The ASX 50 finished Monday virtually flat at 8,822, as strength in logistics, industrial services, and financials was offset by weakness in electronic technology, consumer, and healthcare stocks. The subdued performance followed two consecutive sessions of declines, with sentiment still fragile despite reports that U.S. and Iranian officials had agreed on a roadmap aimed at securing a final deal within 60 days.
Investors also looked ahead to key U.S. inflation data later this week for guidance on the Federal Reserve’s policy outlook, while domestically the focus shifted to May CPI and labor market figures, which could influence expectations for the Reserve Bank of Australia’s next move after it left interest rates unchanged last week.
In corporate news, SGH Ltd. climbed 3.3% after announcing a share buyback of up to AUD 500 million, and two of the big four banks advanced between 0.3% and 0.6%. On the downside, Wisetech Global slumped 16.1% after police launched an investigation into its founder over alleged visa misconduct and exploitation. Other notable laggards included Xero (-3.5%), TPG Telecom (-3.2%), and Nextdc Ltd. (-2.8%).
