Market Wrap / tariff trepidation

The S&P/ASX 200 slipped 0.2% on Monday, finishing at 8,589.3 points as investors look ahead to tomorrow’s closely watched RBA rate decision.The local market was notably weighed down by the gold miners' performance. Pricing in the physical commodity fell as US President Donald Trump signalled progress on multiple trade deals. Northern Star Resources dropped by 8.7% with production at the lower end of its guidance. Bellevue Gold advanced 1.6% as it reached record production rates over the last quarter of FY25. In company news, South32 said that it has agreed to sell its Cerro Matoso nickel operation in Colombia, sending shares down by 0.6%.

And Nanosonics leapt 1.6% on the launch of a new software. Tomorrow, the RBA will hand down its interest rate decision, with a 25 basis point cut widely expected.