ASX 200 closes 0.50% higher at 8,806 as miners snap a four-day slide
ASX 200 close: 8,806.0 (+0.50%) Breadth: 120 advancers / 80 decliners (219 large caps surveyed at the close) Sentiment: bullish
S&P/ASX 200 closed at 8,806.0 on 10 July 2026, up 43.5 points or 0.50%, ending a four-session losing streak as Materials rose 2.32% on an overnight bounce in copper, aluminium and gold. BVS.AU gained 15.12% after lifting FY26 cash EBITDA guidance to about $77 million, the largest single-name move of the session. Spot gold settled 1.09% higher overnight at about US$4,123 an ounce and copper added 2.16%; Health Care fell 1.96% and was the session's largest drag.
What moved the index
- Materials (+2.32%): about 45 basis points of the 50 basis point index move, at a sector weight near 19%. Copper rose 2.16% overnight, aluminium 2.27%, zinc 2.32% and silver 2.94%. The sector bounced off its 200-day moving average after falling as much as 14% since 17 June.
- Financials (+0.55%): about 19 basis points, at a weight near 34%. All four majors closed higher: CBA.AU +0.45%, WBC.AU +0.94%, NAB.AU +0.84%, ANZ.AU +0.81%. MQG.AU added 0.91%.
- Health Care (-1.96%): about 14 basis points of drag. CSL.AU fell 2.10%, PME.AU 6.34%, TLX.AU 3.96% and COH.AU 1.67%, unwinding part of an almost 25% sector run since 3 June.
- Consumer Discretionary (-1.13%): about 7 basis points of drag. WES.AU fell 1.29% and ALL.AU 1.06%.
Together those four account for roughly 43 of the 50 basis points. A-REITs (+0.59%) added about 4 basis points, against small declines in industrials, staples, communications and info tech. Sector weights here are approximate. Treat the basis-point split as indicative.
Session highlights
SLX.AU rose 9.40% on 10 July 2026, the largest gain among the local uranium names, after Australia agreed to sell uranium to India for civil power generation.
- DYL.AU +7.43%, BMN.AU +7.25%, BOE.AU +6.72% and PDN.AU +4.14% followed. Albanese and Modi signed the agreement in Melbourne. Neither government disclosed volumes or a time frame.
- 2.65% rise in the All Ords Gold index, its first gain in five sessions. PNR.AU +5.29%, RSG.AU +5.56%, BC8.AU +5.56%, OBM.AU +5.16% and EVN.AU +3.38%. Gold is still about 3% lower over the past month.
- RIO.AU +3.77%, BHP.AU +2.48% and FMG.AU +1.99% closed higher together. Aluminium rose 2.27% overnight and copper 2.16%.
- CSC.AU +6.45% and SFR.AU +3.75% led the copper names. SFR.AU extended Black Butte's mine life 50% to 12 years in a study update.
- S&P/ASX 200 VIX fell 8.82% to 10.45.
Sector scorecard
- Best: Materials (+2.32%)
- Worst: Health Care (-1.96%)
- Dispersion (best minus worst): 4.28 pts
- Info Tech closed 0.60% lower with 15 of its 23 constituents higher. BVS.AU +15.12% and WBT.AU +7.11% against PME.AU -6.34% and SDR.AU -4.37%.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| SLX.AU | +9.40% | Australia agreed to sell uranium to India |
| MLX.AU | +7.69% | No announcement. Zinc +2.32%, copper +2.16% overnight |
| DYL.AU | +7.43% | Uranium supply agreement signed in Melbourne |
| BMN.AU | +7.25% | Same uranium agreement; BMN.AU +5.7% year to date |
| WBT.AU | +7.11% | Unannounced, likely flow-driven |
| PME.AU | -6.34% | Health care and tech both fell; PME.AU -10.1% year to date |
| EOS.AU | -6.24% | No announcement. EOS.AU -15.6% across the week |
| TVN.AU | -5.56% | No announcement |
| ASB.AU | -5.34% | Defence names fell together; ASB.AU -10.7% across the week |
| SDR.AU | -4.37% | Tech names fell; SDR.AU -38.7% year to date |
Notable announcements
- BVS.AU +15.12%: lifted FY26 cash EBITDA guidance to about $77 million, from a $69 million to $77 million range, an 8% upgrade at the midpoint on project services demand and a GBP/AUD assumption of 1.92.
- SFR.AU +3.75%: extended Black Butte's mine life 50% to 12 years, with probable reserves of 14.3 million tonnes at 2.6% copper for 370,000 tonnes of contained metal.
- WTC.AU -1.82%: said DSV remains under contract to September 2028, with CargoWise transaction volumes up about 20% over six months.
- ELV.AU -1.88%: lifted June-quarter spodumene production 15% to about 54,479 dry metric tonnes, and realised US$919 per tonne sold, below spot on lagged contract pricing.
- NXT.AU +0.80%: signed binding documentation for $2.3 billion of new senior debt facilities, $500 million above the commitments flagged in May.
- RFF.AU +1.51%: sold five assets for $255.6 million at a 22.7% premium to December book value, cutting pro forma gearing to 31.6% from 39.1%.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures | 7,577.25 | -0.15% | S&P 500 cash closed 0.81% higher overnight |
| Nasdaq 100 futures | 29,803.25 | -0.45% | Nasdaq cash gained 1.30% on semiconductor strength |
| VIX | 16.06 | +1.39% | US 10-year yield at 4.539%, down 3 basis points |
| Brent | US$75.64 | -0.87% | Hormuz transits fell to 13 tankers on Wednesday from a 33-a-day average |
| Gold (Aug futures) | US$4,124.40/oz | -0.40% | Spot settled 1.09% higher overnight, lifting the local gold index 2.65% |
| Copper | US$6.2925/lb | +0.43% | US Section 232 copper tariff decision still pending |
| AUD/USD | 0.6951 | +0.13% | US dollar index eased 0.12% |
Next 24h catalysts (AEST)
- Fri, tonight: US cash session opens. S&P 500 futures were 0.15% lower and Nasdaq 100 futures 0.45% lower at the AU close.
- Mon 10:00: ASX cash open, referencing Friday's Wall Street session, which has yet to trade.
- Mon 10:30: Westpac and Melbourne Institute Consumer Sentiment for July. Prior index 80.6, prior change -2.9%.
- Mon 11:30: NAB Business Survey for June. Prior business confidence -14.
- Wed 11:00: Melbourne Institute Consumer Inflation Expectations for July. Prior 5.5%.
- Thu 16 Jul: China Q2 GDP.
Context only, not financial advice. Track your own trades with Swingfolio.