ASX Opens Lower Amid Global Tariff Developments
ASX 200 futures trade lower by 5 points or 0.05%. Markets, however, expect upward pressure as tariff developments over the weekend lift sentiment. The US and EU secure a broad tariff deal. US and China agree to extend their tariff truce. US Q2 earnings season, major corporate appointments and key production updates all shape the landscape.
ASX 200 Chart as of 11:08 AM AEST
Key Australian Corporate Moves
The Lottery Corp announces Wayne Pickup as its new CEO, pending regulatory approval. Pickup previously led Allwyn North America from 2018 to 2025, managed the Illinois Lottery, and oversaw expansion. He also worked at Camelot Global Services and Lotto New Zealand, holding senior leadership roles and developing international strategies.
Imdex acquires 80.5% of Norway-based Earth Science Analytics for $26 million. The remaining 19.5% will be acquired after four years. Imdex aims to integrate current capabilities into ESA’s EarthNET platform. The company expects the acquisition to add $4 million in revenue and reach breakeven EBITDA margins for FY26.
Wisetech appoints Zubin Appoo as CEO, replacing interim CEO Andrew Cartledge, who retires at year’s end. Appoo’s experience includes leading innovation and technology teams at Wisetech and serving as CTO at InLoop and other SaaS platforms.
Production Updates – Perseus, Stanmore, Bellevue Gold and Boss Energy
Perseus records June quarter gold production at 121,200 ounces, a 5.3% beat over estimates. Q4 AISC lands at US$1,417 per ounce, 7.3% below expectations. Gold sales jump 11.6% quarter-on-quarter to 131,200 ounces. Perseus guides FY26 gold production at 400,000-440,000 ounces and confirms a five-year outlook of 515,000-535,000 ounces per annum at an AISC of $1,400-$1,500 per ounce.
Stanmore posts 4.9 million tonnes of ROM coal production, topping estimates by 6.1%. South Walker Creek delivers a quarterly site record as productivity recovers from recent wet weather disruptions. Costs track toward the upper end of guidance. Operating cash flow remains positive. The quarter closes with US$181 million cash and net debt at US$99 million.
Bellevue Gold produces 38,900 ounces of gold for the June quarter, missing guidance. AISC drops to A$2,253 per ounce for the period, down from A$3,124 per ounce in the previous quarter. Bellevue generates a record free cash flow of $67 million, reversing a $30 million outflow from March. Cash and gold on hand total $152 million, and debt remains at $100 million.
Boss Energy highlights production challenges despite a strong June quarter. Honeymoon production reaches 349,200 pounds U308, up 18% versus the March quarter and meeting full-year guidance. Cash and liquid assets stand at $224 million with zero debt. FY26 guidance falls below consensus across production and cost metrics. Boss projects FY26 C1 cash costs of A$41-45 per pound, AISC of A$64-70 per pound, and Honeymoon production of 1.6 million pounds. These figures all trail market expectations. CEO Duncan Craib announces his departure, heightening market concerns. Boss shares plunge 38.2% to $2.10, their lowest level in nearly two years.
Vysarn Forecasts Growth for FY26
Vysarn forecasts FY26 net profit before tax of $19.6 million. This would represent 31% growth year on year. Vysarn shares have gained 24% in 2025 and 40% over the last twelve months.
US and China Extend Tariff Truce
The United States and China agree to extend their tariff truce by another 90 days. The South China Morning Post confirms the extension. The extension comes ahead of trade talks in Stockholm, involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng. The US-China Business Council, with executives from FedEx, Boeing and the USCBC, plans a high-level delegation visit to China soon.
Analysts Reassess Whitehaven Coal
Whitehaven Coal shares dip 1.1% despite strong Queensland production. Narrabri output and weaker metallurgical coal prices offset the good result. CLSA upgrades the rating to Hold, raising the target to $6.30, citing free cash flow in Queensland. JPMorgan downgrades to Neutral with a $6.10 target, referencing valuation concerns. Macquarie lifts its target to $7.00, while Goldman Sachs supports growth via Queensland productivity gains and lower costs.
Outlook
Australian and global equity markets observe tariff decisions and production results. Corporate appointments and M&A activity continue. Market participants track further developments throughout the week as economic and trade policies shift.
