AUS
NZ
UK
CA
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IND
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Highlights
- Healthcare and banking stocks lift Australian market
- Collins Foods tumbles on Taco Bell exit
- Accent Group surges on new international partnership
The Australian sharemarket extended its upward momentum for a second straight session, buoyed by gains in healthcare and financial sectors, as calm signals from the White House on trade policies lifted global investor sentiment.
By early afternoon, the benchmark S&P/ASX 200 had climbed 0.4%, or 30.1 points, reaching 7778.7, following a strong start to the week. The broader All Ordinaries index also saw a 0.3% lift. Healthcare emerged as the top-performing sector, with six out of eleven sectors finishing in the green.
Investors reacted positively to developments out of the United States, where the S&P 500 closed 2.2% higher. Gains were driven by a temporary pause on tariffs for certain electronics, which helped major tech companies recover. The 10-year Treasury yield remained stable at 4.35%, signaling reduced uncertainty in bond markets.
In Australia, defensively positioned stocks saw strong demand. Shares of CSL (ASX:CSL) rose 2%, while ResMed (ASX:RMD) gained 1%, with analysts pointing to their resilience amid potential global trade headwinds. Meanwhile, the banking sector provided additional support to the market. Commonwealth Bank (ASX:CBA) rose 1.2%, Macquarie Group (ASX:MQG) advanced 1%, and Westpac (ASX:WBC) gained 1.1%.
Offsetting some of the market’s strength were losses in the technology and mining sectors. WiseTech Global (ASX:WTC) dropped 2.5%, and TechnologyOne (ASX:TNE) declined 1.5%. Bellevue Gold (ASX:BGL) recorded the steepest fall, plummeting 22.1% after announcing a $156.5 million share placement to institutional investors.
In company-specific news, Collins Foods (ASX:CKF) fell sharply by 6.2% following its decision to withdraw Taco Bell operations from the Australian market. The announcement came as part of a broader strategic realignment by the fast-food operator, which is looking to consolidate its business focus.
On the positive side, Accent Group (ASX:AX1) jumped 4.5% after revealing plans to launch the UK-based Sports Direct brand across Australia and New Zealand. The initiative is part of a new partnership with UK retail giant Frasers Group, aimed at capturing a broader share of the athletic and leisurewear market.
Perpetual (ASX:PPT) also declined, falling 2.2% after reporting a significant increase in net outflows during the third quarter, totaling $8.9 billion, amid weaker global fund performance and higher cash allocations.
As global trade uncertainties ease, investors appeared to favor stability and resilient business models, boosting demand for select Australian stocks in the healthcare and banking sectors.
