Good afternoon and welcome to the ASX Today, marking the start of week 35. The ASX is pushing higher, with miners leading the charge as gold climbs to a more than three-month high.
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The ASX 200 is up 0.5 per cent, with seven of the 11 sectors in positive territory. Gold has climbed above US$4,600 an ounce, helped by a weaker US dollar and expectations around the Federal Reserve’s next moves.
BHP is up 3.4 per cent today, making headline news: the stock hit a record high of $67.72 a share, totalling this year’s gains to 48 per cent. Materials are driving gains on the local index, underpinned by demand for copper and uranium.
Rio Tinto has gained 1.3 per cent, while PLS has jumped 7.2 per cent after reinstating dividends following a three-year break, its strong earnings showing heightened demand for lithium.
Uranium stocks are also running hot, with Deep Yellow, Boss Energy and Paladin among the stronger performers.
In healthcare, Ansell has surged more than 9 per cent to a five-year high after its earnings outlook came in ahead of expectations.
Petrol giant Ampol is also up 4.2 per cent after first-half profit almost quintupled, with the fuel company benefiting from higher oil prices during the Iran conflict.
Santos has gained 2.2 per cent after agreeing to buy a stake in the Greater Meridian gas project in Queensland, while Woodside is also higher.
But it hasn’t been all green. Aussie Broadband has plunged 10 per cent following its results, while NIB has dropped 9.3 per cent after reporting lower full-year profit.
Reece Group is down 3.1 per cent after warning of softer US demand, and Endeavour Group has fallen 3.8 per cent as uncertainty around consumer spending weighs on the outlook.
Nuix is one of the standout movers, soaring 26 per cent after swinging to a $16.4 million net profit.
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