ASX 200 edges up 0.2% as WiseTech rebounds 14% and CPI cools
ASX 200 close: 8,808.4 (+0.24%) All Ordinaries: 9,012.6 (+0.27%) Sentiment: mixed
The S&P/ASX 200 closed at 8,808.4 on 24 June 2026, up 0.24% or 21.4 points, snapping a four-session slide as WiseTech led a tech rebound and May headline inflation eased to 4.0%. WiseTech (WTC.AU) jumped 14.26% to $32.86, recovering from a seven-year low after the company separated its business from the personal legal scrutiny facing founder Richard White. The gain stayed narrow: a gold-miner and iron-ore selloff, with spot bullion down 1.10% and Rio Tinto (RIO.AU) off 1.19%, kept the index below its early-week levels.
What drove the move
The index rose as a tech and financials bid outweighed a gold and iron-ore selloff.
- WiseTech and Xero: WTC.AU +14.26% and Xero (XRO.AU) +8.17% added roughly +9 basis points between them. WiseTech rebounded from a seven-year low after the company said its operations are separate from the Australian Federal Police matter involving its founder; Xero rose alongside it.
- Big four banks: NAB (NAB.AU) +1.10%, Westpac (WBC.AU) +0.85% and Commonwealth Bank (CBA.AU) +0.35%, against ANZ (ANZ.AU) -0.28%, added about +10 basis points on their roughly 22% combined index weight, firming after the softer headline CPI even as the trimmed mean rose to 3.6%.
- CSL (CSL.AU) +2.63% to $114.99 added around +5 basis points, the largest single healthcare contribution.
- Iron ore and gold drag: BHP (BHP.AU) -0.70% and RIO.AU -1.19% cost about -7 basis points as iron ore touched a near four-month low, while gold spot down 1.10% pulled Evolution (EVN.AU) -2.29% and Bellevue (BGL.AU) -6.03% lower.
Together the banks, WiseTech, Xero and CSL did most of the lifting; the iron-ore and gold selloff (about -13 basis points) kept the gain to +0.24%, with the balance spread across consumer staples (Woolworths (WOW.AU) +1.63%, Wesfarmers (WES.AU) +0.96%). The selling was concentrated in mid-cap gold: the index-heavy producers held up, with Northern Star (NST.AU) closing -0.15% while names like BGL.AU fell 6.03%.
Session highlights
- WTC.AU +14.26% to $32.86 was the index's biggest single contributor, a one-session rebound from a seven-year low reached during this week's selloff.
- XRO.AU +8.17% to $70.31 led a software bid; the two large ASX tech names moved together.
- Rare earths and lithium extended their run: Lynas (LYC.AU) +4.03%, Iluka (ILU.AU) +4.69% and IGO (IGO.AU) +5.45%. Iluka rose on its first binding rare-earth offtake to a global carmaker, and tighter Chinese export quotas supported Lynas.
- Gold producers fell with spot bullion down 1.10%: BGL.AU -6.03%, Capricorn (CMM.AU) -4.66% and Resolute (RSG.AU) -4.63%, though NST.AU held at -0.15%.
- Beach Energy (BPT.AU) -8.51% to $0.86 hit a multi-year low, extending a slide tied to a 67% interim dividend cut and Waitsia project spending, with Brent down 1.26%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| WTC.AU | +14.26% | Rebound from a seven-year low; company separated its business from the founder's legal matter |
| ELV.AU | +8.58% | Lithium developer; the critical-minerals complex extended its run |
| XRO.AU | +8.17% | Software buying alongside WiseTech's bounce |
| TLX.AU | +8.04% | Radiopharma bid; its glioma imaging agent sits in FDA review to a September decision |
| IGO.AU | +5.45% | Lithium and nickel; ex-China supply premium |
| BPT.AU | -8.51% | Multi-year low; 67% dividend cut and Waitsia capex, Brent -1.26% |
| BGL.AU | -6.03% | Gold producer; spot bullion -1.10% |
| IAG.AU | -4.95% | No disclosed catalyst |
| EVN.AU | -2.29% | Large-cap gold caught in the same selloff |
| RIO.AU | -1.19% | Iron ore at a near four-month low |
Notable announcements
- WiseTech (WTC.AU) reiterated that its operations are separate from the matter involving founder Richard White, and the stock rebounded 14.26%.
- May CPI: headline inflation eased to 4.0% year on year from 4.2% in April, while the trimmed mean rose to 3.6% from 3.4%, its highest since 2024. Housing (+6.5%), food (+3.3%) and transport (+3.3%) led the annual increase.
- Iluka (ILU.AU) +4.69% after signing its first binding rare-earth sale, with a global carmaker agreeing guaranteed floor prices that do not rely on government support.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures | 7,447.5 | +0.13% | Live e-mini during AU hours |
| Nasdaq 100 futures | 29,811 | +0.49% | Tech futures firmer into tonight |
| US VIX | 19.49 | 0.0% | Calm Wall Street setup |
| Brent | US$76.11 | -1.26% | Oil softer, pressured energy |
| Gold | US$4,103.6/oz | -1.10% | USD index +0.16% weighed on bullion |
| AUD/USD | 0.6908 | -0.19% | Aussie eased after the CPI print |
Next 24h catalysts (AEST)
- Thu 09:00: SPI open; S&P 500 futures +0.13% and Nasdaq futures +0.49% point higher into tonight's US session.
- Thu: gold spot and iron ore prints stay the swing factor for ASX materials after today's selloff.
- This week (US, overnight): May US PCE inflation, the Federal Reserve's preferred gauge, the main offshore event into the weekend.
Context only, not financial advice. Track your own trades with Swingfolio.