ASX Futures Edge Lower After Wall Street Weakness
S&P/ASX 200 futures decreased 13 points or 0.15 per cent on Monday after the slack finish on Wall Street. The S&P 500 fell 0.33 per cent and the Nasdaq lost 0.22 per cent, both in breaking a multi-week rally. Despite earlier aggressive tariff threats by the former U.S President Donald Trump, investors also seemed strong and moved towards upcoming U.S inflation data. The core inflation is expected to rise to 2.9 per cent in June, which will be its first 12 month increase since January.
ASX 200 Chart as of 12:10 PM AEST
Trump Escalates Global Tariff Battle
Trump announced 30% tariffs on goods from the European Union and Mexico, effective 1 August. He also threatened a 35% tariff on Canadian imports. The former president suggested lifting the global tariff baseline to 20%. Markets appear to interpret the announcements as part of a trade negotiation strategy. Analysts await inflation data to assess the full market impact.
Silver Prices Hit 13-Year High
Silver surged 3.79% overnight to trade above US$38 per ounce, its highest level since October 2011. The NYSE-listed Global X Silver Miners ETF rose 3.5%, marking its strongest session since January 2021. Australian silver stocks are expected to benefit from the rally.
Silver Stocks to Watch on ASX
Investors are monitoring several ASX-listed silver miners amid strong global price momentum. Key names include Adriatic Metals, Andean Silver, Boab Metals, Manuka Resources, Maronan Metals, Polymetals Resources, Silver Mines, Sun Silver, and Unico Silver. These companies are likely to see increased interest as silver demand grows.
Block Shares Drop After JPMorgan Fee Move
NYSE-listed Block fell 5.2% after JPMorgan revealed new fees for fintechs accessing customer bank data. The new charges depend on usage and target payment-focused platforms. Peers Affirm and Sezzle also declined 5.5% and 9.3% respectively. The change could challenge the business models of companies reliant on open banking data.
Imugene Prepares $35 Million Capital Raise
Imugene will raise around $35 million via a placement led by Bell Potter and E&P Financial. The raise follows new data from Imugene’s azer-cel CAR T cell therapy, showing tumour responses. The company last raised $60 million in 2022 when acquiring the azer-cel licence.
Abacus Storage Receives Improved Offer
Ki Group and US-based Public Storage increased their takeover offer for Abacus Storage to $1.65 per share. The new bid marks a 14.7% increase from the earlier $1.47 proposal. It also represents a 42.2% premium to pre-offer share prices. Abacus Storage King’s board has now granted due diligence access.
AFG Reports Record Loan Volumes
Australian Finance Group reported record Q4 FY25 loan lodgements totalling $27 billion, a 19% year-on-year rise. Annual lodgements exceeded $100 billion for the first time. Loan volumes rose across all states, with WA leading at 25%. Loan count reached a record 40,810, with investor lending climbing to 34%.
Mortgage Trends and Market Share Gains
Refinancing dropped to 19%, a record low, as borrowers await potential RBA cuts. Fixed-rate uptake stood at just 2.3%. Non-major lenders expanded their market share to 40.3%, while AFG Home Loans grew to 6.55%. National loan-to-value ratio fell to 63.1%, suggesting increased borrower equity. Average mortgage size rose to $678,333.
Macquarie Technology Plans New Campus
Macquarie Data Centres entered an option agreement to purchase Sydney land for $240 million. The campus will deliver 150 MW of IT load for hyperscale and AI clients. The acquisition depends on planning approvals and will be funded using cash and debt. The IC3 SuperWest facility remains on track for September 2026.
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DroneShield Expands R&D and Production Capacity
DroneShield will invest over $13 million in a 3,000sqm Sydney facility, boosting production to $900 million by mid-2026. Combined global capacity will reach $2.4 billion by end-2026. The site opens by December 2025 and includes testing and warehousing. The current facility will become a 5,530sqm R&D hub. The company’s sales pipeline stands at $2.34 billion.
South32 Flags Mozal Aluminium Impairment
South32 expects to impair its Mozal Aluminium asset due to electricity supply uncertainty. Its long-term power deal ends in March 2026. Drought has reduced HCB’s hydro-electric capacity, jeopardising operations. South32 owns 63.7% of Mozal, which contributes around 3% to Mozambique’s GDP. The impairment amount remains under review.
Hansen Technologies Upgrades EBITDA Guidance
Hansen Technologies raised its FY25 EBITDA guidance, citing efficiency gains and a strong contribution from powercloud. Underlying EBITDA now sits at $110-112 million, up from $92-101 million. Revenue is forecast at $391-393 million. EBITDA margin is projected at 28%, while cash EBITDA margin sits at 24%.
Turaco Gold Share Plan Oversubscribed
Turaco Gold’s $4 million share purchase plan closed early after receiving $10 million in applications. Shares were offered at 44 cents. Strong investor interest suggests confidence in Turaco’s gold exploration potential.
ASX Movers: Hansen, Droneshield and Zip
Hansen shares rose 10.25% following its earnings upgrade. DroneShield gained 10.8% after revealing its expansion plan. Zip fell 4.5% after JPMorgan’s fee announcement raised concerns about US operations.
Chinese Lithium Futures Rebound
Chinese lithium futures jumped 5.0% to 67,300 yuan per tonne, the highest since April 2024. Pilbara Minerals and Liontown Resources rose 3–4% in response, reversing early losses.
Ballard Mining Makes Strong ASX Debut
Ballard Mining listed at 25 cents and opened at 36 cents, up 44%. It peaked at 37.5 cents, a 50% gain. The company holds the Mt Ida gold project with 1.1 million ounces at 3.33g/t Au. Delta Lithium retains a 49% post-IPO stake.
