Market News
Australian share market struggles as investors fear higher local and US interest rates. The decline was driven primarily by more hawkish comments from the US Federal Reserve which hinted that interest rates could be raised later this year.
Mining and technology stocks led the losses, especially gold miners as the price of gold bullion slides around 1.7%. Major miners such as Rio Tinto (RIO), BHP Group (BHP) and Mineral Resources (MIN) all traded lower amid weaker Chinese economic data and softer commodity prices.
ABS figures show Australia's population increased by 1.5% in the year to December 2025 to 27.8 million.
Lifestyle Communities (LIC) soars 9.8% after confirming an acceleration in sales momentum in the June quarter 2026, with new home sales rising from 43 to 56 in the quarter. Home sales in the full-year were 209 versus 139 for FY25.
WH Soul Pattinson (SOL) adds 0.8% after agreeing to sell its stake in Brickworks’ industrial joint venture property trusts to Goodman Group (GMG) for $1.89 billion. GMG shares were down 1.2%.
Challenger (CGF) gains 0.6% as its funds management unit Fidante agrees to a merger with Channel Capital to create Channel Group with $150 billion of assets under management.
Emeco Holdings (EHL) sinks 4.5% after flagging ‘a moderately softer close to FY26 with customers’ operations impacted by wet weather, supply chain challenges and fuel price uncertainty.’
Infrastructure investor Infratil gains 0.6% after appointing former Woolworths Group (WOW) CEO Brad Banducci to its board from 1 July 2026.