ASX 200 Recovers on Mining Gains Despite Weekly Decline

2026-07-10 06:37 By Farida Husna 1 min. read

The ASX 200 rose 44 points, or 0.5%, to close at 8,806 on Friday, snapping a four-session losing streak after a subdued start amid gains in miners, financials, and industrial stocks.

Mining shares rallied as iron ore and copper prices strengthened, with heavyweight BHP Group, Rio Tinto, and Fortescue advancing between 2.0% and 3.8%.

The big four banks added between 0.3% and 0.7%.

However, the benchmark index lost 0.4% for the week, reversing the prior week's gains as investors turned cautious after the IMF cut its 2026 growth forecast for Australia to 1.9% from 2.0%, and warned that inflation is likely to remain elevated at around 4% this year.

Looking ahead, investors will monitor key economic releases from China next week, including June trade figures, activity data, and second-quarter GDP, for clues on demand in Australia's largest export market.

Locally, attention will also turn to July business and consumer confidence surveys, as well as consumer inflation expectations.



News Stream
ASX 200 Recovers on Mining Gains Despite Weekly Decline
The ASX 200 rose 44 points, or 0.5%, to close at 8,806 on Friday, snapping a four-session losing streak after a subdued start amid gains in miners, financials, and industrial stocks. Mining shares rallied as iron ore and copper prices strengthened, with heavyweight BHP Group, Rio Tinto, and Fortescue advancing between 2.0% and 3.8%. The big four banks added between 0.3% and 0.7%. However, the benchmark index lost 0.4% for the week, reversing the prior week's gains as investors turned cautious after the IMF cut its 2026 growth forecast for Australia to 1.9% from 2.0%, and warned that inflation is likely to remain elevated at around 4% this year. Looking ahead, investors will monitor key economic releases from China next week, including June trade figures, activity data, and second-quarter GDP, for clues on demand in Australia's largest export market. Locally, attention will also turn to July business and consumer confidence surveys, as well as consumer inflation expectations.
2026-07-10
Australian Shares Poised for Weekly Losses
Australian equities edged down 0.1% to 8,751 on Friday morning, retreating for the fifth straight session as U.S. stock futures were slightly lower following gains on Wall Street overnight after President Trump said Iran wanted to make a deal after the U.S. launched fresh strikes against the country. Meanwhile, caution lingered after the International Monetary Fund cut its 2026 growth forecast for Australia to 1.9% from the previous projection of 2%, warning that annual inflation will remain stubbornly high this year at around 4%. Healthcare, retail trade, and transport dragged the ASX 200, though strength in non-energy minerals, communications, and industrial services capped declines. For the week, markets are on track to post a weekly decline, down around 1.0% so far after gaining in the prior period. Among notable laggards were Pro Medicus (-4.4%), Reece Ltd. (-2.1%), Lynas Rare Earths (-1.9%), and Ramsay Health Care (-1.4%).
2026-07-10
ASX 200 Extends Losing Streak to Four
The ASX 200 fell 23 points or 0.3% to end at 8,762 on Thursday, down for the fourth session after U.S. President Trump dismissed further talks with Iran and warned of additional strikes, eroding hopes for Middle East stability. Meanwhile, the International Monetary Fund trimmed its 2026 growth forecast for Australia to 1.9% from the previous projection of 2%, adding that consumer price inflation will remain stubbornly high, likely around 4% for 2026. Process industries, non-energy minerals, healthcare, and consumer non-durables weighed, partly offset by strength in consumer durables, energy minerals, retail trade, and industrial services. Heavyweight BHP Group slipped 1.1% while Rio Tinto tumbled 3.3%, weighed by lower copper prices. Gold stocks also fell, with Evolution Mining and Northern Star Resources slipping 1.7% and 0.9%, respectively. Three of four big banks lost between 0.1% and 0.8%.
2026-07-09