Stock Markets July 2, 2026 02:35 AM

ASX closes marginally higher as Gold, Financials and Healthcare lead gains

S&P/ASX 200 ticks up 0.02% as select large-cap winners offset weakness in several mid-cap names

By Sofia Navarro
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NWS

Australian equities finished the trading day marginally higher, with the S&P/ASX 200 rising 0.02% in Sydney. Strong moves in gold-related names and gains in Financials and Healthcare supported the index, while notable declines among several mid-cap stocks weighed on broader performance. Commodity prices and currency movements were mixed across the session.

ASX closes marginally higher as Gold, Financials and Healthcare lead gains
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Key Points

  • S&P/ASX 200 closed up 0.02% in Sydney, led by gains in Gold, Financials and Healthcare.
  • Top performers included Objective Corp Ltd (OCL +14.96%), Northern Star Resources Ltd (NST +5.21%) and News Corp B DRC (NWS +4.51%).
  • Largest decliners were Monadelphous Group Ltd (MND -8.24%), Temple & Webster Group Ltd (TPW -7.97%) and Nextdc Ltd (NXT -5.81%).

Shares in Australia ended Thursday's session slightly in the green as gains in Gold, Financials and Healthcare supported the benchmark. At the close in Sydney, the S&P/ASX 200 climbed 0.02%.

Top movers - On a stock-by-stock basis, Objective Corp Ltd (ASX:OCL) led the index's risers, jumping 14.96% or 1.01 points to finish at 7.76. Northern Star Resources Ltd (ASX:NST) added 5.21% or 0.98 points to close at 19.78, while News Corp B DRC (ASX:NWS) rose 4.51% or 1.83 points to end the day at 42.42.

Largest decliners - Offsetting some of those gains, Monadelphous Group Ltd (ASX:MND) fell 8.24% or 2.57 points to 28.61 at the close. Temple & Webster Group Ltd (ASX:TPW) declined 7.97% or 0.48 points to 5.54, and Nextdc Ltd (ASX:NXT) was down 5.81% or 0.85 points to 13.79.

By market breadth, advancing issues narrowly outnumbered losers on the Sydney Stock Exchange with 603 stocks higher versus 505 lower; 360 stocks finished unchanged.

The S&P/ASX 200 VIX - which measures the implied volatility of S&P/ASX 200 options - eased 1.51% to 11.64, indicating a modest drop in option-implied market volatility.


Commodities and FX - In commodities trading, Gold Futures for August delivery were up 0.15% or 6.07 to $4,088.47 a troy ounce. Crude oil for August delivery fell 1.21% or 0.83 to $67.75 a barrel, while the September Brent contract declined 1.10% or 0.79 to trade at $70.78 a barrel.

On the currency front, AUD/USD was effectively unchanged, moving 0.06% to 0.69, while AUD/JPY slipped 0.23% to 111.83. The US Dollar Index Futures moved down 0.09% to 101.07.


Investment tools mentioned - The session's coverage also referenced ProPicks AI, which evaluates MND alongside thousands of other companies using more than 100 financial metrics. The text notes the AI assesses fundamentals, momentum and valuation without bias and cites notable past winners including Super Micro Computer (+185%) and AppLovin (+157%). The item poses the question of whether to invest $2,000 in MND and invites readers to explore ProPicks AI strategies and comparable opportunities.

Overall, the market closed with only marginal net gains as pockets of strength in certain sectors were balanced by sharp declines in several individual stocks. Indicators including the VIX and movements in key commodities and currencies signaled restrained volatility during the session.

Risks

  • Rising or falling commodity prices - highlighted by mixed moves in Gold (up) and oil (down) - could influence sector performance, particularly resource and energy-linked stocks.
  • Changes in implied volatility as measured by the S&P/ASX 200 VIX may alter market sentiment and derivatives pricing across the exchange.
  • Currency fluctuations, including movements in AUD/USD and AUD/JPY, could impact exporters and companies with significant offshore earnings or cost bases.

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