ASX 200 fades 0.11% as XRO rebounds 8% while miners slip on gold and copper
ASX 200 close: 8,630.8 (-9.9 / -0.11%) Sentiment: mixed
Session highlights
The S&P/ASX 200 closed at 8,630.8 on Friday 15 May 2026, down 9.9 points or 0.11%, after an 81-point intraday range (8,610.3 to 8,691.9). XRO.AU rebounded +8.13% to $79.67, reversing Thursday's 11.6% post-FY26-result slide. Gold -2.31% to US$4,577/oz and copper -3.78% to US$6.36/lb dragged BHP.AU -2.58%, RIO.AU -3.24% and lithium peer PLS.AU -5.80% lower.
- XRO.AU +8.13% to $79.67 — reverses Thursday's 11.6% slide after FY26 revenue NZ$2.75b (+31%); share buyback flagged for FY28 capital management.
- CBA.AU +1.91% to $159.40 — banks bid into the close; ANZ.AU +1.06%, WBC.AU +0.34%, NAB.AU +0.27% all closed green.
- STO.AU +2.74%, WDS.AU +2.06% — energy followed Brent +1.52% to US$107.33 and WTI +1.91% to US$98.77.
- BHP.AU -2.58%, RIO.AU -3.24%, FMG.AU -1.70% — iron-ore majors faded as gold -2.31% to US$4,577/oz and copper -3.78% to US$6.36/lb both fell.
- PLS.AU -5.80%, IGO.AU -2.85% — lithium and critical-minerals weighed; AUD/USD -0.75% to 0.7169 added a translation drag for AUD-reporting resource names.
Sector scorecard
- Best: Information Technology — XRO.AU +8.13% led; WBT.AU +11.84% and 4DX.AU +8.88% reinforced the tech bid.
- Worst: Materials — BHP.AU -2.58%, RIO.AU -3.24%, with lithium peers PLS.AU -5.80% and ELV.AU -8.78% setting the floor.
- Dispersion: XRO.AU +8.13% to RIO.AU -3.24% = 11.4-point spread across heavyweight names in a single session.
- Energy and Financials closed green; Materials closed red; Healthcare flat with CSL.AU +0.72%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| FRS.AU | +14.15% | Unannounced — likely flow-driven. |
| WBT.AU | +11.84% | Follow-through post 8-May Share Purchase Plan completion ($15m at 14.2% scale-back; $102m total raise) and recent ReRAM customer tape-outs. |
| 4DX.AU | +8.88% | Unannounced — likely flow-driven. |
| XRO.AU | +8.13% | FY26 revenue NZ$2.75b (+31%); share buyback flagged for FY28 reverses Thursday's post-result slide. |
| EOS.AU | +4.13% | Unannounced — likely flow-driven. |
| EQR.AU | -10.91% | Unannounced — likely flow-driven. |
| ELV.AU | -8.78% | Dilution overhang from 12-May A$275m institutional placement and Ewoyaa Ghana stake sale to Huayou for US$71m. |
| MI6.AU | -8.24% | Unannounced — likely flow-driven. |
| MLX.AU | -7.23% | Unannounced — likely flow-driven. |
| TVN.AU | -6.56% | Unannounced — likely flow-driven. |
Notable announcements
- XRO.AU reported FY26 revenue NZ$2.75b (+31%); NPAT -27% reflecting Melio acquisition costs. Share buyback flagged for FY28 capital management. Friday rebound followed Thursday's 11.6% post-result selloff.
- ELV.AU completed A$275m institutional placement 12 May to fund North American Lithium expansion; agreed to sell Ewoyaa Ghana interest to Huayou Cobalt for ~US$71m. Dilution overhang carried into Friday's session.
- WBT.AU closed Share Purchase Plan 8 May ($15m at 14.2% scale-back; total raise A$102m); two customer ReRAM tape-outs reported (Overlord Labs at DB HiTek plus a second prototype).
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 (US PRE) | 7,501.2 | +0.77% | Pre-bell firm into Friday US session. |
| NASDAQ (US PRE) | 26,635.2 | +0.88% | Tech leading the US pre-bell. |
| Brent crude (Jun) | US$107.33 | +1.52% | Lifted STO.AU and WDS.AU. |
| WTI crude (Jun) | US$98.77 | +1.91% | Followed Brent higher. |
| Gold (Jun) | US$4,577/oz | -2.31% | Pressured AU gold-exposed names. |
| Copper (Jul) | US$6.36/lb | -3.78% | Drag on BHP.AU, RIO.AU, FMG.AU. |
| AUD/USD | 0.7169 | -0.75% | USD firmness translated against resource AUD revenues. |
Next 24h catalysts (AEST)
- Mon 18 May 09:00 — SPI open carries Friday US session (S&P 500 +0.77% / NASDAQ +0.88% pre-bell at the AU close).
- Mon 18 May, intraday — ASX 200 software peers (PME.AU, TNE.AU, WTC.AU) will react to Friday's XRO.AU FY26 print.
- Tue 19 May 11:30 — RBA May meeting minutes window (fortnight after the 6 May meeting).
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