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Highlights
- ASX 200 posts sixth consecutive gain
- Tech sector surges with major players advancing
- Real estate, retail and resources add to the momentum
The Australian sharemarket continued its upward momentum on Wednesday, notching its sixth straight session of gains. The S&P/ASX 200 rose by 0.24%, or 19.4 points, to close at 8,145.6, as strength in technology and real estate sectors provided a solid foundation for broader market optimism. Seven of the 11 industry sectors ended in the green.
Technology was the star performer of the day, recording a strong 4% surge. Major players in the space led the charge: WiseTech Global (ASX:WTC) climbed 6.6%, NextDC (ASX:NXT) advanced 4.6%, and Xero (ASX:XRO) gained 3.2%. The rally came amid renewed investor interest in high-growth sectors as confidence returned to global equity markets.
The real estate sector also contributed to the gains, supported by a stable rate outlook and easing bond yields. Meanwhile, supermarket giant Woolworths (ASX:WOW) reported a 3.2% lift in third-quarter sales to $17.3 billion, driven in part by robust performance in its eCommerce division, which saw double-digit growth.
In the financials space, Judo Capital (ASX:JDO) was the biggest laggard, falling 16.9% after lowering its full-year gross loans and advances guidance. The company cited “significant volatility” in its operating environment as the primary reason for the revision.
The industrials and materials sectors saw some mixed moves. Worley (ASX:WOR) slipped 1.8% despite announcing a two-year contract extension with Woodside Energy (ASX:WDS) for brownfield engineering and procurement services. Meanwhile, Resolute Mining (ASX:RSG) edged 2% lower following its acquisition of two mining projects in Côte d’Ivoire from AngloGold Ashanti for $234 million.
Healius (ASX:HLS) finished 4.1% higher after completing the sale of its Lumus Imaging business to Affinity Equity Partners. In the asset management arena, Platinum Asset Management (ASX:PTM) soared 11.4% amid merger talks following a 9.6% stake acquisition by fund manager L1 Capital.
Packaging company Amcor (ASX:AMC) dropped 3.8% despite closing its $13 billion acquisition of Berry Global earlier than expected. The company narrowed its full-year earnings guidance after a disappointing third-quarter result.
Elsewhere, ASX Ltd (ASX:ASX) rose 1.1% after completing a capability review of its CHESS system, addressing regulatory concerns. Sims (ASX:SGM) edged up 0.6% after announcing it would discontinue its work on plasma-assisted gasification technology for processing automotive shredder residue.
For investors seeking reliable income streams, sectors such as utilities and property may offer opportunities within the ASX dividend stocks universe, especially amid stable market conditions and strengthening economic signals.
