ASX 200 advances to start the week

• The ASX 200 advanced marginally to begin the week, showing resiliance despite Wall Street sell-off
• Investor focus remains on developments in global tariff tension.
• Commodities may see increased volatility, with trade tensions likely to influence price movements.

During Monday’s trading session, the ASX 200 rose marginally on Monday in a relatively swift move, continuing to respect its established range. Market activity suggests a wait-and-see approach, likely due to a combination of ongoing tariff tensions and the typical slowdown associated with the northern hemisphere’s summer period.

Much of the global trading volume tends to originate from key financial hubs such as New York and London. With lighter participation during the summer, broader momentum remains limited.

From a longer-term view, sentiment remains constructive. Over the past month, there has been little evidence to suggest a shift in trend, which may encourage traders to keep watch for potential buying opportunities at perceived value zones.

Brambles (BXB)

Brambles continues to find solid support at lower levels, with the price action currently moving in a sideways range. The 50-day EMA is trending higher and now sits around the $23 mark.

That said, resistance near the $24 level remains a key barrier. Given this setup, it’s not surprising that the stock held relatively flat, closing the day with a modest gain of 0.17%. With earnings scheduled for 21 August, market participants may remain cautious as they assess expectations leading into the announcement.

Wesfarmers (WES)

Wesfarmers briefly tested the key $86 level, a price zone that has held significance several times over the past month. The stock closed the session with a 0.17% gain, contributing to a 1.70% rise over the past four weeks.

However, the recent price action suggests a loss of momentum. With earnings not due until 28 August, the market may continue to consolidate in the absence of a clear catalyst.

Suncorp Group (SUN)

Suncorp Group slipped by 0.39% during Monday’s session, extending a modest pullback in a stock that has otherwise shown strong long-term performance. Although the past month has seen a decline of 1.11%, the broader trend remains positive, with the stock up 19.65% overall.

With earnings scheduled for 13 August, the market appears to be in a holding pattern ahead of that announcement. The $20 level continues to attract interest from buyers, suggesting this could be a consolidation phase. Similar patterns of cautious trading can be seen globally, and after such strong gains, a period of relative calm seems reasonable.

Disclaimer: The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research we will not seek to take any advantage before providing it to our client. No representation or warranty is given as to the accuracy or completeness of this information and therefore it shouldn’t be relied upon as such. Any research provided does not have regard to specific financial situations, needs or investment objectives. Vantage accepts no responsibility for any use that may be made of these comments and for any consequences that result. Consequently, any person acting on it does so entirely at their own risk. We advise any readers of this material to seek professional advice where necessary. Without the approval of Vantage, reproduction or redistribution of this information isn’t permitted.