ASX 200 closes at 9,038.6, up 1.01%, as the June CPI undershoot takes an August hike off the table
ASX 200 close: 9,038.6 (+1.01%) Breadth: 125 advancers / 79 decliners (216 large caps swept) Sentiment: bullish
The S&P/ASX 200 closed at 9,038.6 on 29 July 2026, up 90.8 points or 1.01%, after June quarter inflation undershot forecasts and pushed an 11 August RBA increase out of market pricing. CSL.AU rose 7.15% to $128.07 after detailing a next-generation plasma process, Horizon 2, that raises immunoglobulin output from the same volume of donated plasma. Headline CPI eased to 3.8% from 4.0% and the trimmed mean printed 3.6% against a 3.7% market forecast, which lifted rate-sensitive retail, property and healthcare while the four major banks finished flat.
What moved the index
- Materials: BHP.AU +1.36%, RIO.AU +3.67% and FMG.AU +2.03% supplied about 28 bps of the 101 bps index move. RIO.AU reported half year revenue up 15% to US$31.0bn, underlying EBITDA up 28% to US$14.8bn and a dividend 43% higher, its largest in four years.
- Health Care: XHJ rose 4.24%, the strongest of the eleven sectors, worth roughly 25 bps. CSL.AU delivered 15 bps of that alone, with RMD.AU +3.59%, SHL.AU +3.23% and COH.AU +2.19% behind it.
- Consumer: XDJ +2.37% and XSJ +1.98% added about 23 bps once the inflation print cut August hike odds. LOV.AU +7.88%, DMP.AU +5.28%, APE.AU +5.27%, NCK.AU +4.81% and JBH.AU +4.67% all cleared 4.5%.
- Financials: XFJ +0.19% was the weakest sector and contributed roughly 6 bps while holding about 30% of index weight. CBA.AU -0.07%, NAB.AU -0.02% and WBC.AU -0.21% all closed lower, leaving ANZ.AU +1.37% as the only major bank higher.
Those four blocks span five sectors and account for about 84 bps of the 101 bps move. Real estate, communication services, energy and technology add another 14 bps, leaving a residual near 3 bps. All eleven sectors finished higher, with utilities (XUJ) the second weakest at +0.25%.
Session highlights
- 9,038.6 is the first ASX 200 close above 9,000 since 2 March 2026 and the third consecutive up session, a 3.04% run from the 24 July close of 8,772.3.
- 9,086.1 marked the session high before the index gave back 47.5 points into the 16:00 close.
- 58 basic materials names split 26 up and 26 down, and the sector still added the most index points because BHP.AU, RIO.AU and FMG.AU hold the weight.
- XVI, the local volatility index, rose 2.03% to 11.389 even as the index gained 1.01%.
- AUD/USD fell 0.31% to 0.6957 after the inflation print landed below forecast.
Sector scorecard
- Best: Health Care (XHJ) +4.24%
- Worst: Financials (XFJ) +0.19%
- Dispersion (best minus worst): 4.05 pts
- Basic materials showed the widest internal split, 26 of 58 names up against 26 down, from MIN.AU +4.75% at one end to LTR.AU -7.92% at the other.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| LOV.AU | +7.88% | Top ASX 200 performer on the retail rate trade. No company news. |
| CSL.AU | +7.15% | Horizon 2 process lifts immunoglobulin output per litre of plasma. |
| DMP.AU | +5.28% | Consumer discretionary re-rate; no company news. |
| APE.AU | +5.27% | Car retail bid as household borrowing cost expectations fell. |
| SGP.AU | +4.96% | Property trust demand once the August hike left market pricing. |
| DVP.AU | -17.56% | June quarter update; Woodlawn output and valuation in focus. |
| MP1.AU | -8.40% | Unannounced, likely flow-driven. Shares still up 155% since April. |
| WBT.AU | -8.33% | No announcement. Asian chip names fell hard the same session. |
| LTR.AU | -7.92% | Record $137m June quarter cash flow, sold on the cost outlook. |
| BNZ.AU | -7.04% | Gold explorer, no company news. Bullion flat at US$4,045/oz. |
Notable announcements
- RIO.AU posted half year revenue of US$31.0bn, up 15%, underlying EBITDA of US$14.8bn, up 28%, free cash flow up 75%, and lifted the dividend 43%. Pilbara iron ore recorded its highest first half production since 2018.
- CSL.AU said clinical work on Horizon 2 begins in mid 2027 using material from Broadmeadows, alongside an expansion of its Kankakee plant in Illinois, after discussions with the US FDA and the European Medicines Agency.
- LTR.AU booked record June quarter net cash flow of $137m and closed the period with $561m of cash. The stock still fell 7.92% on the cost outlook for the Kathleen Valley underground ramp-up.
- ALX.AU reported flat second quarter toll revenue and added a A$150m corporate loan facility.
- ABS put headline CPI at 3.8% for the twelve months to June, down from 4.0%, with new dwelling costs up 5.8%, the highest reading in almost three years.
At the AU close (16:15 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 futures | 7,477.75 | +0.17% | Ahead of the FOMC decision at 04:00 AEST |
| Nasdaq 100 futures | 27,917.25 | -0.02% | Flat while Asian chip names sold off |
| KOSPI | 5,663.24 | -5.98% | SK Hynix fell 12.8%, Samsung Electronics 7.7% |
| Nikkei 225 | 61,434.19 | -1.49% | Closed lower with the regional chip selloff |
| Hang Seng | 25,756.06 | +1.76% | Still trading at the AU close |
| Brent | US$87.20 | +3.70% | IRGC struck three tankers in the Strait of Hormuz |
| Gold | US$4,045.20/oz | +0.16% | Held its range through the Asian session |
| AUD/USD | 0.6957 | -0.31% | Sold on the softer trimmed mean print |
Brent has recovered part of a 16% fall across the previous three sessions. That drop, the steepest over three days since 2020, followed the pause in US and Iran hostilities.
Next 24h catalysts (AEST)
- Thu 04:00 FOMC rate decision, with Chair Powell's press conference at 04:30
- Thu 10:00 ASX open; June quarter reports continue
- Thu 22:30 US Q2 GDP advance estimate, consensus 2.3%, plus the June core PCE price index
- Tue 11 Aug RBA cash rate decision, the meeting today's inflation print reframed
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