Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
US stocks fell yesterday, with the S&P 500 down 0.78% and the NASDAQ losing 1.34% — Microsoft and Meta Platforms were the primary drag, with each falling around 3%. Oil futures surged nearly 4% on investor pessimism surrounding the U.S.–Iran conflict, following President Donald Trump’s comments that he is not interested in extending the expiring ceasefire agreement. This gave an overall boost to energy equities, and as such, we expect local energy stocks to trade well today. Elsewhere in commodities, precious metals were down slightly over 1%. On the earnings front, we saw results out from BHP and Absa Group this morning, while local market sentiment continues to ride the high from Thungela Resources’ strong numbers on Monday morning.
BHP
BHP announced earnings today and beat estimates across the board, declaring a final dividend of $0.99 per share. This marks its highest total share return in 4 years. Subsequently, the stock jumped 2.65% to close at A$63.85 on the ASX.
Local Stocks
Local Retail Sector
No particular company-specific news hit retail stocks, but we saw a sharp sell-off across the sector, with Mr Price Group Ltd (MRP), The Foschini Group Ltd (TFG), and Pepkor Holdings Ltd (PPH) dropping 4.52%, 4.61%, and 1.13% respectively.
From left to right: Mr Price Group Ltd (MRP), The Foschini Group Ltd (TFG) and Pepkor Holdings Ltd (PPH).
Thungela Resources Ltd (TGA)
Thungela Resources Ltd (TGA) continues its upward rally as investors react to its strong earnings update. As of this morning, the stock has surged over 5.5%, breaking past its previous high of R109.74. If it manages to close above this resistance, it could maintain its upward momentum, with the next target level to watch at R117.28.
Absa Group (ABG)
Absa Group announced its H1 2026 earnings today. While results were essentially in line with consensus and delivered high profitability, the market was unimpressed. The stock opened slightly higher this morning before slipping roughly 1.5%.
Earnings and Economic Data
Pre-Market Earnings
The Home Depot (HD)
The Home Depot operates as the world’s largest home improvement specialty retailer, providing building materials, tools, lawn and garden products, and installation services.
Baidu Inc (BIDU)
Baidu Inc operates as a major Chinese technology company specializing in internet search, artificial intelligence solutions, cloud computing, and autonomous driving technology.
After-Market Earnings
Auna (AUNA)
Auna operates an integrated healthcare network across Latin America, providing hospital care, specialized oncology services, and prepaid healthcare plans.
Keysight Technologies (KEYS)
Keysight Technologies manufactures electronic design, measurement, and testing solutions used to optimize electronic systems across telecommunications, aerospace, defense, and semiconductor industries.
Economic Data
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