ASX 200 closes flat at 8,765.3 as gold miners cancel out the banks
ASX 200 close: 8,765.3 (+0.09%) Breadth: 110 advancers / 110 decliners Sentiment: neutral
The S&P/ASX 200 closed at 8,765.3 on 23 September 2026, up 7.5 points or 0.09%, because a 1.57% gain in Materials almost exactly offset a 0.56% fall in Financials. Tuas TUA.AU fell 23.39% to $1.785 after FY26 results that lifted underlying net profit 328% to S$29.6 million left its Singapore regulatory position unresolved. Australia's flash composite PMI slipped to 50.8 from 52.7, with manufacturing back in contraction at 49.3 and services at 51.4.
What moved the index
- Materials (XMJ +1.57%): worth roughly 35 basis points of the 9 basis point index move on a sector weight near 22%. The gold sub-index XGD rose 2.50% while BHP.AU added 1.39% to $62.07 on the day it paid a US$5 billion final dividend, taking FY26 shareholder returns to US$8.7 billion.
- Financials (XFJ -0.56%): about 17 basis points of drag on a weight near 30%. CBA.AU fell 0.84% to $151.05, ANZ.AU 0.84% to $37.83, and IAG.AU 2.35% to $7.88 after the ACCC opposed its $1.35 billion purchase of RAC Insurance.
- Energy (XEJ -1.70%) and Utilities (XUJ -2.21%): roughly 10 basis points of drag combined. WTI fell 0.88% to US$89.72 and Brent sat at US$99.04, and WDS.AU dropped 1.71% to $31.13 with ORG.AU 3.12% lower at $10.86.
- A-REITs (XPJ +1.31%): about 9 basis points of lift, led by GMG.AU at +2.96% to $26.77.
Those four groups net to roughly 12 basis points against an actual index move of 9 basis points. The residual sits in Health Care at -0.62%, Communication Services at -0.96% and Information Technology at -0.61%, and in the 110 to 110 advancer-to-decliner split.
Session highlights
- 8,791.9 was the intraday high and 8,742.7 the low, a 49.2 point range, with about 26 points recovered off the low into the close.
- XGD gold index +2.50%: NST.AU rose 3.97% to $22.80, NEM.AU 3.01% to $177.02, EVN.AU 2.20% to $13.95 and RRL.AU 1.92% to $7.96, even with spot gold 0.29% lower at US$4,363.90/oz.
- AUD/USD fell 0.43% to 0.7089 after the PMI showed manufacturing back in contraction at 49.3 and job shedding resuming.
- Nikkei +1.4% and Hang Seng -0.9% into the AU close.
- NAB.AU still closed up 0.13% at $38.66 despite an outage that took down internet banking, the mobile app and NAB Connect for much of the session.
Sector scorecard
- Best: Materials (+1.57%)
- Worst: Utilities (-2.21%)
- Dispersion (best minus worst): 3.78 pts
- Materials showed the widest internal spread: CXO.AU +12.00% against EUR.AU -4.71%, with the gold names up 2% to 4% and the lithium juniors split in both directions.
Top movers
| Ticker | Move | Reason |
|---|---|---|
| CXO.AU | +12.00% | Unannounced, likely flow-driven. |
| CYL.AU | +6.57% | Top ASX 200 gainer, tracked the XGD gold index +2.50%. |
| SRL.AU | +5.71% | Moved with the materials rally, no company news. |
| ING.AU | +5.70% | No ASX announcement lodged. |
| PNR.AU | +5.61% | Gold producer, moved with the sector. |
| TUA.AU | -23.39% | FY26 net profit S$29.6m, up 328%, regulatory overhang unresolved. |
| EOS.AU | -6.89% | Unannounced, likely flow-driven. |
| NUF.AU | -6.25% | Guided FY26 crop protection earnings to $370m to $380m. |
| EUR.AU | -4.71% | No company news; CXO.AU ran +12.00% the other way. |
| XRO.AU | -4.67% | Extended the 2026 software drawdown, down more than 50% over 12 months. |
Notable announcements
- Myer MYR.AU reported a $276 million full-year loss on weak discretionary spending, and Solomon Lew joined the board. Shares closed unchanged at $0.175 after trading 10% higher early.
- IAG.AU: the ACCC opposed its $1.35 billion RAC Insurance acquisition on the grounds the combined group would hold 55% to 65% of the WA motor market. IAG is pursuing a public benefits application.
- Nufarm NUF.AU set FY26 crop protection earnings guidance at $370 million to $380 million.
- ProMedicus PME.AU appointed Tim Reed as a non-executive director from 1 October. PME.AU closed 1.84% lower at $161.31.
At the AU close (17:30 AEST)
| Asset | Level | Change | Context |
|---|---|---|---|
| S&P 500 (cash) | 7,764.64 | 0.00% | Prior US close, ahead of tonight's open |
| NASDAQ | 27,244.28 | +0.45% | Record close on Tuesday |
| Dow | 51,863.70 | -0.36% | |
| S&P futures | 7,837.50 | +0.07% | |
| Brent | US$99.04 | -0.21% | Hopes of a Strait of Hormuz reopening |
| WTI | US$89.72 | -0.88% | |
| Gold | US$4,363.90/oz | -0.29% | |
| Copper | US$6.816/lb | -0.31% | Holding near record levels |
| AUD/USD | 0.7089 | -0.43% | |
| VIX | 14.17 | -0.28% | |
| AU VIX | 11.00 | -3.49% |
Next 24h catalysts (AEST)
- Thu 09:00: ASX open; SPI tracks tonight's Wall Street session
- Thu 11:30: ABS job vacancies and detailed labour force data
- Thu 23:30: US weekly initial jobless claims
- Fri 00:00: US existing home sales
- Fri: Quarterly index rebalance effective, plus month-end positioning into 30 September
Context only. Not financial advice. Track your own trades with Swingfolio.