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The ASX200 hit an all time intra-day high of 8,515 points, and closed at 8,493 points.
NAB has fallen into line with the other big banks and is now predicting the Reserve Bank of Australia will cut rates next month. NAB chief economist Alan Oster says February is the most likely starting point for a gradual easing of rates.
Energy was the best performing sector, up 1.2%, followed by Discretionary, up 1.1%, and Staples, up 1%.
In the Green
Barton Gold Holdings Ltd (ASX:BGD) closed up 3.7% after proving the existence of silver in the Tolmer mineralised system at its Tarcoola gold project in South Australia.
Barton Gold closed at 27.5 cents.
Almonty Industries (ASX:AII) closed up 10.6% on news of an offtake agreement with South Korean steel giant and SpaceX contractor, SeAH Group.
Almonty Industries finished at $1.35.
Beam Communications (ASX:BCC) closed up 6.6% after posting its quarterlies. The company’s growth was driven by lower operating expenses and increased recurring revenues.
Beam Communications wrapped up at 6.4 cents.
In the Red
Sigma Healthcare (ASX: SIG) closed down 3.6% after the company released the results of last night’s shareholder vote on the proposed merger with Chemist Warehouse. The merger received 99.86% approval from shareholders.
Sigma Healthcare closed at $2.92.
Pure Hydrogen (ASX:PH2) closed down another 3% after yesterday’s news it will spin off its natural gas assets and create a new ASX-listed entity, Eastern Gas.
Pure Hydrogen closed at 9.5 cents.
IGO (ASX:IGO) closed down 1.75% after reporting an earnings loss of $80M for Q2 FY25. The second quarter underlying loss is attributed to lower sales and the loss from its TLEA joint venture with China’s Tianqui.
IGO finished the session at $5.06.
