The S&P/ASX 200 was trading lower at midday Monday, down 39.9 points, or 0.43%, to 9,223.7 as of 2:30 p.m. AEST, as a sharp selloff across the major banks weighed on the broader index even as mining, healthcare, gold and technology stocks posted solid gains.

Monday’s dip follows a strong run for Australian equities, with the benchmark index closing at 9,263.60 on Friday and posting a second consecutive weekly gain of 3.2%, according to CNBC. The index had touched fresh record highs twice during the previous week before easing 0.1% on Friday as traders locked in profits, according to Trading Economics.

Westpac drags the big four banks lower

The steepest declines Monday came from the financial sector, led by a soft third-quarter earnings update from Westpac. According to Market Index, the bank’s results showed a stable net interest margin of 1.89%, with core margin up 1 basis point to 1.78%, while lending grew 2% across business, institutional and housing segments and deposits rose 2%. Despite those modestly positive underlying figures, Westpac’s stock fell sharply following the update, and the disappointment spread across the sector.

The broader pullback in bank shares pushed the big four collectively down between 1% and 4.6% during Friday’s session, according to Trading Economics, with weakness continuing into Monday’s trade. Insurers also weighed on the market late last week, with QBE, Insurance Australia Group and AUB Group all posting notable losses on Friday.

Miners, gold and healthcare provide a counterweight

Offsetting the bank-driven weakness, several major resources and healthcare names posted solid gains Monday. According to Market Index, gold and uranium stocks opened broadly higher, while BHP added 1.1%, Northern Star Resources gained 1.8% and Evolution Mining rose 1.5%, based on Trading Economics’ tracking of Friday’s session moves that carried into the current trading week.

CAR Group also rallied Monday following a broadly in-line full-year 2026 result and encouraging guidance for fiscal 2027, according to Market Index’s live coverage of the session.

A notable corporate takeover bid emerges

Beyond the broader index moves, Market Index reported a significant corporate development Monday: Canada’s Element Fleet Management has lodged an indicative bid for ANZ-based fleet manager FleetPartners. The proposal, submitted after market close on Aug. 7, offers $3.80 cash per share via a scheme of arrangement, valuing FleetPartners at approximately $820 million (US$578 million) in equity — a 34.3% premium to the company’s undisturbed closing price of $2.83 on July 31.

According to Market Index, Element indicated it would lift its offer to $4.00 a share if FleetPartners grants a three-week exclusivity period through a process deed by 5 p.m. AEST on Aug. 11, with no further increase flagged absent a superior competing proposal. The offer remains subject to due diligence, a formal scheme implementation agreement, and regulatory approvals from Australia’s Foreign Investment Review Board and the Australian Competition and Consumer Commission, and is conditional on no further dividends or capital returns beyond those already announced.

Treasury Wine Estates takes a major writedown

Separately, Market Index reported that Treasury Wine Estates disclosed an additional $558.4 million post-tax material item charge for fiscal 2026, reflecting a non-cash writedown of its U.S. assets along with further brand impairments, incremental to an earlier impairment already taken at the half-year mark. The charge arrived alongside better-than-expected full-year 2026 earnings and a reiterated outlook for fiscal 2027. Despite the positive earnings surprise, Treasury Wine shares remained down 27% year-to-date, though the stock has rebounded 61% from its March 26 low.

Property sector faces localized pressure

Arena REIT shares also came under pressure Monday after its tenant, Edge Early Learning, requested a deferral or abatement of rent in late July, according to Market Index’s coverage — a reminder that even amid broader index strength, individual sectors continue to face company-specific headwinds tied to tenant and operator financial pressures.

Global backdrop weighing on sentiment

Monday’s session unfolded against a backdrop of mixed signals from global markets. According to CNBC, Asia-Pacific markets traded broadly higher earlier in the session, with Japan’s Nikkei 225 adding more than 0.5%, the Kospi gaining 0.53% and Australia’s benchmark briefly trading as much as 0.54% higher before the afternoon bank-led pullback took hold.

Investor sentiment globally has also been shaped by uncertainty over the Strait of Hormuz standoff between the United States and Iran. According to CNBC, optimism that the two countries were nearing an agreement to allow free passage of vessels through the critical waterway dimmed over the weekend after Iran denied engaging in direct negotiations with Washington on reopening the strait. President Donald Trump told Axios on Sunday that the U.S. was “only semi-negotiating” with Iran and wanted the country to feel continued economic pressure, further complicating the outlook.

Ahead this week: a closely watched rate decision

Looking ahead, traders are bracing for the Reserve Bank of Australia’s policy decision later this week. According to Trading Economics, caution has already begun creeping into the market ahead of that announcement, with sticky underlying costs clouding the outlook even after three separate rate hikes so far this year. Fresh economic data out of China, Australia’s top trading partner, added to that unease Monday, with July inflation there easing to a six-month low and producer prices rising at their slowest pace in three months — signals of continued soft demand in one of Australia’s most important export markets.

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Awards will honour big names and future talent

The judges of the MPA Inspiration Awards have announced their 2026 shortlist – and say Manchester’s creative and digital sector has enjoyed another “outstanding” year.

The awards, now in their 14th year, aim to celebrate the best work done by Manchester’s media, digital and creative agencies and their teams. They also aim to support young and upcoming talent in the media, creative and digital worlds.

Nominees this year include EssenceMediacom, McCann Manchester, Wavemaker and Transport for Greater Manchester.

The awards are run by the MPA, the not-for-profit association originally known as the Manchester Publicity Association, and will be held at the Midland Hotel in Manchester in October.

The judging panel this year was chaired by Jade Prady, business growth lead for City Studios at City Football Group.

She said: “It’s been a privilege to be chair of judges this year and to see the outstanding work being produced across both agencies and new emerging talent coming through into the media landscape.

“We’ve had another fantastic year of entries, setting an exceptionally high standard, with inspiring and innovative work across all categories.

“The judging room was filled with energy and passion, and while some decisions were challenging, I’m confident and proud of the winners we’ve chosen collectively.”

Cindy Simmons, managing director of the MPA, added, “I was very proud to see that the community we represent has once again embraced our awards and has pushed the boundaries in terms of quality and content.

“In particular our ‘People’ categories, recognising young future talent, were extremely well supported again this year; This reflects how embracing and helping to nurture future talent is an intrinsic part of the MPA and fits with our mantra of helping anyone working in or with Manchester’s Media, Digital and Creative businesses to thrive.

“The ‘Collaboration’ category was also well represented which stands as testimony to the open and collaborative nature of the MPA and its members.”

MPA Inspiration Awards 2026: The shortlist

Best Digital Campaign

• Mobsta, Wavemaker and Triple Dry: Driving Sales of Deodorant? No Sweat
• Mobsta, Republic of Media, and TfGM: TfGM – Have You Got Your Ticket?
• EssenceMediacom, a WPP Media Brand: Recipe for Absolute Collagen’s AI Win
• McCann Manchester: Importance Of Flipping Industry Norms
• Crimtan, Fusion Unlimited & University of Leeds: UoL Applications: Powered by Data
• EssenceMediacom, a WPP Media Brand: Making 180 Stores Feel Truly Local
• Edison Media: Sandcastle Waterpark: A Record Year
• PHD Manchester & Grupo Bimbo (Takis): Can’t Hide Your Intensity
• Wavemaker, a WPP Media Brand: We’re Going Places
• Wavemaker, a WPP Media Brand: When the House Is Invisible, Change Odds
• Carat, Greggs, Blis: From Insight to Impact: Greggs Xmas Wins

Best Creative Campaign

• EssenceMediacom, a WPP Media Brand: From Fine Lines To Laughter Lines
• EssenceMediacom, a WPP Media Brand: Understanding Greatness Needs No Service
• Seventy7: Making Proper Good Things Happen
• Dentsu & News UK: Newsstands to Catwalks: Next A/W

Best Media Campaign

• Leasing Options & Reigning Media: From Sceptic to Sky Sports Sponsor
• The Guardian: From Play to Purpose with Co-op & Carat
• Notorious Communications: Butchers x Chanel 5’s Country Living
• Mail Metro Media, Carat, VisitScotland: Good for the Soul
• McCann Manchester: Importance Of Flipping Industry Norms
• Republic of Media: A ‘Powerfully Simple’ Venture into TV
• EssenceMediacom, a WPP Media Brand: From Media Interruptions to Healthcare
• EssenceMediacom, a WPP Media Brand: Turning Tyres Into a Performance Story
• EssenceMediacom, a WPP Media Brand: How an Unofficial Sponsor Beat 50:1
• EssenceMediacom, a WPP Media Brand: Tetley Chose Rituals Over Reach
• TBWA\MCR: Dodge The Finger
• Edison Media: We Run This City with JD Sports x Nike
• Wavemaker, a WPP Media brand: Out of Your Head and Into Your Home
• News UK: No Parental Guidance
• PHD Manchester & Grupo Bimbo (Takis): Can’t Hide Your Intensity
• Wavemaker, a WPP Media Brand: Nothing Beats Playing the Long Game
• Carat, Co-op Funeralcare: “From Behind to Front of Mind”

Best Sales Team Campaign

• Mobsta, Wavemaker, and Triple Dry: Driving Sales of Deodorant? No Sweat
• Channel 4 Sales & Wavemaker for Wayfair: Filtered Interiors
• Mail Metro Media, Carat, VisitScotland: Good for the Soul
• Immediate, Crown Paints & Notorious Communications: Colour your Senses

Best Integrated Campaign

• Channel 4 Sales & Carat for VisitScotland: Where to Next?
• McCann Manchester: Schär: Better Media for Better Health
• EssenceMediacom, a WPP Media Brand: From Media Interruptions to Healthcare
• Wavemaker, a WPP Media brand: Clarkson’s Farm, Sponsored by Morrisons
• Wavemaker, a WPP Media brand: Dr Oetker’s Book Club Hit the Aisle
• Edison Media: We Run This City with JD Sports x Nike
• Wavemaker, a WPP Media brand: Reigniting Passion for Teaching
• Mail Metro Media, Havas, Matalan: Your Tribe
• News UK & Specsavers: Grab a Grant – Specsavers x The Sun
• Wavemaker, a WPP Media Brand: Original Source x HYROX
• Carat, Nerds, Global: ‘Make it a NERDS Summer’
• WPP Media: Search It & Weep

Best PR/Social Campaign

• Smoking Gun: Fry & Mighty
• Channel 4 Sales, Vega & Propaganda for Cloud 9: GRWM: Roots & Resilience
• EssenceMediacom, a WPP Media Brand: From Fine Lines to Laughter Lines
• Wavemaker, a WPP Media brand: From Hardship to Hope
• Mail Metro Media, Havas, Matalan: Your Tribe

Specialist Categories

Best Animation

• Flow Creative: Releasing Hope
• TBWA\MCR: Dodge The Finger

Best Video

• TBWA\MCR: That Time Of The Month
• Edison Media: This Is Blackpool: The Two Day Stay

Best Podcast

• Roland Dransfield: We Built This City
• JCDecaux UK: Digital Changemakers

Best Audio

• TBWA\MCR: Gardaland 50th Anniversary
• EssenceMediacom, a WPP Media Brand: Making Results Day Sound Different
• Wavemaker, a WPP Media brand: From Missed Flights to Must-Book Nights

Unique Categories

Big Bang Award

• Reigning Media x Bruntwood: Turning David into Goliath
• Nano Interactive x Republic of Media for ScotRail: The Scenic Route to CTR
• Hoopla Digital & Dentsu: Galderma Acnecide
• TBWA\MCR: That Time Of The Month
• TBWA\MCR: Dodge The Finger

Collaboration Award

• Whistl, HH Global, Co-op: Co-operative Christmas Growth
• Peachy and Screen Manchester: Peachy and Screen Manchester Outreach
• Immediate Media North and Wavemaker North: Dr Oetker Ristorante Book Club
• Wavemaker, a WPP Media brand: Making Wayfair Feel Like Home
• Cash for Kids: Bringing Back the Magic of Christmas
• Wavemaker, a WPP Media Brand: TRU x Reach – On Track to Better

Martyn Hett Inspiring Manchester Award

• Ocean Outdoor: The Corinthians: We Were The Champions
• Roland Dransfield: We Built This City

Innovation Award

• PHD Manchester: Establish MCR as a Gaming Powerhouse
• WPP Media: OMA PagePal Beats Google’s Crackdown

People categories

Apprentice Award

• Olivia Darbyshire: One Agency Media
• Aarti Schwob: Wavemaker, a WPP Media brand
• Mia Cunningham: Republic of Media

Rising Star Award

• Joshua Dagger: Bauer Media Outdoor
• Grace Noakes: One Agency Media
• Luis Rogers: Republic of Media

University Student Award

• Amy Louise Mead: Manchester Metropolitan University
• Nikola Gonczar: Manchester Metropolitan University
• Shannon Fahey: Manchester Metropolitan University
• Queenie Quayson: Manchester Metropolitan University

Freelance Hero Award

• Jude Hodges
• Oliver Hardingham
• Roxanne Parker
• Natalie Meziani

Agency of the Year

• I-COM
• Wavemaker, a WPP Media brand
• Edison Media
• Republic of Media
• Roland Dransfield

Media Sales Team of the Year

• Mobsta
• Transport for Greater Manchester
• JCDecaux UK
• News UK
• Channel 4

Grand Prix Categories

Best Place to Work

• JCDecaux UK
• Bauer Media Outdoor

Best of the Best

• To be announced on the night

Business of the Year

• To be announced on the night

MPA Award

• To be announced on the night

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
Get in touch
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