ASX 200 +0.4% to 8,692 as gold miners surge and a crude plunge sinks energy — 25 May 2026
ASX 200 close: 8,692.0 (+0.40%) Sentiment: mixed
The S&P/ASX 200 closed at 8,692.0 on Monday 25 May 2026, up 35 points or 0.40%, with the All Ordinaries up 0.43% at 8,915.4 and the AU VIX little changed at 12.62. A 4.93% jump in the All Ordinaries Gold index outweighed a 2.41% slide in the S&P/ASX 200 Energy index. Wall Street was shut for US Memorial Day, so the local session traded without an overnight US cash lead.
Session highlights
Gold and coal built the entire advance: the S&P/ASX 200 finished at 8,692.0 on 25 May 2026, up 0.40%, while energy fell hard.
- RSG.AU +9.39% was the index's top gainer with no company announcement, one of a clutch of gold miners that pushed the All Ordinaries Gold index up 4.93%; NST.AU +5.74%, GMD.AU +8.47% and GGP.AU +6.75% joined the move.
- WDS.AU −4.24%, STO.AU −3.64% and KAR.AU −5.69% led energy lower as Brent fell to a two-week low near US$95.43 (−4.8%) on optimism over a US–Iran agreement; the S&P/ASX 200 Energy index lost 2.41%.
- WHC.AU +8.70% and YAL.AU +7.48% drove coal higher after a 22 May gas explosion at China's Liushenyu mine in Shanxi killed at least 82 — the country's deadliest pit accident since 2009 — raising seaborne supply fears.
- QAN.AU +5.76% and VGN.AU +6.12% climbed as the crude slide cut the airlines' fuel bill, the mirror image of the oil-producer fall.
- 0.7170 — AUD/USD firmed 0.57% as the US dollar eased through the holiday session.
Sector scorecard
- Best: Gold — All Ordinaries Gold index +4.93%
- Worst: Energy — S&P/ASX 200 Energy index −2.41%
- Dispersion (best minus worst): 7.34 pts
- Energy supplied the heavy fallers; gold producers and coal names accounted for almost every big gainer, and three of the four major banks added small rises.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| PNV.AU | +11.89% | Unannounced — likely flow-driven. |
| BC8.AU | +11.00% | Gold developer; All Ords Gold index +4.93%. |
| RSG.AU | +9.39% | No company news; top index gainer on gold buying. |
| WHC.AU | +8.70% | China mine blast stokes coal supply fears. |
| GMD.AU | +8.47% | Gold producer; tracked the sector rally. |
| ARU.AU | −9.68% | A$350m placement at a 16.1% discount. |
| CAT.AU | −6.16% | Unannounced — likely flow-driven. |
| NAN.AU | −6.08% | Unannounced — likely flow-driven. |
| KAR.AU | −5.69% | Oil producer hit by Brent's two-week low. |
| VEA.AU | −5.63% | Refiner sold with the crude slide. |
Notable announcements
- ARU.AU −9.68%: Arafura Rare Earths launched a A$350m institutional placement priced at a 16.1% discount to its last close, funding the Nolans rare-earths project after the recent final investment decision; construction is targeted for around September 2026.
- QAN.AU +5.76%: rose even as a report flagged fresh delays to its Project Sunrise ultra-long-haul flights tied to Airbus supply, with the cheaper fuel outlook driving the gain.
- Coking coal: Chinese coking-coal futures rose about 8% to their daily limit after the Shanxi disaster, underpinning WHC.AU and YAL.AU.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| Brent crude | US$95.43 | −4.8% | Two-week low on US–Iran agreement optimism |
| AUD/USD | 0.7170 | +0.57% | Firmer as the US dollar eased |
| Gold | US$4,523/oz | −0.4% | Friday settle; COMEX shut Mon (Memorial Day) |
| S&P 500 | 7,473.5 | +0.37% | Friday close; Wall Street shut Mon (Memorial Day) |
Next 24h catalysts (AEST)
- Tue 26 May, 09:00 — ASX reopens; the overnight lead is thin with Wall Street shut Monday for Memorial Day.
- Tue 26 May (US session) — Wall Street returns from the holiday, the first US cash prints since Friday's S&P 500 close of 7,473.5.
- Wed 27 May, 11:30 — ABS Monthly CPI indicator for April, the week's main domestic data point; headline inflation was last running at 4.6% year-on-year.
- Energy and coal — US–Iran negotiation headlines stay the primary driver for ASX energy after Brent's two-week low, while the scope of China's post-Liushenyu mine-safety crackdown drives the coal names.
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