Market Wrap / commodity concerns

On the final day of FY25, the S&P/ASX 200 closed 0.3% higher to finish at 8542.3 points. Over the past financial year, it rose 10% despite a severe drop around the US tariffs announcement in April. This Monday, gains came despite real headwinds in the materials sector.China's manufacturing activity shrank for a third month; and the government’s commodity report anticipates that earnings from iron ore will fall by $11 billion to $105 billion in the next 12 months. Unsurprisingly, BHP was down 2.1% while Rio Tinto shed 1.7%. However, some gold players like Newmont gained ground; gold is expected to become Australia’s third-highest value export, overtaking coal.In company news, Brickworks has upgraded its guidance, while James Hardie sprung 7.1% after AZEK shareholders approved the $8.75 billion takeover. Elsewhere - the financials were more contrasted. CBA continued to recede from record highs, however, NIB jumped 9.4% on a broker upgrade underlining valuation opportunities. Tomorrow, the real-estate sector will be in focus with home values data forecasted to show a 0.6% increase over June.