points (0.31%) by 8:30 am AEST, signaling a positive start for the index. This follows a 0.59% gain on Thursday, led by materials, gold, and financial stocks. Industrial and property names also contributed to the rally. Overnight commodity strength is expected to support further upside momentum.
One of the day’s key developments includes (ASX:FFM) FireFly Metals Ltd, which doubled its Share Purchase Plan to A$10 million after receiving applications worth $28.2 million. With total cash and liquid assets now around $145 million, the company is well-positioned to fund exploration and development at its Green Bay copper-gold project.
In gold production, (ASX:OBM) Ora Banda Mining Ltd reported a 32% year-on-year rise in output to 94,000 ounces for FY25. Looking ahead, guidance for FY26 stands between 140,000 and 155,000 ounces, driven by Sand King Underground ramp-up and a proposed ore sale deal.
Additionally, (ASX:TTM) Titan Minerals Ltd shared promising trenching results from its Cerro Verde prospect, including 6.4m @ 2.3 g/t gold and 12.1 g/t silver. Two rigs are active as part of ongoing resource development, with updates expected in Q3.
The ASX 200 is set to stay in focus as investors continue to weigh global cues against domestic resilience.
Commodities & Currency Update
Copper surged 2.6% to US$11,171.20/tonne, while iron ore gained 1.5% to US$96.76/tonne. Gold edged 0.3% higher to US$3,323.72/oz. Oil declined, with WTI down 2.3% to US$66.83/barrel amid OPEC+ production rumors. The Australian dollar strengthened to 0.6583 against the US dollar.
Bitcoin extended its rally to a new high at US$116,104, rising 4.3% overnight.
Looking ahead, markets will monitor UK GDP and Canadian employment data, along with ongoing developments in the rare earths sector after the US pledged investment support.
