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Highlights:
Australian sharemarket finished higher, supported by broader strength across Asian equities and US futures
Technology sector led the gains, advancing the most among all sectors
Neuren Pharmaceuticals and DroneShield were among the top performing companies on the index
The Australian sharemarket ended the day stronger, lifted by widespread gains across regional markets and a positive tone in global equity futures. A temporary easing of import tariffs on electronics by the US government appeared to contribute to improved sentiment across the Asia-Pacific region.
The benchmark S&P/ASX 200 index recorded gains across most sectors, with all but one sector finishing in positive territory. Market activity was broadly upbeat, tracking closely with trends seen in overseas markets.
Sector Highlights
The technology sector was the strongest performer on the day. This upswing coincided with the announcement from the US administration, which temporarily delayed certain electronic trade restrictions. The move was perceived to be favourable for the global technology supply chain, with Australian tech shares responding positively.
Other major sectors, including financials, healthcare, and consumer discretionary, also contributed to the broader advance. The rise in the local currency against the US dollar was noted, with the Australian dollar strengthening during the session.
Key Company Developments
Neuren Pharmaceuticals saw significant share price appreciation after releasing an update on its development pipeline. The company stated that a recent interaction with the US Food and Drug Administration had been productive, with plans to move forward on a new clinical trial. This news was well received in the market, placing Neuren among the strongest gainers for the session.
DroneShield also posted strong gains following the announcement of new contract awards. The company disclosed that it had secured multiple repeat contracts with a military partner in the Asia-Pacific region. These contracts were said to be part of a growing demand for defence and surveillance technologies, particularly in regional security collaborations.
Changes in Company Ratings
Macquarie Group experienced a marginal decline during the session. This followed a revised rating by a financial institution, which expressed caution around the group’s earnings trajectory due to delays in global capital market recovery.
In contrast, Newmont Corporation recorded a noticeable uptick. The increase came after an international firm updated its gold price expectations, leading to a revised assessment of the company's valuation. A similar adjustment was made for Regis Resources, which also saw a revised stance in line with movements in the gold sector.
Currency Movement
The Australian dollar continued to strengthen against its US counterpart. Currency traders responded to broader market movements and global policy developments, with the local currency last trading higher during the session.
Overall Market Context
The upward movement in the ASX mirrored strength in regional markets and a positive backdrop for equities internationally. Sectors tied to technology and healthcare saw the greatest benefit, supported by macro-level developments and corporate updates. Activity on the local bourse remained aligned with external drivers, especially those linked to global trade and commodity pricing.
