Company Interview / Market Update | Critical minerals, Orica, SiteMinder, Qantas, Argent Minerals, Medibank, Nanosonics, Vulcan Energy

ANZ cautions that the recent upbeat GDP data has altered expectations for interest rate cuts, with markets now less confident of a move on Melbourne Cup day. While ANZ’s head of economics indicates a November cut remains more likely than not, the stronger numbers suggest it’s possible that rate cuts may be off the table for the foreseeable future. The Australian dollar is notably stronger today as investors watch for key US nonfarm payrolls data. The local market is rounding out a volatile week, down 1.2% over five days and sitting about 2% off the highs seen during the August reporting season.

Prime Minister Anthony Albanese recently spoke to US President Trump, focusing on opportunities for collaboration in critical minerals and the importance of shared security interests, with Albanese set to visit the US for the UN General Assembly. Critical minerals stocks remain mixed, with Ascari Metals (ASX:AS2) down 11%, Australian Earths (ASX:AUM) down 4% and Green Critical Minerals (ASX:GCM) also off 4%. Orica (ASX:ORI) anticipates a strong financial year finish, despite ongoing litigation costs. Its $400 million share buyback is now 55% complete.

Elsewhere, SiteMinder (ASX:SDR) responded to an ASX query after a share price surge, while Vulcan Energy (ASX:VUL) shares gained more than 7% following a key project contract. Genesis Minerals (ASX:GMD) is up over 5% after being upgraded by Shaw and Partners, and Downer (ASX:DOW) and Charter Hall (ASX:CHC) attracted positive broker attention.