ASX 200 closes flat as banks and oil offset a tech and gold selloff
ASX 200 close: 8,808.5 (+0.03%) Breadth: five sectors up, six down Sentiment: mixed
The S&P/ASX 200 closed at 8,808.5 on 13 July 2026, up 2.5 points or 0.03%, a flat headline that hid a sharp defensive rotation rather than any single driver. A fourth round of US strikes on Iran in a week pushed Brent crude up 3.80% to US$78.90 and lifted fuel names Ampol ALD.AU (+4.17%) and Viva VEA.AU (+3.56%) alongside the big four banks, while technology, healthcare and gold miners fell. Nasdaq futures fell 1.27% during local hours, pulling Xero XRO.AU down 4.31% and WiseTech WTC.AU down 2.00%.
What moved the index
The index barely moved because gains and losses roughly cancelled. Positive sectors added about 33 basis points and the drags subtracted about 30, leaving the ASX 200 up 2.8 basis points.
- Financials (+0.67%) was the largest positive, worth about 20 basis points on the sector's near-30% index weight. ANZ.AU (+1.14%), NAB.AU (+1.11%), WBC.AU (+0.99%) and CBA.AU (+0.68% to $170.00) all rose with no company news, as investors favoured franked income on a risk-off session.
- Materials (-0.65%) was the largest drag, worth about 12 basis points on its roughly 19% weight. Gold miners NST.AU (-2.83%) and EVN.AU (-1.81%) fell with bullion down 1.20%, and lithium names PLS.AU (-3.24%) and LTR.AU (-4.36%) extended their slide, while iron ore held with FMG.AU (+1.62%) and BHP.AU (+0.10%).
- Information Technology (-2.49%) was the worst sector, about 8 basis points of drag. XRO.AU (-4.31%), NXT.AU (-3.16%) and WTC.AU (-2.00%) tracked Nasdaq futures 1.27% lower.
- Energy (+0.66%) and Consumer Discretionary (+0.86%) added about 9 basis points between them. ALD.AU (+4.17%) and VEA.AU (+3.56%) rode the oil spike, and Wesfarmers WES.AU (+1.81%) led the discretionary sector higher.
The residual sits in Healthcare (-0.61%) and Consumer Staples (-0.91%), where CSL.AU (-1.26%), WOW.AU (-0.80%) and COL.AU (-1.87%) weighed on the close.
Session highlights
The S&P/ASX 200 closed at 8,808.5 on 13 July 2026, up 0.03%, after whipsawing from an early 8,818.8 high to an 8,769.8 low as the oil spike hit risk appetite before a late recovery.
- ANZ.AU (+1.14%), NAB.AU (+1.11%) and WBC.AU (+0.99%) led the big four; CBA.AU added 0.68% to $170.00 with no company news behind the move.
- Brent crude BZ=F rose 3.80% to US$78.90 after a fourth US strike on Iran, lifting ALD.AU (+4.17%), VEA.AU (+3.56%) and KAR.AU (+2.12%).
- RMD.AU fell 4.86% to $28.57, the heaviest large-cap drag, as its ASX CDIs caught the US stock's slide from about US$218 to US$204 over the prior week.
- ^AXVI, the local volatility gauge, rose 6.50% to 11.12 while the US VIX jumped 8.80% to 16.35 as US futures pointed lower.
Sector scorecard
- Best: Communication Services (+0.89%)
- Worst: Information Technology (-2.49%)
- Dispersion (best minus worst): 3.38 pts
- Materials (-0.65%) masked the widest internal split: gold and lithium fell (NST.AU -2.83%, PLS.AU -3.24%) while iron ore majors held (FMG.AU +1.62%, BHP.AU +0.10%).
Top movers
| Ticker | Move | Reason |
|---|---|---|
| SMR.AU | +4.68% | Coal producer firmed with the energy sector. |
| ALD.AU | +4.17% | Fuel refiner rose as Brent crude jumped 3.80%. |
| VEA.AU | +3.56% | Fuel retailer rose on the oil spike. |
| WES.AU | +1.81% | Wesfarmers topped the consumer discretionary sector. |
| KCN.AU | -12.83% | Gold producer; no announcement, likely flow-driven. |
| WBT.AU | -10.60% | Weebit Nano fell with the tech selloff. |
| RMD.AU | -4.86% | ASX CDIs tracked ResMed's US line lower. |
| AGL.AU | -3.67% | Broker downgrade drove utilities to a 1.63% loss. |
Notable announcements
- AGL.AU (-3.67%) fell on a broker downgrade, the standout single-stock news in an otherwise quiet domestic session.
- No major ASX-listed earnings or M&A hit the tape; the next catalyst is offshore, with US bank reporting due to begin.
- NAB.AU paid its 85-cent fully franked interim dividend on 2 July, roughly a week before Monday's session.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures (ES=F) | 7,586.5 | -0.44% | Pointing lower into the US session |
| Nasdaq 100 futures (NQ=F) | 29,651.5 | -1.27% | Tech-led weakness pressured AU tech |
| US VIX | 16.35 | +8.80% | Volatility bid on the oil spike |
| Brent crude | US$78.90 | +3.80% | US-Iran strikes, Strait of Hormuz risk |
| Gold | US$4,064/oz | -1.20% | Bullion eased, gold miners followed |
| AUD/USD | 0.6934 | -0.30% | US dollar firmer, DXY +0.11% |
Next 24h catalysts (AEST)
- Tue 10:00: ASX 200 open; the SPI will track Wall Street's Monday session and the Brent crude price.
- Wed early hours: Goldman Sachs and JPMorgan report Q2 results overnight, opening US bank earnings season.
- This week: US megabank earnings continue; consensus expects S&P 500 second-quarter profit up about 24%.
- Ongoing: US-Iran developments and Strait of Hormuz shipping, the main swing factor for oil and risk appetite.
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