ASX recovers from weak opening, technology, banks rally beyond Comm Bank (ASX:CBA), Newmont (ASX:NEM), gold miners sink
The local sharemarket managed to turn a weak start into a positive day, finishing 0.4 per cent higher on Monday, after posting a record high the week prior. Nine of the 11 sectors managed a gain, led by the Big Four Banks and real estate, which added more than 1 per cent each. Commonwealth Bank (ASX:CBA) has found support after a weak period of trading, posting a 2.6 per cent gain. It was good news on the economic front in China, with the economy having grown by 4.8 per cent in the last 12 months, around the 5 per cent growth target, and amidst an increase in tariff rhetoric from President Trump. PM Albanese is set to meet Trump this week to discuss policy changes that would support Australia’s rare earth mining expansion plans. Gold miner reversed the best week in five years, as the price of bullion retreated, pushing Newmont (ASX:NEM) down close to 6 per cent for the session.
Bapcorp (ASX:BAP) drops sharply on operational issues, Zip (ASX:ZIP) surges on US sales growth
Auto parts group Bapcorp (ASX:BAP) has seen its woes continue with shares tanking by more than 17 per cent after the company delivered a sharp downgrade to earnings expectations. The group flagged a $12 million hit due to “unsatisfactory operational practices” in its tools and equipment focused Trade division. Full year net profit is now expected to be just $3 to $7 million, with a review of the business model flagging the need for immediate management changes in an effort to recover flagging margins, as the challenge of integrating acquired businesses comes to the fore. BNPL group Zip Co (ASX:ZIP) have rallied by more than 4 per cent after the company confirmed strength in US sales, as transactions increased by 51 [er cent to $3 billion in the first quarter. The company is now pursuing a Nasdaq listing, on the back of a cash earnings hitting $63 million for the quarter and continues to keep bad debts under control. Uranium miner Deep Yellow (ASX:DYL) has fallen by close to 19 per cent following the shock resignation of CEO John Borshoff.
US indices rally, Apple hits record, Amazon weathers outage, rare earths deal signed
Shares in Apple (NYSE:AAPL) joined the record high party, hitting their first record of 2025, well behind competitors like NVIDIA (NYSE:NVDA) as demand for the new series of iPhones looks to be 14 per cent better than the prior release; shares rallied 4 per cent on the update. All eyes are on earnings season with Tesla (NYSE:TSLA) among the companies set to report this week, as 85 per cent of companies already reporting have beaten expectations. It was good news for markets as US-China trade talks are expected to include conversations about Taiwan, with the result being a 1.1 per cent gain in the Dow Jones and S&P500, buoyed by smaller companies, with the Nasdaq adding 1.4 per cent. Amazon (NYSE:AMZN) shares gained 1 per cent despite a global outage that sent everything from Zoom to Xero down briefly around the world. Kering SA announced plans to sell its beauty division to L’Oreal in a US$4.7 billion deal, while Worldpay and Global Payments Inc are set to create a payment processing giant after passing competition regulator in the UK. Finally, the US-Australia signed a basic agreement that will see more support for Australian rare earth exports to the US, as they seek to reduce reliance on China.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.4 | 1.7 | 3.0 | 4.2 | 11.8 |
| Financials | 1.5 | 0.7 | 1.0 | 1.6 | 15.9 |
| Resources | -1.0 | 3.5 | 11.4 | 18.9 | 16.7 |
| Information Technology | 1.3 | -1.9 | -4.3 | -2.6 | 17.2 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 1.1 | 0.6 | 1.9 | 6.8 | 18.4 |
| Europe | -0.1 | 1.4 | 3.3 | 5.3 | 22.7 |
| Japan | 1.8 | 0.7 | 2.0 | 13.5 | 23.3 |
| China top 50 | 1.2 | -1.5 | -3.3 | 4.0 | 30.2 |
| India top 50 | 0.4 | 2.5 | 2.7 | 0.2 | 0.9 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.3 | 0.7 | 0.8 | 1.7 | 5.4 |
| Australian Corporate Bond | -0.2 | 0.7 | 0.8 | 1.8 | 6.2 |
| US Treasury | -0.4 | 0.4 | 0.9 | 3.2 | 4.0 |
| Cash | 0.0 | 0.1 | 0.3 | 1.0 | 4.2 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | -2.9 | 3.6 | 17.3 | 26.6 | 58.2 |
| Silver | -4.6 | 6.0 | 30.3 | 42.0 | 62.9 |
| Crude Oil | 0.4 | -3.2 | -7.6 | -10.7 | -7.1 |
| Bitcoin | 1.1 | -2.5 | -2.8 | -5.8 | 68.7 |