ASX200 Edges Higher as BHP and Goodman Boost Market Confidence

3 min read | May 12, 2025 01:01 PM AEST | By Team Kalkine Media

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ASX200 Edges Higher as BHP and Goodman Boost Market Confidence — Image source: shutterstock

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Highlights

ASX200 sees modest gains amid global optimism

Energy and mining stocks climb on stronger commodity prices

Goodman Group and BHP lead early momentum

The Australian share market opened the week on a positive note, with the S&P/ASX 200 Index inching up 0.3% to 8257 by midday Monday. The broader All Ordinaries Index also mirrored this gain, supported by a rally in energy and mining sectors.

Global sentiment played a pivotal role in the early session's gains. A bounce in US futures, particularly the Nasdaq 100 and S&P 500, set an encouraging tone for markets across the Asia-Pacific. This optimism was tied to constructive dialogue between the US and China over the weekend. US Trade Representative Jamieson Greer and Chinese officials signaled narrowing differences, spurring hope for eased tariffs and stronger global trade flows.

Locally, the spotlight was on resource-heavy companies. Mining giant BHP (ASX:BHP) surged 2%, driven by news of a significant copper find in Argentina. Higher copper prices also contributed to the enthusiasm surrounding the stock. Energy names followed suit — Santos (ASX:STO) climbed 3.1% while Woodside Energy (ASX:WDS) rose 2.2%, buoyed by firming oil prices.

Meanwhile, property group Goodman Group (ASX:GMG) jumped 2.4%. Analysts have expressed increased confidence in the company’s data centre pipeline, adding to investor interest. Another strong mover was South32 (ASX:S32), up 2.5% despite news that its CEO Graham Kerr will step down next year after a decade-long tenure.

In the retail sector, Woolworths (ASX:WOW) slipped 0.8% after announcing a 10% average price cut on select items, a move seen as a strategy to regain market traction against rivals.

Healthcare lagged, with Neuren Pharmaceuticals (ASX:NEU) and Clarity Pharmaceuticals (ASX:CU6) among the weakest early performers, dropping 5.2% and 5.6% respectively. The retreat followed recent gains and appeared tied to mild profit-taking.

In corporate updates, Dyno Nobel, formerly Incitec Pivot (ASX:IPL), confirmed the sale of its fertiliser distribution unit to Ridley Corporation (ASX:RIC), lifting its shares 1.8%. Ridley shares were placed in a trading halt.

Betting platform PointsBet (ASX:PBH) granted rival Betr exclusive due diligence rights, a key development in a prolonged acquisition effort. Betr’s shares moved up 1.6% while PointsBet was steady.

For income-focused investors, these movements may prompt a closer look at leading ASX dividend stocks. Check out this list of opportunities here: ASX dividend stocks.

As the market digests news on global trade and commodity dynamics, the ASX200 continues to reflect investor sentiment shaped by both international cues and domestic catalysts.

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