Daily Market Update: 22 August 2025

It was a big day for the Australian share market on Thursday, with the benchmark S&P/ASX 200 Index (ASX: XJO) nosing above 9,000 points for the first time ever – reaching an intraday record high of 9,013. The gauge pulled back during the afternoon to close up 101.1 points, or 1.1 per cent, at 9,019 points, a record-high close.

The broader All Ordinaries Index (ASX: XAO) advanced 106.8 points, or 1.2 per cent, to 9,284.

The index was helped by biotech giant CSL Limited (ASX: CSL) starting the rebuilding process after crashing earlier in the week: the stock gained $5.26, or 2.4 per cent, to $226.00. Among the big banks, ANZ Group Holdings Limited (ASX: ANZ) firmed 51 cents, or 1.5 per cent, to $33.92; Westpac Banking Corporation (ASX: WBC) put on 50 cents, or 1.3 per cent, to $38.73; National Australia Bank Limited (ASX: NAB) gained 36 cents, or 0.9 per cent, to $42.39; and Commonwealth Bank of Australia (ASX: CBA) rose $1.40, or 0.8 per cent, to $173.80.

Global pallets giant Brambles Limited (ASX: BXB) surged $3.07, or 13.2 per cent, to $26.30, after lifting its full-year net profit by 10 per cent and announcing a US$400 million share buyback. Electronics manufacturer Codan Limited (ASX: CDA) jumped $2.53, or 10.7 per cent, to $26.20 after reporting a 22 per cent rise in full-year revenue and a 27 per cent lift in net profit.

There was broad buying of mining stocks, with gold producer Vault Minerals Limited (ASX: VMC) the standout, up 5 cents, or 11.9 per cent, to 47 cents. Ramelius Resources Limited (ASX: RMS) gained 13 cents, or 4.7 per cent, to $2.90; West African Resources Limited (ASX: WAF) added 7 cents, or 2.7 per cent, to $2.70; Westgold Resources Limited (ASX: WGX) put on 7 cents, or 2.2 per cent, to $3.23; Newmont Corporation (NYSE: NEM) rose $1.79, or 1.7 per cent, to $107.07; and Perseus Mining Limited (ASX: PRU) lifted 6 cents, also 1.7 per cent, to $3.59.

Of the bulk miners, BHP Group Limited (ASX: BHP) gained 31 cents, or 0.7 per cent, to $42.06; Rio Tinto Limited (ASX: RIO) put on $1.11, or 1 per cent, to $114.01; and Fortescue Ltd (ASX: FMG) rose 33 cents, or 1.7 per cent, to $19.71.

In the US, the broad S&P 500 Index (NYSEARCA: SPY) slid for a fifth straight day, as traders and investors look to Federal Reserve Chair Jerome Powell’s speech on Friday. The S&P 500 Index (NYSEARCA: SPY) lost 25.61 points, or 0.4 per cent, to 6,370.17, while the 30-stock Dow Jones Industrial Average (INDEXDJX: DJI) softened by 152.81 points, or 0.3 per cent, to 44,785.5, and the tech-laden Nasdaq Composite Index (NASDAQ: IXIC) shed 72.54 points, or 0.3 per cent, to 21,100.31.

Markets eagerly await Federal Reserve Chair Powell’s remarks at the central bank’s annual symposium at the Wyoming ski resort of Jackson Hole, tonight our time, at which he is expected to offer insights into the path of interest rates, and hopefully – from the markets’ point of view – some respite from persistent inflation concerns. Fed funds futures are pricing in a nearly 75 per cent likelihood of the central bank cutting rates at its next policy meeting in September, according to CME’s FedWatch tool.

European and Asian equities retreated on the jitters around the Jackson Hole symposium, as gold prices eased under pressure from a stronger greenback.