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The ASX200 hit a fresh record high and closed up around 0.3% at 8,115 points, as the 2024 Wall Street rally continues to buoy Australian sentiment.
Almost all sectors were up, led by Real Estate up 1.7%, followed closely by Information Technology 1.6% and Energy 1.2%. Industrials and Financials were slightly down on a record breaking day.
In the Green
Buy now pay later company Zip Co (ASX:ZIP) closed up 5.24% on the back of strong quarterlies on Tuesday. This extends gains to more than 215% for the year to date, compared to the ASX200 being up 7% during the same period.
Zip Co closed at $2.01.
Perth based Strike Energy (ASX:STX) closed up 2.5%, as the company announced a plan to secure gas engines for its proposed project in Western Australia.
Clarke Energy has been awarded the contract to build 20 gas generators to operate during peak periods.
Strike Energy closed at 20.5 cents.
Meanwhile, Capstone Copper (ASX:CSC) closed up 4.93% after the company updated its feasibility study for its iron, copper, and gold project in Chile. The market reacted favourably to the updated $1.7 billion valuation on the project.
Capstone Copper closed up at $10.65.
In the Red
Former darling Droneshield (ASX:DRO) closed down 14.75% and was the biggest loser today, after raising $120 million in a raise that followed sustained selloffs.
Droneshield closed at $1.18.
Monadelphous (ASX:MND) closed down 4.93% as investors reacted to its client, Albemarle, terminating all Kemerton contracts. The downsizing of lithium operations cost 300 Australian jobs. Despite this development, Citi has maintained a buy rating on the stock.
Monadelphous closed at $12.33.
Avita Medical (ASX:AVH) closed down 2.98% after announcing its development of a next generation gauze which is made of a skin like material. Investors were unenthusiastic and reacted by selling off the stock.
Avita Medical closed at $2.93.
