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Highlights
- ASX 200 set to rise as confidence surveys and interest rate expectations drive sentiment
- Strong sectoral gains led by Financials and Energy boost broader market optimism
- Small-cap momentum supported by updates from companies including (ASX:TTM) and (ASX:SVM)
The Australian share market is positioned for a positive start today, with S&P/ASX 200 futures pointing to an early rise. Last week, the benchmark index climbed 0.96% to close at 8,516 points, marking its seventh weekly gain in eight weeks. This momentum was driven by a softer-than-expected March quarter GDP reading and a positive lead from US equities, fueling expectations of more interest rate cuts from the Reserve Bank of Australia later this year.
Sector Snapshot and Market Movers
Investor enthusiasm was broadly shared across the market, with Financials up 2.32%, Energy gaining 1.57%, and Information Technology rising 1.34%. However, Health Care underperformed, slipping 0.47%. Standout performances included (ASX:HE8), which surged over 30%, (ASX:ATX) with a 27.27% gain, and (ASX:MIN) advancing 21.09%. Meanwhile, (ASX:DRO) also gained strongly. On the downside, (ASX:IEL) saw a steep 51.94% fall due to an earnings downgrade.
Investors are now awaiting domestic Consumer and Business Confidence surveys. The Westpac-Melbourne Institute Consumer Sentiment Index is forecast to climb to 94.4, buoyed by recent market strength and last month’s 25 basis point rate cut. There is growing speculation that another reduction could occur as early as July, with futures pricing suggesting an 80% chance of a 25bp cut and up to 70bp of easing by year-end. These conditions could benefit ASX dividend stocks, which tend to attract attention in lower rate environments.
Global Cues Add to Optimism
Overseas, Wall Street ended the week on a high note after US job data showed 139,000 new roles were added in May. Although previous months were revised lower, the unemployment rate held steady at 4.2%. Meanwhile, China-US trade discussions resumed in London, with rare earth exports and tariffs high on the agenda. Oil prices spiked on hopes of a resolution, lifting Brent crude to US$67.04.
In Europe, markets remained subdued ahead of the trade talks, with the FTSEurofirst 300 easing 0.1%. The Australian dollar traded modestly lower, while base metals including copper and aluminium posted gains.
Small-Cap Activity Remains High
In the small-cap space, (ASX:TTM) resumed drilling at its Dynasty Gold Project in Ecuador after weather delays, targeting a resource update by Q3 2025. (ASX:SVM) received confirmation from Japan’s Toho Titanium on the suitability of its Kasiya project’s rutile for high-spec aerospace-grade titanium.
Meanwhile, (ASX:SLM) announced plans to delist from the TSX Venture Exchange, aiming to streamline operations under a single listing on the ASX. Also active is (ASX:KTA), advancing exploration at its antimony-gold project in Georgia.
For more on broader market trends and key movers, stay updated on the S&P/ASX200 and related insights throughout the day.
