Index Update: The S&P/ASX 200 ended Wednesday’s session 82.00 points, or 0.90%, higher at 9,227.80, marking a fresh 100-day high and leaving the benchmark just 0.02% below its 52-week peak. The index has gained 2.09% over the past five sessions. Six of the 11 sectors closed higher as optimism around a possible reopening of the Strait of Hormuz outweighed weakness across banking and energy shares. Materials led the advance, climbing 3.56% for the day and 4.79% over five sessions, while Information Technology rose 2.51% and Health Care gained 1.70%. Energy and Utilities declined 2.22% and 1.62%, respectively.

Macro Update: Australian living costs rose between 0.5% and 1.5% in the June 2026 quarter, according to the Australian Bureau of Statistics, with employee households recording the largest increase. Insurance and financial services, food and housing drove the rise, while mortgage interest charges climbed 8.2% after banks passed on recent RBA rate increases. Annual living-cost growth ranged from 3.7% to 4.7%.

Internationally, Qatar stated that efforts to resolve the US-Iran conflict were progressing, although no direct talks were underway. US officials also signalled movement on the Strait of Hormuz, while Iran reportedly sought temporary arrangements allowing it to control a route through the waterway.

Top Market Movers: Neuren Pharmaceuticals Limited (ASX:NEU) led the gainers today, rising 16.28% or AUD 3.030 to AUD 21.640. 4DMedical Limited (ASX:4DX) advanced 9.77% or AUD 0.420 to AUD 4.720, while IperionX Limited (ASX:IPX) gained 8.95% or AUD 0.280 to AUD 3.410. Among the decliners, Woodside Energy Group Ltd (ASX:WDS) fell 3.55% to AUD 31.780, Domino’s Pizza Enterprises Limited (ASX:DMP) declined 3.16% to AUD 19.290, and Karoon Energy Ltd (ASX:KAR) slipped 2.87% to AUD 1.695.

Commodity Update: The U.S. dollar remained near a six-week low as improving optimism over potential progress in U.S.-Iran discussions supported overall market sentiment, while the Japanese yen stabilized following recent intervention measures and renewed U.S. backing. Gold advanced 0.97% to USD 4,192.72, silver gained 1.43% to USD 61.10, and copper rose 0.13% to USD 14,039.00. Brent crude oil declined 0.30% to USD 79.12 as expectations of an interim U.S.-Iran agreement to restore shipping through the Strait of Hormuz continued to weigh on crude prices.

Our Stance: Australian equities maintained a positive tone, with the S&P/ASX 200 reaching a fresh 100-day high and approaching its 52-week peak as gains in materials, technology, and healthcare outweighed weakness in energy and banking. Improved sentiment surrounding potential progress on the Strait of Hormuz supported risk appetite, while lower crude oil prices eased inflation concerns. However, rising domestic living costs and higher mortgage interest charges continue to highlight underlying cost pressures for households. Commodity markets remained mixed, with gold and silver advancing alongside modest gains in copper. Near-term market direction is likely to remain influenced by geopolitical developments, commodity prices, and macroeconomic da

The S&P/ASX 200 Index advanced 82.00 points in the latest trading session, forming a strong bullish candlestick pattern that highlights renewed buying interest and improving investor sentiment. The index continues to maintain a constructive technical structure, with momentum indicators remaining supportive and indicating that buyers are actively stepping in during market pullbacks, reinforcing the prevailing uptrend. From a technical perspective, immediate support is placed near 9,140.50. As long as the index sustains above this key level, the broader bullish outlook is expected to remain intact, supporting the potential for further upside and a retest of recent highs. On the upside, a decisive breakout above the recent swing high of 9,140.50 would strengthen the bullish setup and could open the path towards the next resistance level near 9,300.00 in the upcoming sessions.