Geo-tensions Spark Energy Rally. MP1 (+5.6%), LOV (+2.5%), and WDS (+1.5%) Gain Ground as Materials Sector Falls

Paper Mandate Market & Portfolio Commentary | 9 July 2026

Fund Status:

• Bal Start: $1,142,535

• Bought NWL

• Sold: MP1

• Bal End: $1,147,628

• Cash: $152,246

Overnight Markets

The US market was mixed overnight, the S&P 500 was down -0.28% while the Nasdaq managed a +0.20% bounce. Market sentiment soured after Trump declared the US-Iran ceasefire was “over”. WTI crude jumped +6.25% to US$74bbl as a result. Market breadth declined, indicated by the S&P 500 Equal Weight dropping -1.18%. Meanwhile the US 10-year Treasury yield increased to 4.6%. The tech sector bucked the trend with some gains from Broadcom (+4.8%) and Nvidia (+3.6%).

Australian Market

The ASX 200 fell -0.26% due to selling in Materials (-1.48%), and Gold (-1.2%). Energy (+1.67%) led the market with New Hope up +5.5%, alongside gains for Woodside (+1.5%) and Santos (+2.0%). Tech (+0.92%) was somewhat muted compared to the movements in the US.

Portfolio Commentary

The portfolio value increased +0.45% compared to the fall in the benchmark (ASX 300) fall of -0.20%. The driver of today’s performance was Megaport which rallied +5.56%. This bucked the sentiment of the broader market. We used the opportunity to take profit at the $20 price, trimming the position by 2.0%. We then deployed the proceeds into NWL, adding 1.0%.

In terms of other performers for the day: Lovisa rose +2.47% (where we recently increased our weight). Symal rose +1.89%. Woodside climbed +1.49% on the back of the escalating global oil prices, while COL grew +1.11%, the consumer staple to cushion the portfolio. The gains absorbed the selling pressure from Materials, including a -3.64% pull back in PC2 and a -2.05% fall in GDG.

Investment Activity

Disclaimer: This is a paper portfolio. Content is for educational purposes only and does not constitute financial advice. Always do your own research.