ASX Sets New High as Avita Medical Surges 11% Amid Broad Market Gains

February 14, 2025 03:01 PM AEDT | By Team Kalkine Media

ASX Sets New High as Avita Medical Surges 11% Amid Broad Market Gains

Tariff Concerns and Gold's Surge

US President Trump’s announcement of new reciprocal tariffs raised speculation about potential effects on Australian exports, particularly in light of the country’s Goods and Services Tax (GST). However, investors largely brushed off these concerns, fueling gains across the board.

Gold prices soared to a new record, hitting $US2932.05 per ounce, as demand for safe-haven assets spiked. This momentum benefited gold explorers like Westgold Resources (ASX:WGX), which gained 2.8%, as its half-year revenue nearly doubled despite higher costs.

Stock Market Movers: Tech and Healthcare in Focus

Technology stocks led the rally, with companies like Treasury Wine Estates (ASX:TWE) rising 3.3% and Coles (ASX:COL) advancing 1.5%.

In contrast, healthcare and financial stocks saw some of the biggest losses. Cochlear (ASX:COH) plunged 13.5% after the company lowered its full-year profit forecast. Similarly, AMP (ASX:AMP) dropped 15.7% as its half-year profit slumped to $150 million, nearly half of its previous level.

Avita Medical Surges on Strong Revenue Growth

Among the biggest gainers, Avita Medical (ASX:AVH) soared 11.6% after reporting a 29% growth in commercial revenues and issuing a 2025 revenue forecast between $158.16 million and $167.65 million.

Other notable moves included Mirvac (ASX:MGR), which jumped 5.5%, despite reporting a 6% drop in profit to $236 million for the first half of the fiscal year. Meanwhile, WAM Capital (ASX:WAM) gained 2.5% as its half-year profit surged 45% to $148.9 million, fueled by higher revenues.

Unibail-Rodamco-Westfield Slips Despite Higher Payouts

On the downside, Unibail-Rodamco-Westfield (ASX:URW) declined 4.3%, even after increasing its distribution payout by 40% and reporting earnings per share of €9.85 ($16.30), exceeding full-year guidance.

With strong momentum across multiple sectors, the ASX remains resilient, edging toward another record-breaking close.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.