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Markets nudged higher on Monday as investors responded positively to signs of progress in US–China trade talks, with the S&P 500 gaining 0.09% to close at 6,005.88 and the Nasdaq rising 0.31%. The Dow Jones was flat. The cautious optimism followed high-level diplomatic meetings in London where US officials sought to ease export restrictions and restore the flow of critical minerals. Semiconductor stocks led the rally, with Qualcomm surging over 4% after announcing its US$2.4bn acquisition of UK-based Alphawave. AMD and Texas Instruments also posted strong gains. Apple, meanwhile, slipped 1.2% despite showcasing its first iOS redesign in over a decade, as investors remained unimpressed without new product breakthroughs.
What’s ahead in Australia:
Investor attention turns to Tuesday’s release of NAB’s business confidence survey and Westpac’s June consumer sentiment index—both closely watched for signals on domestic economic momentum. Globally, markets will be watching US inflation data due midweek, with the consumer price index (CPI) out Wednesday and producer price index (PPI) on Thursday—key inputs for assessing the Federal Reserve’s interest rate path.
Lefroy’s first toll milling agreement
Lefroy Exploration (ASX:LEX) has secured its first toll milling agreement for the Lucky Strike Gold Project, marking a key milestone toward production. Through mine-profit partner BML Ventures, the company has secured a February 2026 milling slot at Greenfields Mill in Coolgardie, with anticipated throughput of 80,000–90,000 tonnes. The company aims to secure toll milling for a total of 250,000 tonnes for Stage 1. Grade control drilling is nearing completion, diamond drilling is underway for a potential Stage 2 expansion, and a vegetation clearing permit has been submitted to support upcoming operations.
Metcash’s hardware business consolidation
Metcash (ASX:MTS) is merging its Independent Hardware Group (Mitre 10, Home Hardware) and Total Tools Holdings into a single business unit—Total Tools and Hardware Group—led by Scott Marshall. The merger is aimed at creating a stronger, unified hardware pillar, leveraging scale, shared customer bases, and operational synergies. Richard Murray, CEO of Total Tools, will depart the company following the restructure. Metcash also provided FY25 guidance, with group EBIT expected to be between A$504–508 million and underlying profit after tax slightly above consensus at A$273–277 million.
NextDC expansion and contract growth
NextDC (ASX:NXT) announced a 16MW increase in contracted utilisation, bringing its total to 244MW as of 31 May 2025. The company’s forward order book reached a record 135MW, boosted by a 10MW customer pre-commitment at its upcoming Tier IV-certified KL1 data centre in Kuala Lumpur, scheduled to open in early 2026. Revenue from these contracts is expected to ramp up in FY27 and fully materialise by FY28. CEO Craig Scroggie positioned KL1 as central to NEXTDC’s Asia strategy and the emerging AI-native infrastructure economy.
Westpac appoints Pip Greenwood to board, strengthening NZ ties
Westpac (ASX:WBC) has appointed Pip Greenwood as an independent Non-executive Director, pending regulatory approvals. Greenwood, already Chair of Westpac New Zealand and a director of The a2 Milk Company and Fisher & Paykel Healthcare, brings over 25 years of experience in capital markets, M&A, and governance. Her appointment highlights the strategic role of Westpac’s New Zealand operations and further strengthens the board’s expertise.

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