ASX Market Close: Qantas hits fresh record high as bourse rises | October 29, 2024

The ASX200 closed up a third of a percent 0.34% at 8,249 points.

The countdown to the U.S. Federal election continues, and the haven asset of gold has hit record territory again. Meanwhile, brent crude oil has stabilised around US$71 per barrel, after a 6% plunge in yesterday’s session.

To the sectors, Discretionary and IT were the day’s best performers, both up 0.75%, followed by Materials, up 0.6%.

Energy and Utilities were the worst performers, up two thirds of a percent 0.67% and point four of a percent 0.4% respectively.

In the Green

National carrier Qantas (ASX:QAN) has hit a fresh record high of $8.17 in intra-day trade amidst a media frenzy around seat upgrades it gave to Anthony Albanese.

The flying kangaroo closed up 0.12% at $8.13.

Firefly Metals (ASX:FFM) closed up 8.06% after an update on its Green Bay copper-gold project in Newfoundland, Canada. The company says recent exploration activities have led to a 42% increase in the mineral resource estimate at Green Bay.

Firefly finished the session at $1.14.

Zip Co (ASX:ZIP) closed up 11.83% following the release of its first quarter update. Zip reported group cash EBTDA of $31.7 million. This represents an increase of 233.7% over the prior corresponding period. The company says its U.S. business continued to deliver outstanding growth.

Zip closed at $3.12.

In the Red

Black Cat Syndicate (ASX:BC8) closed down 11.81% following an institutional placement this morning. Firm commitments have been received for around $80 million via a two-tranche placement at a sizeable discount of 52 cents per new share.

Black Cat Syndicate closed at 56 cents.

Coronado Global Resources (ASX:CRN) closed down 6.64% on release of the coal miner’s quarterly update. The company reported a 15% quarter on quarter decline in production to 6.3 million tonnes.

Coronado Global Resources closed at 98.5 cents.

Cettire (ASX:CTT) finished down 17.29% on release of its Q1 update. Disappointed investors dumped the stock after the company booked a 77% decline in quarter-over-quarter profit.  

Cettire closed at $1.77.