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ASX closes flat, down just 0.04% to 9,022.30 points
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Tech stocks slump for second straight session
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BHP pushes through $55 for the first time
The ASX closed relatively flat, down 3.70 points or ~0.04% to 9,022.30 after Wall Street’s overnight wobble and a fresh bout of artificial and US tariff jitters set a cautious tone for investors.
Tech slumped for a second straight session and was the ASX’s biggest lagging sector, offsetting gains in energy and mining.
Gold jumped more than 2% and silver surged as President Donald Trump’s latest tariff theatrics drove a rush into precious metals.
BHP (ASX:BHP) pushed through $55, touching $55.33 for the first time. The ‘Big Australian’ finished the day up 1.35 at $54.75.
Oil and gas producer Woodside Energy Group (ASX:WDS) rose more than 2% today to $27.75 close at its highest level since September 2024, after reporting record annual production of 198.8 million barrels of oil equivalent for 2025.
WDS posted net profit of US$2.72 billion in 2025 – down 24% – with underlying earnings easing 8% and EBITDA flat at US$9.28bn, as weaker oil and gas prices weighed.
The company declared a fully franked dividend of US$1.12 per share, including a final US59 cents per share as it labelled 2026 a transition year ahead of key project milestones at Louisiana LNG, Scarborough and Trion.
WDS shares were further supported today by higher oil prices on the back of ongoing US and Iran tensions with Brent crude holding above US$70 per barrel.
Financials weigh on market as Bitcoin still down
Financials also weighed on the market with insurance stocks under pressure following the launch of an AI tool from Insurify triggering further fears about disruption in the industry. Steadfast (ASX:SDF) fell more than 5%, Insurance Australia (ASX:IAG) fell ~3.16% and QBE Insurance (ASX:QBE) was down 2.02%.
Bitcoin is about 2% lower at US$63,228 as renewed US tariff concerns, softer corporate earnings and a tech-led sell-off have dampened risk sentiment, prompting investors to trim exposure to volatile assets.
The Aussie dollar is trading firmer against the greenback, buying US70.59 cents.
Here’s how the sectors ended today’s session.
Monadelphous and Viva Energy surge as Adore Beauty falls
Earnings season continues for the ASX. Monadelphous Group (ASX:MND) closed 5.91% higher after reporting a record half-year revenue of $1.53bn, up 45.6% on the prior corresponding period (pcp). The engineering group also upgraded its guidance to 30%, above forecasts.
MND reported an EBITDA of $116.2m, up 45.6% on pcp, and a net profit after tax of $64.9m, rising 52.6%. Earnings per share came in at 65.2c, with an interim dividend of 49c per share. The company held a cash balance of $322m and has secured $1.4bn in new contracts and extensions since July 1, 2025.
Viva Energy (ASX:VEA) rose ~7%%, lifted by a full-year EBITDA of $700.9m. The results were supported by strong commercial and industrial sales, along with an improved second half in convenience and mobility.
Nine Entertainment Company (ASX:NEC) edged up 0.47%, buoyed by posting a 30% jump in underlying profit to $95m on pcp, with statutory earnings up 42% to $81m despite $14m in significant items.
Adore Beauty (ASX:ABY) plunged more than 27% after reporting a H1 FY26 gross margin of 35%, down 120 basis points on the pcp, as heavy Black Friday and Cyber promotional activity weighed on margins while the company continues to reset its discounting strategy to improve profitability. The company’s revenue was up 8.7% over pcp to $111.9m.
Southern Cross Media Group (ASX:SXL) fell ~9%% after posting a revenue dip and higher costs in its first half since merging with the Stokes family’s Seven West Media.
ARB Corporation (ASX:ARB) dropped more than 12%, with first-half profit down 17.2% to $42.2m as its core four-wheel-drive division remained under pressure.
ASX Leaders
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| ABE | Australian Bond Exchange | 0.035 | 75% | 370,366 | $2,594,952 |
| ERE | European Resources | 0.03 | 67% | 57,062,870 | $9,423,214 |
| HLX | Helix Resources | 0.0015 | 50% | 24,863,257 | $5,346,291 |
| GLL | Galilee Energy Ltd | 0.007 | 40% | 21,221,700 | $9,056,441 |
| ANX | Anax Metals Ltd | 0.036 | 38% | 13,510,178 | $28,655,427 |
| AUK | Aumake Limited | 0.0025 | 25% | 111,483 | $7,695,718 |
| ENT | Enterprise Metals | 0.005 | 25% | 50,000 | $5,976,602 |
| GES | Genesis Resources | 0.01 | 25% | 76,923 | $6,262,730 |
| ROG | Red Sky Energy. | 0.0025 | 25% | 325,993 | $10,844,454 |
| AU1 | The Agency Group Aus | 0.031 | 24% | 2,601,179 | $10,989,415 |
| P1E | Pure One Corporation | 0.075 | 21% | 1,187,765 | $24,086,720 |
| GGR | Goldengloberesources | 0.32 | 21% | 194,764 | $29,623,138 |
| HPC | The Hydration Co | 0.006 | 20% | 48,127 | $2,154,005 |
| SKN | Skin Elements Ltd | 0.006 | 20% | 2,187,200 | $15,126,071 |
| C1X | Cosmo Exploration | 0.1675 | 20% | 2,378,326 | $15,185,324 |
| BSA | BSA Limited | 0.28 | 19% | 550,848 | $17,695,561 |
| CVW | Clearview Wealth Ltd | 0.63 | 18% | 4,242,555 | $336,072,826 |
| LVE | Love Group Global | 0.105 | 17% | 49,975 | $3,648,075 |
| MGU | Magnum Mining & Exp | 0.007 | 17% | 2,823,724 | $19,278,223 |
| GT1 | Greentechnology | 0.029 | 16% | 2,424,173 | $16,269,608 |
| AIV | Activex Limited | 0.022 | 16% | 12,601 | $5,163,299 |
| VKA | Viking Mines Ltd | 0.015 | 15% | 35,991,454 | $30,340,611 |
| GEN | Genmin | 0.008 | 14% | 18,347,269 | $24,201,003 |
| LIB | Liberty Metals | 0.004 | 14% | 255,263 | $28,704,266 |
European Resources (ASX:ERE) was up 67% today after delivering its strongest drill hit to date at the Korsnäs rare earths project in Finland, with hole KR-316 intersecting thick, NdPr-rich mineralisation in the southern zone, including grades above 1% TREO. The result paves the way for further drilling and a potential resource upgrade.
Anax Metals (ASX:ANX) jumped 38% after releasing a positive update to the definitive feasibility study for its Whim Creek copper project in Western Australia’s Pilbara region. The update confirmed the project is technically and economically strong, with a pre-tax internal rate of return of 98% and projected free cash flow of $723m.
The Agency Group Australia (ASX:AU1) surged 24% after reporting H1 FY26 underlying EBITDA (pre-AASB16) up 199% to $2.06m. The group reached a record agent headcount of 474, cut its net loss after tax to $830,000 from $2.30m in H1 FY25, and delivered positive operating cash flow of $1.81m.
ASX Laggards
| Code | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| MMR | Mec Resources | 0.003 | -50% | 18,555,262 | $11,231,939 |
| ABY | Adore Beauty | 0.62 | -28% | 2,503,258 | $80,803,818 |
| CLG | Close Loop | 0.019 | -27% | 6,126,536 | $13,874,897 |
| SRL | Sunrise | 7.98 | -27% | 2,401,446 | $1,565,603,155 |
| CAN | Cann Group Ltd | 0.006 | -25% | 2,866,787 | $12,706,933 |
| ZNO | Zoono Group Ltd | 0.053 | -21% | 279,341 | $27,216,188 |
| BPH | BPH Energy Ltd | 0.008 | -20% | 18,061,240 | $13,538,489 |
| NAE | New Age Exploration | 0.004 | -20% | 34,668,022 | $21,029,557 |
| AGR | Aguia Res Ltd | 0.014 | -18% | 5,591,540 | $32,450,327 |
| IAM | Income Asset | 0.019 | -17% | 7,000 | $21,410,029 |
| XPN | Xpon Technologies | 0.019 | -17% | 2,345,907 | $11,278,196 |
| LSR | Lodestar Minerals | 0.011 | -15% | 32,012,626 | $14,949,381 |
| BIT | Biotron Limited | 0.003 | -14% | 18,333 | $9,456,531 |
| BLU | Blue Energy Limited | 0.006 | -14% | 2,040,816 | $21,083,815 |
| C7A | Clara Resources | 0.003 | -14% | 448,546 | $6,431,290 |
| EE1 | Earths Energy Ltd | 0.006 | -14% | 18,040 | $5,252,272 |
| EG1 | Evergoldminsltd | 0.031 | -14% | 433,887 | $11,832,022 |
| CC9 | Chariotresources Ltd | 0.125 | -14% | 139,294 | $29,839,815 |
| ARB | ARB Corporation. | 21.36 | -13% | 3,142,039 | $2,050,500,480 |
| AT4 | Americantungsten | 0.135 | -13% | 17,547,792 | $201,788,898 |
| DTZ | Dotz Nano Ltd | 0.034 | -13% | 804,673 | $27,030,865 |
| SHO | Sportshero Ltd | 0.096 | -13% | 5,264,007 | $97,569,204 |
| CMA | Carma Ltd | 1.14 | -13% | 7,771 | $178,632,687 |
| AVW | Avira Resources Ltd | 0.014 | -13% | 4,524,554 | $8,400,000 |
| EXT | Excite Technology | 0.007 | -13% | 3,909,327 | $16,656,963 |
In Case You Missed It
A gravity breakthrough has enabled Loyal Metals (ASX:LLM) to identify a large copper-gold system at its Highway Reward project in Queensland.
Red Mountain Mining (ASX:RMX) is aggressively advancing its critical minerals portfolio in the US with the intention of becoming a domestic antimony supplier.
Stockhead TV host Tylah Tully looks at Minerals Exploration’s (ASX:MEX) latest progress searching for gold in New Zealand.
The company is launching a follow-up field campaign at its recently granted Invincible gold project after surface dump sampling at the historical Invincible mine returned high gold grades.
Leading ASX mining contractor Perenti (ASX:PRN) has delivered a consistent first half that sets it up for even stronger full-year results, upping its interim dividend by 8.3% to 3.25c per share.
DigitalX (ASX:DCC)is positioningto capitalise on recent weakness across the digital asset sector, unveiling plans to deploy up to $30m into infrastructure and strategic opportunities
Trading Halts
The Calmer Co International (ASX:CCO)– cap raiseDalaroo Metals (ASX:DAL) – acquisition of gold projectEnegex (ASX:ENX) – cap raise
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Disclaimer: The author held shares in Woodside Energy Group and BHP at the time of writing this article.
Originally published as Closing Bell: ASX closes flat as tech stocks weigh on gains
