ASX 200 Gains as Collins Foods and Pilbara Minerals Lift Sentiment

June 24, 2025 12:45 AM PDT | By Team Kalkine Media

ASX 200 Gains as Collins Foods and Pilbara Minerals Lift Sentiment — Image source: shutterstock

Top Performers Dominate with Notable Price Action

Among the standout performers on the index was Collins Foods Ltd (ASX:CKF), which led the session with sharp upward momentum. Appen Ltd (ASX:APX) followed closely behind with a strong finish. Pilbara Minerals Ltd (ASX:PLS) also ended higher, further extending its momentum in the lithium and battery materials segment.

These companies contributed significantly to sectoral strength, especially in the broader materials category. Their performance was underpinned by increased investor attention toward the food services, tech services, and critical minerals landscape.

Energy Segment Mixed Despite Early Momentum

Santos Ltd (ASX:STO) remained in focus after the previous session’s takeover-related activity, continuing to influence sentiment within the energy sector. However, other energy names including Woodside Energy Ltd (ASX:WDS), Ampol Ltd (ASX:ALD), and Beach Energy Ltd (ASX:BPT) experienced intraday retracements despite earlier gains.

The movement reflected market reactions to international commodity price shifts, particularly in oil benchmarks, which saw broad-based declines during the day’s commodities session.

ASX Ltd Slumps Amid Regulatory Scrutiny

ASX Ltd (ASX:ASX) extended recent losses following ongoing scrutiny from the Australian Securities and Investments Commission. The regulator’s announcement of a structural review into the bourse operator’s operations and governance weighed heavily on the stock. Market observers remained attentive to future developments as the review progresses.

The pressure on ASX Ltd impacted the broader financial sector and contributed to some of the day’s hesitations despite an overall positive close.

Gold Stocks and Construction Names Fall Behind

St Barbara Ltd (ASX:SBM), Evolution Mining Ltd (ASX:EVN), and Northern Star Resources Ltd (ASX:NST) were among the day’s notable laggards within the gold and mining category. Weakness in precious metals prices, coupled with revised sentiment, led to broader softness in these names.

Fletcher Building Ltd (ASX:FBU) also closed lower, extending its recent trend. These declines tempered some of the enthusiasm seen elsewhere in the index, particularly among top-performing materials and industrials.

Volatility Contracts While Broader Market Holds Ground

Market volatility as measured by the S&P/ASX 200 VIX decreased, indicating a relatively more stable risk environment compared to recent trading sessions. Commodity-linked movements continued to influence sector performance, with energy and metals prices remaining in focus.

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