AUS
NZ
UK
CA
USA
IND
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Highlights
- ASX extends gains on strong Wall Street cues
- Lithium and graphite shares gain traction on global signals
- BHP production update supports mining sentiment
The Australian share market looks set to build on its record-setting momentum, with the ASX 200 continuing its winning streak. Strong cues from Wall Street, driven by solid corporate earnings and resilient consumer data, have contributed to this positive tone. As investors eye opportunities in the materials space, the spotlight has turned toward lithium and graphite names. These sectors are drawing fresh attention after global developments, especially in the US and China, hint at potential supply shifts. The broader index's movement also reflects the performance of the ASX All Ordinaries, commonly referred to as the Allords.
Thursday's session saw all major sectors close in positive territory, with tech, financials, and materials leading the charge. A notable uptick in small-cap stocks was also observed, particularly those with ties to the energy and mining sectors. Lithium-related companies showed notable momentum late in the day, triggered by reports of supply constraints in China.
Among the key announcements, (ASX:RML) confirmed the formal appointment of its new US head, a move expected to accelerate operations at its critical minerals project in Idaho. Meanwhile, (ASX:LU7) completed a strategic acquisition, strengthening its position in the green energy transition space by securing exclusive rights to a promising recycling technology developed by Macquarie University.
Elsewhere, (ASX:HFR) extended its agreement with a key Chinese partner, pushing ahead with discussions for a substantial investment opportunity. (ASX:DYM) shared upbeat drilling updates and revealed that preparations are underway for an expanded campaign. On the international front, (ASX:AS2) highlighted new high-grade copper findings in Ethiopia, pointing to further exploration efforts to define its resource base.
Commodity markets were mixed overnight. While gold and copper faced mild headwinds, oil prices inched higher amid geopolitical uncertainty. Lithium carbonate prices in China continued their upward trend, driven by regulatory crackdowns on unauthorized mining activity. This development bodes well for Australian producers seeking stable pricing conditions.
In corporate news, (ASX:BHP) delivered a quarterly production report that reassured markets. Iron ore and copper output remained strong and aligned with previous guidance, helping to steady sentiment around China’s resource demand outlook.
Looking ahead, market participants will keep an eye on international inflation prints and consumer sentiment data. Domestically, graphite-focused stocks could remain in focus after the US unveiled steep anti-dumping duties on Chinese graphite imports, potentially shifting demand towards alternative suppliers in Australia.
