ASX200 Edges Higher on Trade Hopes and Earnings Boost

2 min read | May 08, 2025 05:20 AM BST | By Team Kalkine Media

Highlights

  • ASX200 gains as Trump teases new trade deal
  • Bitcoin edges closer to US$100K amid risk-on sentiment
  • Orica and Pro Medicus surge on strong corporate updates

The Australian share market saw modest gains today, buoyed by positive signals from global trade developments and a wave of upbeat corporate earnings. The S&P/ASX 200 Index rose by 0.4%, climbing 30.3 points to reach 8208.6 by mid-afternoon. The broader All Ordinaries also advanced 0.4%.

Investor sentiment improved after US President Donald Trump hinted at a possible trade agreement announcement later this week—widely anticipated to involve the UK. Meanwhile, the US Treasury’s trade discussions with China added to the optimism. This backdrop encouraged a risk-on environment across markets, reflected in Bitcoin’s rally of 2.6%, lifting it close to the US$100,000 mark.

Defensive sectors led gains on the ASX200, with utilities and consumer staples showing strength. Notable movements included a 2.2% rise in AGL Energy (ASX:AGL) and a 2% uptick in supermarket chain Coles Group (ASX:COL). Industrials were also lifted by Computershare (ASX:CPU), which rose over 4%.

Banking shares were mixed. ANZ Group (ASX:ANZ) slid 2% following its earnings update, which revealed a flat profit and a net interest margin below expectations. Westpac (ASX:WBC) dropped 1.8%, and Commonwealth Bank (ASX:CBA) dipped 0.5%. In contrast, National Australia Bank (ASX:NAB) bucked the trend with a 1.6% rise.

Gold miners tracked the recovery in bullion prices, with Evolution Mining (ASX:EVN) climbing 3% and Newmont Corporation (ASX:NEM) gaining 2%.

Among corporate updates, Orica (ASX:ORI) stood out, jumping 8.4% after posting a 40% rise in net profit (excluding significant items) to $250.8 million and increasing its dividend—drawing interest from those eyeing ASX dividend stocks.

Pro Medicus (ASX:PME) advanced 4.1% after securing a US$20 million, five-year contract via its US subsidiary, Visage Imaging. Infrastructure group Transurban (ASX:TCL) rose 1.6% following news of a workforce restructure involving approximately 300 roles.

Meanwhile, Light & Wonder (ASX:LNW) declined 6.3% amid concerns about rising costs tied to evolving US trade policy, despite maintaining its full-year earnings guidance.

Mexican food chain Guzman y Gomez (ASX:GYG) recouped early losses to finish 3.5% higher. At an investor event, its leadership shared confidence in exceeding full-year profit forecasts and announced further US expansion efforts.

This mixed session highlights investor attention on global trade cues, economic outlook from the US Federal Reserve, and evolving company fundamentals—all playing into movements across the ASX200 landscape.


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