The ASX is tilting lower near midday as modest losses from Australia’s major banks offset gains from oil and coal producers. The S&P/ASX 200 is 0.1 per cent, or 7 points, lower at 7743.7 near midday. The index is being weighed by National Australia Bank, down 0.8 per cent, and Commonwealth Bank, down 0.5 per cent. Those losses are offsetting gains from energy stocks, which are up 1.
Overnight in New York, shares rose led by the megacap tech. Apple rallied near 3 per cent on reports it is preparing for a surge in iPhone 16 orders. Tesla leapt more than 6 per cent. Microsoft and Amazon each rose at least 2 per cent. Meanwhile, French stocks rebounded more than 1 per cent after right-wing parties won a lower-than-expected percentage of votes in Sunday’s first round of parliamentary voting in France. Stocks in focus Bendigo and Adelaide Bank slipped 1.6 per cent to $11.