AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- ASX gains slightly, led by energy and mining sectors on China stimulus hopes.
- Banking sector mixed as rate-sensitive stocks face pressure.
- Sigma Healthcare and Neuren post significant gains following positive developments.
Australian stocks saw a modest upward shift, with the S&P/ASX 200 index rising slightly by four points to close at 8,199.9. This followed a period of market fluctuation as anticipation grew around President-elect Donald Trump’s policy implications, especially regarding tariffs and economic growth. The recent U.S. elections generated a rally in Wall Street, marking one of the strongest post-election days in history for American indices.
The Australian energy sector saw gains, leading the way with five of the eleven ASX sectors moving into positive territory. Mining stocks were buoyant on the possibility of China unveiling a fiscal stimulus package, anticipated to support demand for commodities. In the mining sector, BHP (ASX:BHP) saw a 1 percent increase, while Rio Tinto (ASX:RIO) climbed 2 percent, and Fortescue Metals Group (ASX:FMG) advanced by 2.8 percent, reflecting renewed optimism on the back of these stimulus hopes.
In contrast, rate-sensitive stocks like those in the real estate sector were under pressure due to inflationary concerns tied to Trump’s policies, which may prompt higher interest rates. Notable real estate players, including Scentre Group (ASX:SCG), Goodman Group (ASX:GMG), and Stockland (ASX:SGP), saw losses exceeding 2 percent. Banks also showed mixed performance, with National Australia Bank (ASX:NAB) trimming early losses to 0.3 percent after a near 3 percent dip following an 8 percent decline in cash profit for FY24, totaling $7.1 billion. Meanwhile, Westpac (ASX:WBC) fell by 2.3 percent, trading ex-dividend.
Gold stocks, traditionally seen as a safe haven, took a hit after gold prices tumbled by 5 percent overnight. Among gold miners, Gold Resources (ASX:GOR) and Bellevue Gold (ASX:BGL) declined over 6 percent, reflecting the sector's sensitivity to shifts in global risk sentiment.
In other notable movements, Sigma Healthcare (ASX:SIG) surged 23 percent after the Australian Competition and Consumer Commission approved its merger with Chemist Warehouse, bolstering optimism in the healthcare sector. Steadfast Group (ASX:SDF) saw a 1.5 percent rise following its acquisition of insurance broker HW Wood and HWI France for £23.5 million. Health insurer NIB Holdings (ASX:NHF) rose 1.4 percent, supported by the strongest start for its Australian Residents Health Insurance unit in over a decade.
Despite reporting a 234 percent increase in cash earnings for the first quarter of FY25, Zip Co (ASX:ZIP) dropped 1.9 percent, reflecting cautious market sentiment. Meanwhile, Neuren Pharmaceuticals (ASX:NEU) rallied 6.5 percent on its projected income for FY24, estimated between $216 million and $218 million. Aerospace manufacturer Quickstep Holdings (ASX:QHL) nearly doubled to 38 cents after receiving a 40-cent takeover offer from Asdam Operations, one of its key clients.
