AUS
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UK
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Highlights
- ASX200 rises to new 3-month high
- Tech sector gains ahead of Nvidia results
- Web Travel surges after upbeat outlook
The Australian sharemarket extended its strong performance on Wednesday, with the ASX200 index pushing to a three-month high in early trade. Positive momentum from Wall Street, underpinned by stronger-than-expected US consumer confidence and easing concerns over US-EU trade tensions, helped support the local market.
The S&P/ASX 200 Index climbed 0.4%, or 32.3 points, to 8439.90 in the first 20 minutes of trading, marking the highest intraday level since mid-February. Gains were broad-based, with eight out of eleven sectors trading higher. The tech sector led the way, supported by upcoming earnings from US tech giant Nvidia and solid performances from local names.
In the tech space, NextDC (ASX:NXT) and WiseTech Global (ASX:WTC) posted strong advances, up 2.2% and 1.7% respectively. Block Inc. (ASX:SQ2) saw the largest move in the sector, lifting 5.1% in early trade.
Banking stocks also contributed to the index’s strength. Commonwealth Bank of Australia (ASX:CBA) edged 0.4% higher, while Macquarie Group (ASX:MQG) rose 1.5%, reflecting continued investor confidence in Australia’s financial sector.
Meanwhile, market participants were keeping an eye on April’s consumer price index data, with expectations for a slight easing in annual inflation from 2.4% to 2.3%. This data is seen as a key indicator for interest rate outlooks, which often influence interest-sensitive assets including ASX dividend stocks.
In corporate updates, Goodman Group (ASX:GMG) inched up 0.5% after reaffirming its full-year guidance. Despite some uncertainty from global clients delaying key decisions, the outlook remained intact.
Fisher & Paykel Healthcare (ASX:FPH) declined 3.2%, even after reporting a strong 43% rise in net profit to NZ$377.2 million, citing market concerns around future revenue sustainability.
Retailer Myer (ASX:MYR) advanced 2.4% following the relaunch of its loyalty program “Myer One” and introduction of in-store beauty services aimed at enhancing customer experience.
Infratil (ASX:IFT) saw a notable decline of 7.1% after reporting a shift to losses, primarily due to a drop in asset valuation gains. Mineral Resources (ASX:MIN) slid 9.2% following another downward revision in its iron ore production guidance for the year, this time by up to 10%.
The standout performer of the day was Webjet Limited (ASX:WEB), which surged 14.3%. The travel company reassured investors of its recovery momentum, reporting a 22% year-on-year increase in total transaction values and stating it is now “recalibrated and back on track.”
With global cues remaining positive and domestic data showing signs of stability, investor confidence in the ASX200 remains resilient heading into the next quarter.
