Wed 15 Jul 2026 at 4:30pm
Market snapshot
- ASX 200: +0.37% to 8,841 points (close)
- Australian dollar: +0.22% to 69.89 US cents
- Wall Street: Dow Jones (flat), S&P 500 (+0.4%), Nasdaq Composite (+0.9%)
- Europe: Stoxx 600 (+0.2%), FTSE (+0.3%)
- Asia: KOSPI (+6.7%), Nikkei (+0.9%)
- Spot gold: -0.7% at $US4,025/ounce
- Brent crude futures: +0.73% to $US85.35/barrel
- WTI futures: +0.38% to $US79.67/barrel
- Iron ore: +0.2% to $US99.6/tonne
- Bitcoin: +0.65% to $US64,946
Prices current at around 4:25pm AEST
Live updates on the major ASX indices:
Wed 15 Jul 2026 at 5:01pm
That’s a wrap
That’s it for today. Thanks for joining us.
We’ll be back early tomorrow morning to catch up on developments in global markets overnight.
Until then, take care of yourselves.
Loading
Wed 15 Jul 2026 at 4:59pm
Housing must not be collateral damage of data centres
The Housing Industry Australia (HIA) says it welcomes the prime minister’s acknowledgement today that housing must remain a central consideration as Australia expands its digital infrastructure and data centre capacity.
It says the rapid growth in data centres must not come at the expense of building homes for people.
“While data centres may play an important role in Australia’s economic future, governments must not lose sight of the country’s most urgent challenge — delivering enough homes for a growing population,” said HIA Chief Executive Industry and Policy, Simon Croft.
“Australia needs both homes and digital infrastructure but the rapid expansion of new data centres should not come at the expense of boosting supply of new housing.
“We are already seeing growing competition for land, electricity, water and infrastructure at a time when governments are struggling to deliver the housing supply needed to improve affordability.”
Mr Croft said examples were already emerging where housing projects were being displaced by data centre developments.
“There are examples in states such as Victoria and New South Wales, where land previously earmarked for housing is being fast-tracked for data centre development.
“The preferential planning treatment afforded to some data centre projects should also be called out. While we have no objection to this type of development, housing should be afforded the same urgency.
“Under fast-track planning mechanisms, it is entirely conceivable that a data centre spanning many hectares could be approved faster than a single home.
“Families looking for a home should not find themselves behind data centres in the queue for land, energy connections or essential infrastructure.”
Wed 15 Jul 2026 at 4:49pm
Sector summary
The ASX200 was lifted into positive territory today by aggregate gains in five sectors: industrials, basic materials, utilities, financials, and real estate.
Wed 15 Jul 2026 at 4:42pm
Best and worst performers
Among the top-performing stocks on the ASX200 today were Kingsgate Consolidated (up 58 cents, +15.89%, to $4.23), Mesoblast (up 21 cents, +8.82%, to $2.59), and Zip Co (up 25 cents, +8.47%, to $3.20).
The worst performing stocks were Regis Resources (down 34 cents, -5.16%, to $6.25), Evolution Mining (down 44 cents, -3.74%, to $11.34), and Xero (down $2.53, –3.57%, to $68.27).
Wed 15 Jul 2026 at 4:21pm
ASX closes 0.37pc higher
Trading has closed on Australia’s stock market, and the S&P/ASX200 index has gained 32.6 points for the day (+0.37%), to close on 8,841.1 points.
Wed 15 Jul 2026 at 3:47pm
Pumped hydro and solar project approved for Gloucester, NSW
NSW Planning Minister Paul Scully has approved a renewable energy project on the site of a former coal mine.
The $1.8 billion Stratford pumped hydro and solar project will occupy the site of a coal mining operation that ended in 2024 in the Gloucester Valley.
It has the potential to power 120,000 homes.
Mine site owner Yancoal is assessing the project’s commercial viability, ownership and funding models.
Wed 15 Jul 2026 at 3:21pm
ABC Business Daily podcast talks about the government’s new AI framework, and CEO pay
The latest ABC Business Daily podcast is live.
Prime Minister Anthony Albanese has told Australians that it is not a matter of if artificial intelligence will transform the economy. Rather, the question is how the change will happen.
Meanwhile, nearly 200 international economists and tech leaders have signed a statement urging policymakers to take AI’s impending economic impacts seriously.
So how might the federal government’s new AI framework allow Australia to be more than a “data warehouse”?
And, according to the Australian Council of Superannuation Investors’ annual study, the average ASX-100 CEO earned over 50 times more than the average full-time wage during the past financial year. But what does it mean for the Australian economy if half of the highest earners in ASX-listed companies are based overseas?
Daniel Ziffer and ABC News Business Editor Michael Janda break it all down on ABC Business Daily.
You can check out the articles from Alan Kohler and Nassim Khadem mentioned on today’s podcast.
Click on the link below to listen to the podcast:
Wed 15 Jul 2026 at 3:01pm
China’s economy will need some stimulus
Elliot Clarke, Westpac’s head of international economics, says China’s second quarter GDP data released today shows that the country will need some stimulus.
“Q2 GDP and the June activity data provided a mixed read on China’s economy,” he said.
“Q2 GDP met expectations in the quarter at 0.9%, but the annual rate disappointed, coming in at 4.3%yr.
“Year-to-date, growth is on track to meet our expectation of 4.7%ytd; however, that rate is towards the bottom of authorities’ 4.5%-5.0% full-year guidance.”
He says delving into the detail, it is evident China’s industrial sector continues to drive aggregate momentum.
“High-tech manufacturing categories such as integrated circuits (18.8%yr) and industrial robots (28.1%yr) are behind the recent gains, while motor vehicle production is unchanged over the year (-0.2%yr). Note though, within the vehicle category, production of new-energy vehicles is up 29.4%yr.”
He says the rotation towards high-tech manufacturing in China is likely a negative for employment given the level of automation used in new factories, so too the relocation of assembly work to neighbouring nations — mobile phone production was down 13.5%yr in June.
But for aggregate activity, he says, the integration of Asian production and trade combined with rapid technological development continues to produce significant net gains for China’s trade position, 27%yr growth in exports and a 36%yr gain for imports, leaving the monthly trade surplus at US$126bn in June — just inside January 2025’s record high and a multiple of the surplus prior to the pandemic.
However, he says, China’s domestic growth story remains downbeat overall, primarily due to declining investment.
“There remains a clear disconnect between the income generated by China’s major exporters and the financial prospects of the average Chinese household,” he said.
“Until the returns of trade are distributed more equitably to households, through wages, taxes and wealth gains, Chinese authorities need to fill the gap.
“Following such significant declines across essential local infrastructure, and with confidence impaired, today there is little risk of wide-spread capital misallocation or speculative excess.
“Pro-active support in scale via the local governments and state-owned entities is therefore the best course to speed aid.”
Wed 15 Jul 2026 at 2:38pm
Alcoa greenlights Australia gallium plant with US, Japan and domestic backing
Reuters is reporting that Alcoa says it has reached a final investment decision to set up a gallium plant at its Wagerup alumina refinery in Western Australia, with backing from the Australian, Japanese and US governments and industry partners.
From the report:
The US and Australian governments had said in October they would support Alcoa’s expansion plans in the region, a few months after the company signed a joint development agreement with a venture between the Japanese government and Sojitz Corp.
The US-based aluminium producer plans to construct and operate the plant, which could provide up to 10% of the global gallium supply.
“This final investment decision reflects a shared commitment by governments and industry to strengthen critical mineral supply chains among the partners,” said Alcoa President and CEO William F Oplinger.
Construction activities are expected to begin after final site preparations, the company added.
Gallium, a raw material used in the production of alumina, is a critical mineral for the technology sector, especially the semiconductor and defence industries.
Earlier this month, Alcoa agreed to buy the bulk of South32’s aluminium portfolio for an implied enterprise value of up to $5.6 billion to expand its access to upstream assets, including bauxite, alumina and aluminium assets across Brazil, South Africa and Western Australia.
Wed 15 Jul 2026 at 2:09pm
China’s June quarter GDP growth slows to 4.3pc y/y
China’s National Bureau of Statistics has released its second quarter GDP data today.
It shows China’s economy recorded a 4.3 per cent GDP growth (year-on-year) in the June quarter of 2026, down from 5 per cent in the March quarter. It was below estimates of 4.5 per cent y/y.
It was the slowest quarterly growth rate in 3.5 years (since the end of 2022).
Wed 15 Jul 2026 at 1:38pm
Stripe, Advent offer to buy PayPal for more than $US53 billion
Reuters is reporting an exclusive story that payments company Stripe and private equity firm Advent International have made a joint offer to acquire PayPal Holdings for $US60.50 a share, in a deal that would value PayPal at more than $US53 billion.
According to the report, the offer was made earlier this month, but Stripe and Advent have not received a response from PayPal and are seeking to reach an agreement by the end of the month.
Wed 15 Jul 2026 at 1:19pm
Long-running disputes at the Chatree Gold Mine
Further to the earlier post about Kingsgate Consolidated …
Its share price is up 17% (as of 1:15pm AEST) after it told the ASX this morning that its remediation works at its Chatree Gold Mine in Thailand were progressing well.
Here’s a bit of background about the Chatree Gold Mine, which is Thailand’s largest gold mine.
It has been subject to long-running disputes. In 2016, the Thai government ordered the mine to shut down for a while after villagers complained about elevated levels of arsenic and manganese in people and crops near the mine.
Fast forward to March this year, and the Bangkok Civil Court ordered Akara Resources, a subsidiary of Kingsgate Consolidated, to pay US$6,250 each to 382 villagers affected by land and water contamination from the mine.
Wed 15 Jul 2026 at 12:52pm
Coles gives real, small discount in return for data
The Flybuys loyalty program is one of Australia’s largest, linked to big retailers like Coles, Bunnings and Officeworks.
It’s a legacy of decades of marketing from way back in the Coles-Myer era, supercharged with the data power that comes from tracking millions of transactions.
(The program’s site says it has more than 9 million members; internet sources say it’s more like 10.5 million. Australia has a population of around 27.8 million people).
People accrue ‘points’, generally at a rate of $1 a point.
There are special offers, but in general this is the conversion rate of dollars to points.
For a while, Coles has been allowing people to convert points into discounts off their supermarket shop.
Flybuys chief executive officer Anna Lee says more than half of Flybuys members who shopped in-store at Coles in the past 12 months received more than $40 off at checkout through four lots of $10 discounts, where they’ve converted points to a “redemption” of $10 off.
“Millions of members who shop in store at Coles already have enough points to redeem. Pay with points gives members more choice in how they redeem their points across our great range of partners.”
The news today is that they’re now allowing up to $100 off.
But how much is that, really?
You need 20,000 points to get $100 off your shop, meaning, in general, you’ve had to spend $20,000 to get that discount.
$100 is 0.5% of $20,000, so you’ve spent a lot of cash with the conglomerate (you can buy a new Kia Picanto for $20,000) to get a tiny discount that you probably could have received by shopping around for better deals on individual products and services.
In fact, if you put $20,000 into the RBA’s inflation calculator and see what happens to that money between 2024 and 2025, at annual inflation of 2.8%, that $20,000 becomes $20,567 within a year, meaning that the purchasing power of your original $20,000 has decreased by $567 in 12 months. So your Flybuys “redemption” of $100 is far below the rate of inflation.
But the fair point is that if you’re already locked into certain providers, it is at least a benefit, even if it’s whisper thin.
Wed 15 Jul 2026 at 12:34pm
ASCI bans former MWL Financial Services adviser for five years
ASIC has banned former financial adviser Nicole Niu from providing financial services, controlling an entity that carries on a financial services business or performing any function involved in the carrying on of a financial services business for five years.
In a statement, ASIC says:
ASIC found that Ms Niu gave inappropriate advice to certain clients, which was not in their best interests, as she recommended that they invest most of their superannuation into the High Growth class and the Growth class of the Shield Master Fund (Shield) which was a high-risk investment, or the Balanced class, which was a medium risk investment. Shield also had a limited trading history.
ASIC also found that Ms Niu’s statements of advice to her clients contained false and misleading statements as they implied that they would enjoy better returns by investing their superannuation into Shield, and represented that Shield had generated returns and outperformed alternatives for a significant period, which was incorrect because Shield had only come into existence in May 2021.
At the time of providing this advice, Ms Niu was an authorised representative of MWL Financial Services Pty Ltd (MWL).
Read more of ASIC’s statement here for more details.
It says if you’re a client of MWL and have concerns about the conduct of your adviser or the advice you received, you should consider lodging a complaint with the Australian Financial Complaints Authority.
Wed 15 Jul 2026 at 11:55am
Kingsgate Consolidated shares up 15 per cent
Kingsgate Consolidated shares are up 15.2% today, making it the best performing stock on the ASX200 this morning.
It is an Australian gold and silver mining, development, and construction company.
It owns and operates the Chatree Gold Mine in Thailand and it is advancing the Nueva Esperanza Silver-Gold Project in Chile.
It gave an update to the ASX this morning about its remediation works at Plant 1 at the Chatree Gold Mine.
It said the remediation works are progressing well, and it has had a successful restart of Plant 1.
Wed 15 Jul 2026 at 11:39am
Fed chair Kevin Warsh vows to maintain the US central bank’s independence, in spite of pressure from Trump
The world’s most powerful central banker Kevin Warsh has strongly implied he’ll be making US monetary policy decisions independently and free from political influence.
That’s despite the fact Donald Trump appointed Mr Warsh to be the new Federal Reserve chairman with the expectation there’ll be interest rate cuts ahead.
The Fed chair appeared before the US House of Representatives Financial Services Committee on Tuesday (local time) and was grilled by politicians about the American economy and his relationship with Mr Trump.
He was asked what would happen if the US president were to target him personally about his interest rate decisions, or tried to sack him.
Mr Warsh replied: “I would continue to do my job”.
“Outside the four walls of the Federal Reserve there’s no doubt a lot of politics.
“My goal inside the central bank is for there to be no politics. To the extent there’s politics there, we’re going to get rid of it.”
‘Sacrosanct’ independence
One US lawmaker quizzed Mr Warsh about his determination to make policy decisions based on the economic data even if the president pressured him to lower rates.
“The independence of the Fed is sacrosanct,” Mr Warsh said in response
“Credibility is bolstered if we are and are perceived to be independent. … That is the way we can best do our job.”
He was walking a fine line between defending his professional integrity and not getting into Mr Trump’s “bad books”.
Before he was appointed to lead the Fed, Mr Warsh spoke publicly about wanting to cut interest rates — which probably helped him get the president’s personal endorsement, according to analysts.
But now that he’s secure in the position, he seems to have taken a different view.
The Fed chairman now says inflation in America is much too high and that the US central bank would, essentially, do whatever it takes to restore “price stability”.
Financial markets are now betting the Fed will almost certainly lift interest rates by December.
If so, it will be interesting to see how Mr Warsh’s cordial relationship with the president holds up.
His predecessor Jerome Powell also received a lot of effusive praise from Mr Trump when he began his term as the Fed chair in early 2018.
But soon after, it descended quickly into personal attacks, mean tweets and a criminal probe into Mr Powell for allegedly overspending on the Fed building’s renovation works.
The US Department of Justice ultimately dropped its criminal investigation into Mr Powell — which was widely seen as an attempt by the Trump administration to interfere with the Fed’s independence.
Wed 15 Jul 2026 at 11:19am
Rio Tinto’s Pilbara operations are pumping
It’s reporting season for the miners, and this morning Rio Tinto revealed its Pilbara iron ore mines delivered the strongest production in eight years.
“In the Pilbara we achieved our highest first half iron ore production since we set a record in 2018,” chief executive Simon Trott said.
Over the half year, the Platts 61% iron ore index price for fines was $91/ dry metric tonne (dmt), and Rio Tinto reported an average realised price of $92.6/dmt.
The so-called Pilbara Killer, Rio’s JV project, Simandou in Guinea, is up and running. Rio has a 45% stake in the project.
Over the quarter, 1.6Mt of ore was being put on a train and shipped to China for crushing, and 0.4Mt of 65.8% Fe sales were achieved.
For comparison, last year Platts and Fastmarkets re-jigged their price indices for Australian iron ore from 62 per cent Fe to 61 per cent Fe, to reflect the lower grade of ore coming from the Pilbara.
The report mentions the impact of the Middle East conflict on supply chains for the miner’s operations, while there’s been “no material disruption to production or outbound supply”, the price of diesel has increased from about $85/barrel to about $140 barrel in the six months to June 30:
“A US$10/barrel increase in diesel price is estimated to impact full year Pilbara unit costs by ~$0.15/t”.
Wed 15 Jul 2026 at 11:00am
Gold, software and healthcare stocks among the worst performers on ASX
One hour into the trading day and the Australian market has managed to hold onto most of its early gains.
The ASX 200 has risen 0.5% to 8,850 points.
About 80 out of 200 stocks are trading lower, with healthcare, furniture, gold, software and gambling stocks doing quite poorly this morning.
Among the worst performing stocks are Resmed, Nick Scali, Regis Resources, Evolution Mining, Xero, Tabcorp and PEXA.
Wed 15 Jul 2026 at 10:37am
Tech and mining companies among today’s best performing ASX stocks
Many of today’s best-performing stocks are mining companies, including BHP, Firefly Metals and Capstone Copper.
Also on the list are tech companies like the data centre operator NextDC and telco Aussie Broadband.
However, the standout performer is Kingsgate Consolidated, after its share price surged by around 13% in the first half-hour.
But that’s just investors “buying the dip”. Shares of the gold and silver miner have plummeted by around 25% over the past month, and have fallen almost every day in that short period.
A couple of days ago, Kingsgate published a trading update which investors did not take well.
The company said its Chatree gold mine in central Thailand experienced a “significant mechanical failure”, which resulted in a “controlled shutdown” and that the financial impact is currently being assessed.
