Join our daily newsletter At The Bell to receive exclusive market insights
Good afternoon and welcome to the ASX Today. The Australian share market traded higher at lunchtime, with the ASX 200 adding around 0.6 per cent after briefly hitting a fresh intraday record of 9213 earlier in the session.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Investor sentiment was boosted by another interim peace deal between the US and Iran, raising hopes the Strait of Hormuz could soon fully reopen. Strong US earnings also supported markets overnight, with the S&P 500 and Dow Jones both closing at record highs.
Technology and mining stocks led the gains locally. WiseTech Global climbed 4.3 per cent and Life360 gained 5.1 per cent, following a strong rally in US semiconductor stocks as optimism around artificial intelligence returned.
Mining heavyweights also advanced, with BHP up 2.6 per cent after awarding a $200 million contract to engineering group Monadelphous. Materials were among the market’s strongest sectors.
Energy stocks moved lower as oil prices continued to retreat. Brent crude eased to around US$76 a barrel, weighing on Woodside and Santos by 2.9 and 1.9 per cent respectively as concerns over Middle East supply disruptions continued to fade.
The major banks also came under pressure, with Commonwealth Bank falling 2.1 per cent, while ANZ, NAB and Westpac also traded lower, making financials one of the weakest sectors.
Looking at some of the companies making news today, Endeavour Group fell after flagging $311 million in significant items that weighed on full-year profit.
Light & Wonder jumped 3.9 per cent after reporting better than expected quarterly earnings.
Neuren Pharmaceuticals surged 15 per cent, while IperionX rebounded more than 12 per cent after recent weakness.
Pinnacle Investment Management also rallied more than 8 per cent after releasing its latest financial results.
Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
