The ASX200 closed up 0.33% at 8,429 points.
This was a seven-week closing high, achieved amidst positive sentiment as investors react to Donald Trump’s “Stargate” plan for AI investment, and an initially better than expected trade outcome.
IT finished the strongest performing sector, up 2.35%, followed by Industrials, up 1.2%, and Utilities, up more than 1%.
Materials was the worst performer, down 1%, followed by Telecommunications, down 0.3% and Health Care, down 0.2%.
In the Green
Aruma Resources (ASX:AAJ) closed up 11.1% on results from a gravity survey conducted at its Fiery Creek Project in Queensland.
Aruma Resources closed at 1 cent.
Orthocell (ASX:OCC) closed up 15.7% after expansion plans were revealed in the lead up to U.S. FDA approval for its drug. Applications in the new markets of Canada, Thailand, the United Kingdom, the European Union, and Brazil are progressing.
Orthocell closed at $1.50.
Etherstack (ASX:ESK) closed up 12.7% after signing a $1.9 million contract with AT&T Services to provide wireless network equipment and services. The deal consolidates the company’s position in the telecommunications sector.
Etherstack closed at 31 cents.
In the Red
Woodside (ASX:WDS) closed down 1.9% after posting a 6% decline in quarterly revenue. The company has paused work on a large-scale hydrogen development and a solar project in the US. This comes just a day after Trump’s inauguration as it pivots to the expansion of a gas plant in Louisiana boosted by the President’s move to lift a freeze on LNG exports.
Woodside closed at $25.25.
Sigma Healthcare (ASX:SIG) closed down 5.04% as some Aussie investors take profits after chalking up some strong gains.
Sigma Healthcare closed at $2.64.
Iluka Resources (ASX:ILU) closed down 7% after releasing its quarterlies. The company reported achieving lower-than-expected output costs and also substantially missed production guidance.
Iluka Resources closed at $4.95.