Energy Sector Drives ASX Higher as Ainsworth Surges

April 29, 2025 02:14 PM AEST | By Team Kalkine Media

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Energy Sector Drives ASX Higher as Ainsworth Surges — Image source: shutterstock

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Highlights:

Energy stocks led the ASX200 higher, while Materials lagged.

Ainsworth Game Technology shares climbed following an acquisition announcement.

Orthocell and Lynas Rare Earths posted gains on positive business updates.

The Australian share market closed stronger, supported by gains in the Energy sector. At the final bell, the ASX200 rose by a fraction to settle just shy of a major milestone. Strength across Technology and Consumer Discretionary sectors also contributed to the day's performance, while the Materials sector was the only group to finish lower.

Energy Sector Leads Market Gains

Energy stocks topped the sector performance chart, rising notably as oil prices found stability. Information Technology followed closely, boosted by positive sentiment in the tech industry, and Consumer Discretionary stocks also posted meaningful advances. Conversely, the Materials sector struggled, finishing the session with a modest decline.

Ainsworth Game Technology Soars on Acquisition News

Ainsworth Game Technology shares finished sharply higher after news broke of a definitive acquisition deal with Austria-based Novomatic. Under the agreement terms, Ainsworth shareholders are set to receive a cash payment for each share. This represented a significant premium compared to the stock’s previous closing value. By the end of trading, Ainsworth shares closed marginally below the offer price.

Orthocell Advances Following Regulatory Approval

Orthocell recorded strong gains after receiving regulatory clearance from Thailand's Food and Drug Administration for its flagship nerve repair product. This approval opens the pathway for the company to commence commercial distribution within the Thai market. Following the announcement, Orthocell shares saw an uplift, reflecting market confidence in the broader commercial rollout.

Lynas Rare Earths Strengthens After Quarterly Update

Lynas Rare Earths closed higher following the release of its quarterly results. The company reported an increase in both sales revenue and receipts compared to the previous year’s corresponding quarter. The results indicated a steady performance from Lynas, driven by ongoing demand for its rare earth materials. The company's share price responded positively to the financial update, closing the session higher.

Brambles Declines Amid Weather and Market Challenges

Brambles shares faced downward pressure after reporting a rise in sales revenue for the first nine months of the financial year. Despite the sales growth driven by pricing and volume gains, broader market conditions, including adverse weather events in the United States, weighed on overall sentiment toward the stock. Brambles ended the session lower.

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