Sunday 28th September 2025
Daily Market Update: 29 September 2025
Copper surge boosts materials, Sandfire jumps, Woodside gains, Seven Group chair to leave
The S&P/ASX 200 Index (ASX: XJO) bounced back from early weakness to close 0.1 per cent higher on Thursday, as a copper rally drove the materials sector up 1.6 per cent, offsetting losses in eight of eleven sectors. Copper prices spiked after Freeport-McMoRan Inc (NYSE: FCX) declared force majeure at its Indonesian mine, the world’s second-largest producer. Sandfire Resources Limited (ASX: SFR) jumped 7.6 per cent, while BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) each rose more than 3 per cent. Oil and gas producers also advanced, with Woodside Energy Group Ltd (ASX: WDS) up 2.5 per cent and Santos Limited (ASX: STO) up 1.2 per cent, as rising geopolitical tensions boosted crude above 64 US dollars a barrel. Seven Group Holdings Limited (ASX: SGH)announced chairman Terry Davis will retire early next year as part of a board refresh.
Macquarie to refund Shield investors, Premier gains despite Smiggle woes
Macquarie Group Limited (ASX: MQG) slipped just over 1 per cent after agreeing to refund 321 million dollars to investors affected by the failed Shield Master Fund, following an ASIC investigation. The product had been sold through the Macquarie Wrap platform and was linked to aggressive adviser tactics and poor fund governance. Focus now turns to Netwealth Group Limited (ASX: NWL), which also had exposure. Meanwhile, Premier Investments Limited (ASX: PMV) rose more than 2 per cent despite posting a 22 per cent drop in profit to 144 million dollars, following the sale of its apparel brands to Myer Holdings Limited (ASX: MYR). Bright spots included a 7.7 per cent sales rise at Peter Alexander, though Smiggle revenues fell over 10 per cent.
Hot economic data stalls rally, Oklo nuclear stocks fall, CarMax weakens
US markets remain in a delicate balance, buoyed by strong corporate activity yet tempered by macro-risks. GDP showed the fastest growth in two years, with durable goods orders rising and jobless claims falling, dampening the “soft landing” narrative. CarMax Inc (NYSE: KMX) sank after reporting weaker-than-expected used car sales, dragging peers like Carvana Co (NYSE: CVNA) lower. Nuclear-exposed stocks such as Oklo Inc (NYSE: OKLO) plunged after President Trump flagged accelerated energy projects, making nuclear less attractive.
| Australian Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| ASX 200 | 0.1 | 0.2 | -0.9 | 4.0 | 10.5 |
| Financials | 0.5 | -1.7 | -2.0 | -1.9 | 18.5 |
| Resources | 0.3 | 5.0 | 3.7 | 19.7 | 8.6 |
| Information Technology | -0.7 | -1.4 | -2.9 | 6.7 | 23.3 |
| Global Indices | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| US 500 | 0.6 | -0.1 | 1.4 | 7.8 | 23.2 |
| Europe | 0.0 | -0.4 | -1.3 | 2.4 | 17.9 |
| Japan | 0.1 | 0.4 | 1.1 | 8.8 | 22.3 |
| China top 50 | -0.6 | 0.2 | 3.8 | 10.6 | 40.4 |
| India top 50 | -0.4 | -1.4 | -1.7 | -5.8 | -4.2 |
| Fixed Interest | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Australian Treasury Bond | -0.2 | -0.6 | -0.2 | -0.6 | 2.7 |
| Australian Corporate Bond | -0.2 | -0.6 | -0.1 | -0.2 | 3.6 |
| US Treasury | -0.2 | -0.3 | 1.0 | 1.2 | 0.2 |
| Cash | 0.0 | 0.1 | 0.3 | 0.9 | 4.3 |
| Commodities & Crypto | Daily % | Weekly % | 1 Month % | 3 Month % | 1 Year % |
| Gold | 0.8 | 2.6 | 9.9 | 12.3 | 47.8 |
| Silver | 2.7 | 7.2 | 16.0 | 22.7 | 48.3 |
| Crude Oil | 1.1 | 4.2 | 3.5 | 4.1 | 8.8 |
| Bitcoin | -1.6 | -5.3 | -2.1 | 1.3 | 73.1 |
