AUS
NZ
UK
CA
USA
IND
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Highlights:
ASX rises as energy sector rallies amid higher crude prices
Gold stocks advance alongside a surge in bullion price
Challenger tops ASX chart after profit guidance update
The Australian sharemarket recorded broad gains, with the energy sector emerging as the strongest performer. The benchmark S&P/ASX 200 Index rose notably, supported by higher oil prices. Ten out of eleven sectors closed in the positive. Major energy names recorded strong advances as crude oil prices lifted sentiment. Woodside recorded a marked increase in share value. Karoon posted strong performance gains, while Ampol moved up significantly. Santos recorded growth after reporting an increase in production volumes measured in barrels of oil equivalent.
Gold producers climb as bullion sets new record
Gold producers on the ASX also showed upward movement, mirroring the rally in global bullion prices. The precious metal reached a new record level, exceeding its previous peak set earlier in the week. Bellevue Gold edged higher. Evolution Mining advanced, and Northern Star Resources also finished stronger. The movement came amid renewed haven demand for gold, contributing to broader sectoral strength.
Employment data impacts rate expectations
Official figures released showed growth in national employment for March, rebounding from the prior month’s decline. The unemployment rate remained steady. Following the data release, money markets reduced expectations of a sharp reduction in the official cash rate in May, adjusting to the stronger labour market indicators.
US market weakness follows central bank comments
Major indices in the United States recorded declines during the overnight session. The drop followed remarks from the Federal Reserve chair regarding the impact of trade tensions on inflation and a cautious stance on interest rate reductions. Key US indices experienced notable losses, reflecting concerns around economic policy direction.
Challenger surges on earnings guidance update
Wealth management group Challenger saw a significant rise in share price after releasing an update on its expected net profit for the next financial year. The revised forecast narrowed the earnings range and reflected an increase on the lower end. This development made Challenger the strongest performer on the ASX 200 during the session.
AMP records inflow growth despite asset decline
AMP shares (ASX:AMP) also advanced after the company disclosed net inflows in its platforms segment for the latest quarter. Although overall assets under management for the platforms business declined slightly due to market volatility, the rise in net inflows contributed to positive momentum in its stock performance.
BHP shares advance despite lower shipment figures
BHP shares (ASX:BHP) moved higher despite reporting a fall in iron ore shipments from its Australian operations. The latest quarterly figures came in below expectations but were still an improvement over prior years marked by fewer weather disruptions. The market responded positively, with shares ending the session stronger.
Insignia Financial extends suitor due diligence
Insignia Financial recorded an increase in share value after the company agreed to extend the due diligence process for two private equity firms. The extension allows additional time for evaluation by the interested parties, as discussions continue regarding a potential transaction.
Pilbara rebounds despite production issues
Pilbara Minerals closed higher after recovering from earlier declines. The company attributed reduced output and revenue to extreme weather events and the temporary closure of one of its processing facilities. Despite these challenges, its share price rose by the close of trade.
