A new report from VanEck has highlighted the impressive resilience of the Australian market in recent years. 

It has weathered the pandemic, inflation and the fastest interest-rate tightening cycle in decades without falling into recession.

However VanEck believes this resilience should not be mistaken for strength. 

While inflation has eased from its peak, underlying price pressures remain among the highest in the developed world, business hiring intentions are softening and consumer confidence remains subdued. Together, they point to an economy that is slowing rather than stalling.

This combination of factors reinforces that investors’ portfolios should not be overexposed to the big banks and miners that dominate the ASX 200. 

VanEck contends that there are several reasons investors should look beyond simply tracking the S&P/ASX 200 Index (ASX: XJO). 

Trailing global equities

VanEck argues that simply buying the index is not always the most effective way to build wealth. 

The past financial year has brought this case to the fore more than ever.

Since the start of 2010, the S&P/ASX 200 has trailed the MSCI World, which tracks developed markets globally, in 11 of the past 17 financial years.

But the bigger concern is that the underperformance is getting worse. FY26 saw the underperformance run extend to four consecutive years, and the second biggest performance gap since 1996.

If Australia’s economy is entering a period of more subdued growth, investors should not be surprised if earnings growth becomes harder to find domestically. That strengthens the case for looking beyond a standard S&P/ASX 200 index fund.

The case for mid-caps 

According to the report, one option for investors looking to avoid overconcentration is to target mid-caps. 

One way to do this is through the VanEck S&P/ASX MidCap ETF (ASX: MVE). 

The fund focuses on Australia’s mid-cap companies, a part of the market that has historically offered an attractive balance between earnings growth and business maturity.

VanEck believes this could be a “sweet spot” of the market. 

They are typically more established than emerging small companies but still have meaningful scope to grow earnings. Analysts expect company profits in this part of the market to grow much faster than Australia’s largest companies, while valuations are still around their long-term averages.

MVE provides exposure to this often-overlooked part of the market through the S&P/ASX MidCap 50 Index. For investors looking to complement a large-cap Australian allocation, it offers access to businesses with greater growth potential, without moving too far down the risk spectrum.

The post The growing case for ASX mid-caps: Expert appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Bell has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The S&P/ASX 200 Index (ASX: XJO) had a very interesting day indeed this Tuesday. For most of the session, it looked as though the market was destined for a red day. However, investors pick up the buying in late afternoon trading.

The ASX 200 didn’t record a gain for the day, though. It didn’t record a loss either. Instead, it ended the day exactly where it started. Yep, the index was completely flat this Tuesday, moving precisely 0.00% and finishing at the 8,808.5 points it was sitting at 24 hours ago. A rare occurrence indeed.

This fascinating result for the local markets followed a decisively negative night to kick off the American trading week on Wall Street, though.

The Dow Jones Industrial Average Index (DJX: .DJI) wasn’t in a good mood, dropping 0.26%.

The tech-heavy Nasdaq Composite Index (NASDAQ: .IXIC) fared even worse, falling 1.55%

But let’s return to ASX shares now, though and take stock of how the different ASX sectors navigated this Tuesday’s tepid trading conditions.

Winners and losers

As you may expect, we had a fairly even break between winners and losers this session.

Leading the latter were real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) was hit hard today, tumbling 1.64%.

Consumer staples shares didn’t hold their value either, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) tanking 0.81%.

Financial stocks also had a rough time. The S&P/ASX 200 Financials Index (ASX: XFJ) retreated 0.54%.

Industrial shares were on the nose too, illustrated by the S&P/ASX 200 Industrials Index (ASX: XNJ)’s 0.47% slide.

That’s it for the res sectors though, so let’s get to the winners. Leading said winners were energy stocks. The S&P/ASX 200 Energy Index (ASX: XEJ) rocketed 1.98% this Tuesday.

Utilities shares were in demand as well, with the S&P/ASX 200 Utilities Index (ASX: XUJ) soaring 1.37%.

Mining stocks ran hot too. The S&P/ASX 200 Materials Index (ASX: XMJ) surged 0.67% by the closing bell.

Healthcare shares were right behind that, as you can see by the S&P/ASX 200 Healthcare Index (ASX: XHJ)’s 0.66% jump.

Gold stocks were als in that ballpark. The All Ordinaries Gold Index (ASX: XGD) leapt 0.62% higher this session.

Consumer discretionary shares came next, with the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) advancing 0.39%.

Communications stocks got out ahead as well. The S&P/ASX 200 Communication Services Index (ASX: XTJ) lifted 0.21% today.

Finally, tech shares were lucky to come out intact, evident by the S&P/ASX 200 Information Technology Index (ASX: XIJ)’ was hit hard, plunging 2.48%.’s 0.07% bump.

Top 10 ASX 200 shares countdown

Gaming technology company Light & Wonder Inc (ASX: LNW) took out this Tuesday’s top spot. Light & Wonder shares vaulted 7.98% higher today to finish at $111.60 each. We dove into this jump earlier today.

Here’s how the other winners pulled up at the kerb: 

ASX-listed company	Share price	Price change
Light & Wonder Inc (ASX: LNW)	$111.60	7.98%
Domino’s Pizza Enterprises Ltd (ASX: DMP)	$16.75	4.95%
Seek Ltd (ASX: SEK)	$13.92	4.98%
IperionX Ltd (ASX: IPX)	$3.71	4.51%
WiseTech Global Ltd (ASX: WTC)	$34.75	4.29%
Karoon Energy Ltd (ASX: KAR)	$1.50	3.81%
Treasury Wine Estates Ltd (ASX: TWE)	$4.70	3.75%
Evolution Mining Ltd (ASX: EVN)	$11.78	3.15%
Aurizon Holdings Ltd (ASX: AZJ)	$4.24	2.91%
Yancoal Australia Ltd (ASX: YAL)	$5.56	2.77%

Our top 10 shares countdown is a recurring end-of-day summary that shows which companies made big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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• Here’s what $10,000 invested in ASX tech shares 5 years ago would be worth now
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, Light & Wonder Inc, Treasury Wine Estates, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates and WiseTech Global. The Motley Fool Australia has recommended Domino’s Pizza Enterprises and Light & Wonder Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

PLS Group Ltd (ASX: PLS) shares were under pressure again on Tuesday afternoon, falling 1% to $4.43.

That extends what has been a painful month for shareholders, with the ASX lithium stock down 28% over the past four weeks.

But don’t let that fool you. Zoom out and the picture looks far brighter. PLS shares remain up around 6% year to date and have rocketed roughly 190% over the past 12 months.

The reason? Lithium prices went on an absolute tear. Spodumene prices almost tripled over the 12 months to June 2026, propelling ASX lithium producers to some of the market’s biggest gains.

Then June arrived. Spodumene prices slipped around 12% during the month, and investors hit the sell button just as enthusiastically as they had bought weeks earlier.

So, after the sharp correction, should investors be buying the dip, sitting tight, or heading for the exits?

Lithium giveth, lithium taketh away

PLS has long been regarded as the ASX’s highest-beta lithium stock.

When lithium prices surge, PLS shares often leave rivals in the dust thanks to the company’s enormous production base, operating leverage, and world-class Pilgangoora mine.

When lithium prices head south, however, the reverse usually happens. Investors tend to reduce exposure to the sector’s biggest name first, making PLS one of the hardest-hit stocks during corrections.

That appears to be exactly what’s unfolding today. Chinese lithium carbonate futures have continued retreating after a spectacular rally earlier this year. Much of the recent weakness appears to reflect profit-taking, with traders questioning whether prices simply ran ahead of market fundamentals.

Since lithium prices remain the biggest driver of earnings expectations, weaker futures have inevitably weighed on PLS shares.

The business is still firing

Importantly, there’s little evidence the company’s operations are weakening.

PLS delivered an outstanding first-half FY26 result. Revenue jumped 47% to $624 million as higher lithium prices combined with stronger sales volumes. Underlying EBITDA exploded 241% to $253 million, while EBITDA margins expanded from 17% to an impressive 41%.

That’s exactly what investors want to see. The numbers highlight the enormous operating leverage within the business. As lithium prices rise, profits can grow at an even faster pace.

Meanwhile, Pilgangoora remains one of the world’s largest and lowest-cost hard-rock lithium operations, giving PLS shares a competitive advantage that many smaller producers simply can’t match.

The next key milestone will arrive on 31 August when the company reports its second-half FY26 results. Investors will be watching production, costs, shipments, and any commentary around lithium demand. Updates on the P2000 expansion project will also be closely monitored.

Buy, hold, or sell?

Broker sentiment has become more cautious following the recent rally. According to TradingView data, eight of the 19 analysts covering PLS rate the stock as a buy, six recommend hold, and five have a sell rating.

The average price target sits at $5.77, implying roughly 30% upside from current levels.

Opinions vary widely, though. The most bullish analyst believes PLS shares could climb to $7.30, representing upside of around 65%, while the most bearish sees the stock falling to $3.00, or about 32% below current levels.

UBS recently downgraded PLS from buy to neutral, arguing that much of the easy money from the lithium recovery has already been made.

Meanwhile, Catapult Wealth and Red Leaf Securities remain bearish, citing concerns that growing global lithium supply could place renewed pressure on prices.

The post PLS shares are down 28%. Are they a buy, hold, or sell? appeared first on The Motley Fool Australia.

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• Experts name 3 big-name ASX 200 shares to sell
• Buy, hold, sell: TechnologyOne, Pro Medicus, PLS Group shares
• 5 ASX All Ords shares that ripped 200% to 400% in FY26
• Top 5 ASX 200 lithium shares of FY26

Motley Fool contributor Marc Van Dinther has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.