AUS
NZ
UK
CA
USA
IND
Highlights
- Australian shares saw a lift, supported by gains in utilities and major banks.
- APA Group spearheaded the utilities sector rally with robust earnings guidance.
- Commonwealth Bank and other major banks recorded steady gains.
Australian shares ended higher on Friday, driven by a strong performance in the utilities and banking sectors. The benchmark S&P/ASX 200 Index rose 0.7%, closing at 8285.1, marking an uplift of 61.2 points. Ten out of the eleven sectors finished in the green, despite the index recording a marginal weekly decline of 0.1%. The broader All Ordinaries Index also gained 0.7%.
The utilities sector shone, with APA Group (ASX:APA) leading the charge. The company posted a 2.5% gain, closing at $6.98. APA Group reaffirmed its financial year 2025 guidance, projecting normalised EBITDA to exceed the prior year's performance. Revenue for the first quarter rose to $256.4 million, up from $237.6 million in the preceding quarter. Other notable performers included Origin Energy (ASX:ORG), which climbed 2.4% to $10.39, and AGL Energy (ASX:AGL), gaining 2.3% to close at $10.70.
The financial sector also displayed robust momentum, with all major banks registering gains. Commonwealth Bank (ASX:CBA) advanced 1.5%, closing at $155.13, while Westpac (ASX:WBC) rose 1.9% to $33.06. ANZ (ASX:ANZ) increased 2.6% to $32.45, and National Australia Bank (ASX:NAB) firmed 1.3% to close at $39.22.
In the property sector, Lendlease (ASX:LLC) emerged as a standout performer, rising 2.7% to $6.82. The surge followed comments from CEO Tony Lombardo, who confirmed plans for a $500 million share buyback, contingent on asset sales.
Meanwhile, Perpetual (ASX:PPT) and Corporate Travel Management (ASX:CTD) saw gains of 2.3% and 1% respectively, as both stocks were highlighted during the Sohn Hearts & Minds Investor Conference in Adelaide.
ASX Ltd (ASX:ASX) recorded a modest increase of 0.7%, closing at $66.22. The company issued a statement refuting allegations by the Australian Securities and Investments Commission (ASIC) regarding its CHESS replacement project disclosures made in early 2022. The company clarified that its earlier statements were neither misleading nor deceptive.
Friday's performance reflected optimism across various sectors, with a focus on utilities, financials, and property driving gains across the Australian market.
