AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
_01_14_2025_00_33_54_680287.jpg)
Highlights
- ASX rebounds, led by energy and mining sectors.
- City Chic (CCX) surges nearly 20% on holiday sales.
- Telix Pharmaceuticals (TLX) posts significant revenue growth.
The Australian share market started strong, rebounding from a two-week low as investor optimism returned. The S&P/ASX 200 climbed 0.6%, or 47.4 points, to 8239.3, supported by positive trading in the U.S. The All Ordinaries Index followed with a 0.6% rise to 8479.2. Gains were broad across sectors, with technology being the sole underperformer.
Energy and mining companies led the rally, driven by a rise in commodity prices. Brent crude oil advanced 1.6% to $US81.01 per barrel, fueling gains in energy stocks. Ampol (ASX:ALD) rose 1.1%, while Yancoal (ASX:YAL) saw a 1.6% increase.
The mining sector followed suit, supported by a rise in iron ore prices, which reached $US98.90 per tonne overnight. Major players like BHP Group (ASX:BHP), Fortescue Metals (ASX:FMG), and Rio Tinto (ASX:RIO) advanced 0.9%, 2%, and 1.2%, respectively. Meanwhile, James Hardie Industries (ASX:JHX) gained 2.6%, contributing to the overall sector strength.
Retailer Momentum
City Chic Collective (ASX:CCX) emerged as a standout performer, skyrocketing 19.8% after reporting robust holiday trading despite a 3.6% dip in revenue during the second half of 2024. This aligns with a broader trend seen across retailers like Myer (ASX:MYR) and Premier Investments (ASX:PMV), which reported relatively flat earnings over the same period.
Energy Transition and Healthcare Highlights
Energy Transition Minerals (ASX:ETM) climbed 4.7%, continuing its upward momentum. The company announced plans for its management team to visit Greenland as part of its ongoing efforts to strengthen relations over a disputed rare earth mining project.
Telix Pharmaceuticals (ASX:TLX) added to the healthcare sector’s gains, jumping 4.3%. The radiopharmaceutical company posted a 46% increase in quarterly revenue, showcasing growth in its market reach.
Broader Market Insights
Monday’s market dip was attributed to recalibrated expectations for U.S. rate cuts, leading to a subdued start to the week. However, a modest recovery in the U.S. equity market overnight set a positive tone for Australian equities, with the S&P 500 rising 0.2%.
Market experts highlighted that the January dip in the Australian market is a recurring trend, often paving the way for a sustained rally through April. Key sectors such as energy and mining remain well-positioned for growth, buoyed by rising commodity prices and strong international demand.
With 10 out of 11 sectors in positive territory, the rebound underscores investor confidence, even amid global economic uncertainties. The robust performance across multiple industries signals a resilient market landscape for the early part of the year.
