Trending On Livewire: Weekend Edition - Saturday 21st June

The ASX 200 suffered only its second losing week in the last 10 this week, but it was a modest 0.5 percent retreat – nothing to worry about with the index hovering near all-time highs.

Don’t let the small move at the index level fool you, however, as plenty was going on beneath the surface. Santos received a $8.89 per share takeover bid from ADNOC subsidiary XRG, a 28% premium to the pre-announcement trading price. Shares ended the week at $7.70, representing the market’s reservations about the deal, which were outlined by my colleague here.

Aside from the bid for Santos, the rest of the energy names also caught a bid amid escalating hostilities in the Middle East, which raised concerns about potential disruptions to oil supply.

Uranium stocks also got a shot in the arm after Sprott announced plans to purchase $200 million in physical uranium for its trust. Deep Yellow, Boss Energy and Paladin all ended the week 10-30% higher.

It wasn’t all good news for commodities names, with the big three iron ore miners down around 5% each due to a host of factors - falling steel demand, excess supply, heavy stockpiles, and gloomy outlooks.

With the end of the financial year nearing, next week we’ll be featuring content that wraps up the year that was, looks ahead to FY26, and shares some key tips on how to avoid common tax mistakes.

Have a great weekend.

Chris Conway, Managing Editor, Livewire Markets

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