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Highlights:
ASX 200 nears record highs driven by miners and energy
Iron ore and coal stocks show robust gains
Healthcare and uranium stocks face notable pressure
The S&P ASX 200 pushed closer to record levels, supported by strong gains across the mining and energy sectors. The index finished the session with a solid advance, approaching the all-time high set last week, highlighting growing market confidence amid improving commodity sentiment and broader global optimism.
Iron Ore and Coal Stocks Lead the Charge
The materials sector continued its strong momentum, underpinned by a notable rally in iron ore prices. Leading miners such as Fortescue Metals (ASX:FMG), Rio Tinto (ASX:RIO), and BHP Group (ASX:BHP) posted gains as Singapore iron ore futures surged to their highest in several months. The upward trend in commodity prices helped lift sentiment, reflecting expectations of resilient demand from key Asian markets.
Coal also emerged as a bright spot, with Whitehaven Coal (ASX:WHC) registering one of the strongest performances among large-cap stocks. The momentum was fuelled by reports of regulatory moves in China aimed at curbing overproduction in the coking coal segment, which supported pricing dynamics in the sector.
Energy Sector Powers Ahead
Energy stocks were another key driver behind the market’s advance. Woodside Energy (ASX:WDS) stood out following its quarterly update that revealed improved production figures and a positive revision in cost guidance. The news lifted investor confidence in the company’s operational stability despite recent softness in oil prices.
The S&P/ASX 200 Energy Index also reached its highest level since late 2024, marking a significant technical breakout. The strong performance from energy names contributed to broad-based gains and highlighted a growing rotation into resources.
Financials and Industrials Rebound
The financials sector showed strength, with major banking names like ANZ Group (ASX:ANZ) and Westpac (ASX:WBC) bouncing back after recent losses. Commonwealth Bank (ASX:CBA) remained more subdued as it continued to consolidate following a previous correction.
Industrials also moved higher, supported by infrastructure and construction names. Notably, James Hardie Industries (ASX:JHX) recorded solid momentum, aided by tailwinds in global building material demand.
Mixed Picture in Healthcare and Uranium
Telix Pharmaceuticals (ASX:TLX) experienced heavy downside, closing at multi-month lows. The company disclosed that it had received a subpoena related to its prostate cancer therapy program, leading to heightened uncertainty around its regulatory outlook.
Meanwhile, Paladin Energy (ASX:PDN) came under pressure after its updated guidance for the Langer Heinrich Mine fell short of expectations. The production and sales projections led to a reassessment of future growth potential, weighing on sentiment.
Broader Market Dynamics and Outlook
Graphite-focused Syrah Resources (ASX:SYR) and gold miners such as Alkane Resources (ASX:ALK) and Ramelius Resources (ASX:RMS) posted encouraging gains, highlighting growing interest in diversified commodity plays. Insurance Australia Group (ASX:IAG) also climbed following renewed confidence in its earnings outlook.
