AUS
NZ
UK
CA
USA
IND
_06_25_2026_03_53_23_801064.jpg)
The Australian sharemarket saw a decline on Monday as concerns grew over the timing of a potential interest rate cut by the Reserve Bank of Australia (RBA). With inflation still elevated, the RBA is widely expected to keep the cash rate steady at 4.35% for the seventh consecutive meeting on Tuesday. Market predictions suggest the first rate cut may be pushed into next year, potentially affecting investor sentiment.
By early Monday afternoon, the S&P/ASX 200 had shed 0.6%, or 47 points, to 8162.5, pulling back from Friday’s record high of 8209.5. This retreat followed global equity gains last week driven by the Federal Reserve’s bold half-percentage-point rate cut.
Consumer Stocks Lead Declines
Among the hardest-hit sectors were consumer-related stocks. Coles Group Ltd (ASX:COL) dropped 3.6% and Woolworths Group Ltd (ASX:WOW) fell 3.5%, making it one of their worst trading days this year. The declines came after the competition regulator filed a lawsuit accusing both companies of misleading consumers with discount claims on common products.
Miners also faced challenges, with lower iron ore prices putting pressure on the sector. BHP Group Ltd (ASX:BHP) fell 1.4%, while Rio Tinto Ltd (ASX:RIO) lost 0.9%. However, South32 Ltd (ASX:S32) managed to buck the trend, rising 0.3% after its Hermosa project in Arizona was selected for a $US166 million ($244 million) award negotiation by the U.S. Department of Energy.
Gold and Uranium Stocks Surge
Gold miners were among the rare bright spots as gold prices reached a fresh high of $US2630.93. Escalating tensions in the Middle East have boosted demand for safe-haven assets like gold, which has risen by 27% this year. Ramelius Resources Ltd (ASX:RMS) saw a 1.6% gain, while West African Resources Ltd (ASX:WAF) increased by 1.9%.
Uranium stocks also experienced significant gains, with Bannerman Energy Ltd (ASX:BMN) up 10.3%, Boss Energy Ltd (ASX:BOE) rising 9.5%, and Paladin Energy Ltd (ASX:PDN) increasing by 7.1%. These moves were fueled by news of Microsoft (NASDAQ:MSFT)'s deal to revive the U.S.-based Three Mile Island nuclear plant. The tech giant plans to secure 100% of the plant’s power for 20 years, signaling strong future demand for nuclear energy.
Industry experts highlighted this development as a positive indicator for the nuclear sector, noting the growing trend among corporations to embrace nuclear energy as part of their clean energy strategies.
Mixed Results for Banks and Other Stocks
The major banks experienced mixed results, with Commonwealth Bank of Australia (ASX:CBA) down 1.3% and Westpac Banking Corp (ASX:WBC) edging up 0.3%.
Travel services provider Webjet Ltd (ASX:WEB) took a significant hit, falling 11% following the completion of its demerger into two separate entities—Webjet Group and WEB Travel Group.
Shares in property listing company REA Group Ltd (ASX:REA) dropped 1.8% after it raised its bid for UK-based Rightmove to £7.70 per share. Meanwhile, defence shipbuilder Austal Ltd (ASX:ASB) gained 3% after securing a $US152 million ($220 million) contract with the U.S. Navy.
Pharmaceutical company Telix Pharmaceuticals Ltd (ASX:TLX) rose 1.1% after announcing its acquisition of U.S.-based RLS (USA) for $US230 million ($338 million). Similarly, Healius Ltd (ASX:HLS) erased earlier losses and climbed 5.6% after revealing the sale of Lumus Imaging to Affinity Equity Partners for $965 million in cash and other considerations.
In contrast, global engineering firm Worley Ltd (ASX:WOR) fell 0.9%, despite securing a fresh contract in Oman. Fletcher Building Ltd (ASX:FBU) entered a trading halt as it launched a $NZ700 million ($641 million) capital raising through a fully underwritten placement and pro-rata entitlement offer.
As the market remains cautious, especially with uncertain interest rate policies and global economic factors in play, the rise in gold and uranium stocks highlights the potential for investors to shift towards safe-haven and energy-focused assets.
