ASX 200 Live: A Day of Mixed News and Market Moves
The ASX 200 opened with a positive outlook, up 43 points or 0.49%. However, the day's events have been a rollercoaster, with a mix of positive and negative news affecting various sectors.
FleetPartners: A Positive Outlook
FleetPartners has upgraded its FY26 new business guidance to high-single-digit growth, citing an 8% year-to-date rise in new business writings. This is despite a softer used vehicle market impacting end-of-lease income. The company's Assets Under Management (AUM) rose 6% year-on-year, and Core income grew 7% YTD. The company's operating expenses are guided to $98.5-$99.5m, with a 60% to 70% payout ratio expected to be fully franked.
Clinuvel: A Major Market Win
Clinuvel has secured a Notice of Compliance from Health Canada for SCENESSE, a drug to prevent phototoxicity in adults with erythropoietic protoporphyria. This approval opens a fourth major market for the drug, following approvals in Europe, the US, and Australia. SCENESSE remains the only EPP treatment to hold marketing authorization from any regulator worldwide.
GQG Partners: Net Outflows and Fund Slips
GQG Partners recorded net outflows of US$3.2 billion in June and US$15.1 billion for the first half, dragging total funds under management down to US$156.0 billion. The company's strategies underperformed benchmarks in the first half but delivered positive absolute returns.
Rox Resources: Fully Permitted and Construction Begins
Rox Resources has secured its final major environmental approval for the Youanmi gold mine, clearing the way for processing plant construction. The company's cash stood at $152.7 million at 30 June, down $47.7 million over the quarter.
Terra Metals: Southwest Discovery Extended
Terra Metals has extended its Southwest PGM-copper-nickel discovery to more than 950m of strike, with a near-surface 157m intercept lifting confidence in a potential low-strip starter pit.
Vault Minerals: Deal Termination and Genesis Agreement
Vault Minerals will terminate its scheme with Regis Resources and enter a definitive agreement with Genesis Minerals after Regis declined to match Genesis' superior proposal. A break fee of about $50.7 million becomes payable to Regis on termination.
Global EV Demand: Rising for Fourth Month
Global electric vehicle sales rose again in June, with record European growth more than compensating for declines in China and North America. Battery-electric and plug-in hybrid registrations rose 7% year-on-year to 2 million in June.
Fuel Prices: Climbing Despite Crude Retreat
Gasoline, diesel, and jet fuel prices are climbing even as crude oil eases, driven by refinery bottlenecks and supply shocks. Russia's ban on diesel exports has sent Brazil and Turkey into a bidding war for non-Russian supply.
China: Dropping Urban Jobs Target
China omitted a numerical urban job creation target from its 2026-2030 plan, signaling rising uncertainty over AI-driven displacement. The country will address the employment impact of AI and other new technologies alongside a shifting external environment.
Delta: Profit Beat and Share Decline
Delta topped earnings estimates and revived its full-year profit forecast, but shares fell on fuel cost pressure and fare structure concerns. The company's adjusted EPS of $1.56 beat estimates by 3%.
US-Iran Strikes: Escalation and Hormuz Status
The US has hit Iran four times in a week, with both sides issuing contradictory claims over the Strait of Hormuz's status. The escalation casts doubt over the June US-Iran memorandum of understanding.
SK Hynix: Record Nasdaq Debut
SK Hynix's American depositary receipts closed 13% above their offering price on their first US session, capping the largest ever first-time share sale by a foreign company. The proceeds will fund additional capacity and EUV lithography machines.
Wall Street Dealers: Net Short on Corporate Bonds
Primary dealers are running an aggregate net-short position in corporate bonds for the first time on record, prompting debate over whether it signals caution or a structurally changed market.
SK Hynix Leveraged ETFs: A Rush of Launches
SK Hynix's record US debut is triggering a rush of leveraged ETF launches, importing the volatility-amplifying bets that already dominate its Seoul trading.
