Sydney, January 13, 2026, 21:57 AEDT — Market closed
- Australian shares closed up, driven by gains in miners and major banks, as energy stocks underperformed.
- Endeavour dropped, citing margin pressure, while GQG declined following reports of net outflows.
- Investors are shifting focus to Wednesday’s U.S. inflation figures and the RBA meeting slated for early February.
Australian shares ended Tuesday on a positive note, as the S&P/ASX 200 index climbed 0.56% to 8,808.50 points.
The gain came after a bounce back in commodity-driven risk appetite, as investors prepared for new waves of macro news amid intensified scrutiny of U.S. Federal Reserve chair Jerome Powell and escalating geopolitical tensions. “Trump is pulling at the loose threads of central bank independence,” noted Andrew Lilley, chief rates strategist at Sydney’s Barrenjoey.
Closer to home, the debate on local rates remains unsettled. Westpac’s consumer sentiment index dropped 1.7% in January. Matthew Hassan, head of Australian macro-forecasting at Westpac, warned that rising mortgage rates might “compound household caution,” intensifying the spending headwinds. (Reuters)
Miners and banks bore the brunt of the gains. Materials surged 2.0%, financials edged up 0.7%, and energy dropped 1.2%. BHP rose 2.3%, Rio Tinto added 2.2%, and gold producer Northern Star climbed 3.6%. On the downside, Ampol slipped 4.8%, while liquor retailer Endeavour Group fell 2.9%.
Endeavour reported a 1% rise in first-half group sales, reaching A$6.68 billion. However, profit before tax (pre significant items) is projected between A$400 million and A$411 million, weighed down by heavier promotions that cut retail gross margin. The company expects retail gross profit margin to fall about 85 basis points — or 0.85 percentage points — from the previous year. CEO Jayne Hrdlicka noted the group’s pricing strategy has “generated positive sales results” amid tough competition. (ASX Announcements)
GQG Partners dropped 8.6% to A$1.64 after reporting December net outflows of US$2.1 billion, pushing full-year net outflows to US$3.9 billion. The fund manager’s assets under management closed 2025 at US$163.9 billion. The firm said it maintained a “defensive positioning” through year-end and noted some relative underperformance against benchmarks. Its next funds update is scheduled for Feb. 11. (MarketScreener)
The Australian dollar held steady around $0.6707, with iron ore ticking up 0.5% to roughly $109.05 a tonne, providing some support to bulk miners as the session wound down. Attention now shifts to U.S. December consumer inflation figures, set for release early Wednesday AEDT, which could steer the next move in global interest rate expectations. (ABC)
Lithium remained in the spotlight. Prices in China jumped 9% Monday following Beijing’s announcement that it will begin phasing out value-added tax export rebates on battery products. This move drove the most-active lithium carbonate futures contract up to 156,060 yuan a tonne, Reuters reported.
A hotter-than-expected U.S. CPI reading could swiftly undercut demand for rate-sensitive sectors like tech and property, while a stronger dollar might weigh on commodity-linked stocks. Australian shares risk a setback too if local data reignites speculation about another Reserve Bank of Australia rate hike.
The next hurdle arrives swiftly: U.S. CPI data drops Wednesday, followed by the RBA board meeting on Feb. 2-3. Markets will also focus on the updated forecasts in the Statement on Monetary Policy released Feb. 3. (Reserve Bank of Australia)
