AUS
NZ
UK
CA
USA
IND
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Highlights
- ASX sees modest gains led by energy and consumer staples
- Tech and select consumer stocks see pressure
- Bellevue Gold plunges after capital raise announcement
The Australian sharemarket opened higher on Tuesday, continuing its positive momentum from the previous session. The S&P/ASX 200 index climbed 0.2%, or 13.3 points, to 7761.9, as investor sentiment improved following easing concerns around US trade tariffs. The broader All Ordinaries index also edged 0.2% higher.
The gains followed a relatively steady session on Wall Street, where optimism returned after US President Donald Trump hinted at a possible delay in tariffs on automotive imports. This follows a prior announcement of temporary tariff exclusions on electronics, which offered a breather to global markets and boosted US stocks.
In the US, the S&P 500 rose by as much as 1.8% during early trade, with technology companies rallying. Apple led gains with a 2.2% rise after the news of the tariff pause provided some relief for tech-related supply chains.
Despite this optimism, analysts suggest that uncertainty still lingers. Giulia Bellicoso from Capital Economics noted that while temporary exemptions are helpful, the broader outlook remains clouded. According to her, elevated valuations in both US equities and the US dollar could limit upside potential in the absence of clear policy direction.
Back home, the ASX saw broad-based sectoral support, with eight of the 11 industry groups in positive territory. Energy stocks led the charge, followed closely by consumer staples. Defensive plays saw renewed interest, with (ASX:COL) adding 1% and (ASX:A2M) rising 1.8%. Healthcare heavyweight (ASX:CSL) also provided upward momentum, climbing 1%.
However, the tech sector underperformed. (ASX:WTC) dropped 2.2%, while (ASX:TNE) shed 1.6%, reflecting global caution around high-growth stocks.
Mining stocks continued their rally, buoyed by strength in iron ore prices. (ASX:BHP) moved up 1.1%. On the other hand, (ASX:BGL) recorded the steepest decline on the day, falling 22% after confirming a $156.5 million capital raise via a new share placement.
In other corporate movements, (ASX:CKF) fell 2.5% after revealing plans to exit the Taco Bell brand in Australia. (ASX:PPT) declined 1.8% as it reported net outflows of $8.9 billion in the third quarter.
Retail group (ASX:AX1) rose 2.5% on news it would introduce UK’s Sports Direct brand in Australia and New Zealand through a new partnership with Frasers Group.
In the energy space, (ASX:AMPD) gained 2.9% after confirming that scheduled maintenance at two major gas facilities was progressing as planned, despite a 9% dip in quarterly production.
Meanwhile, (ASX:ORA) slipped 1.4% and (ASX:BAP) eased 0.3%, following news that a key executive from Orora will join Bapcor later this month as part of a larger business restructure.
