ASX Market Update: Index lead higher by Discretionary stocks | September 26, 2024

The ASX200 has been up 0.6% at 8,173 points in early afternoon trade.

The Aussie market has climbed this morning, countering Wall Street’s overnight slide, will all US indices falling except the Nasdaq which closed flat.

Back home, all sectors are in the green and Utilities and Telecommunication have been the strongest performers – both up 1.3%, followed by Discretionary, up 1.1%

Company News

Washington H Soul Pattinson & Company Ltd (ASX:SOL) has been down 0.35% after reporting a 27.8% fall in FY24 group net profit – to $499 million. This was largely caused by ‘lower contributions’ from the Brickworks and New Hope businesses during this period. Despite the result, the company lifted its total dividend by 9.2% to 95 cents per share.

Washington H Soul Pattinson & Company has been $34.10.

Step One Clothing (ASX:STP) has been down 8.5% after Founder and CEO Greg Taylor, sold more than 16.5 million shares – equivalent to around 9% of the company. The sale was executed as part of a block trade at a price of $1.70 per share. Mr Taylor remains the largest shareholder in the firm with a 57.9% holding.

Step One has been traded at $1.72.

Caprice Resources (ASX:CRS) has been up more than 11.5% after confirming it’s inked a land access agreement with native title holders over its recently acquired 2,000sq.km project. The company says the agreement establishes clear communication lines and responsibilities between Caprice and the native title holders.

Caprice Resources has been 2.6 cents in early afternoon trade.