Financial

Australian shares edged higher on Friday, bringing the benchmark index within striking distance of a record high as rate-sensitive sectors rallied on expectations that the Reserve Bank of Australia (RBA) will cut interest rates at its upcoming meeting.

Shares of Civmec Ltd, Dexus,and James Hardie Industries plc gained in today’s trading session following announcements related to acquisitions and an analyst upgrade. The market reacted positively to each development, reflecting investor attention to strategic transactions and outlook revisions.

Shares of three major ASX-listed companies Domino’s Pizza Enterprises Ltd, Helia Group Ltd,and Qantas Airways Ltd saw significant declines in trading today (2 July 2025), as each faced company-specific setbacks ranging from leadership instability to contract loss and cybersecurity breaches.

Highlights

Shares of Medibank Private Ltd (ASX: MPL) surged as much as 5.2% to a record AUD 5.31 on Monday, after Morgan Stanley upgraded the Australian health insurer to “overweight” from “equal-weight” and raised its price target to AUD 5.57, the highest among analysts tracked.

Shares of Suncorp Group Ltd (ASX: SUN) climbed 2% to close at a record high of AUD 22.04 on Tuesday, following an update on its FY26 catastrophe reinsurance program that suggests reduced coverage costs year over year. The stock rose as much as 2.5% …