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Market Wrap / over the hump

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over the hump

Market Wrap22 Jul, 2026

Australian shares moved higher on Wednesday, following positive moves on global markets.

Locally it was the mining stocks that were snapped up after a recent sell-off which helped propel the S&P/ASX200 0.34% higher to finish at 8823.

The mining heavyweights did much of the lifting, led by BHP which rose 2.5%, buoyed by a surging copper price, while South32 jumped 4.6%.

The gold miners also enjoyed a positive session with Ramelius Resources adding 2.8% after raising gold production targets.

Lynas bucked the trend, falling 3.6%, after a cost blowout at its rare earths expansion project in Malaysia.

Energy was the only other positive sector, fueled by the rising price of oil - Karoon up 4.4% and Paladin rallied 6.6%, after boosting its uranium production forecast.

The tech sector lost ground with WiseTech falling 0.47% after buying an AI-powered supply chain technology company.

And healthcare stocks also suffered, led lower by Pro Medicus, which lost 3.7%.

Tonight, all eyes will be on results from Alphabet and Tesla and tomorrow we get local jobs data for June. 

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