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Highlights
- ASX200 inches near three-month high
- Web Travel (ASX:WEB) jumps 15.2% on strong booking update
- Tech stocks lead gains across sectors
The S&P/ASX200 edged higher on Tuesday, approaching a three-month high as investor sentiment improved on the back of positive consumer confidence data from the US and constructive trade discussions between Europe and the United States. By midday, the ASX 200 Index was up 0.2%, or 16.4 points, at 8424 points, reaching its highest intraday level since mid-February.
Technology stocks powered much of the local market's performance, mirroring strong gains on Wall Street where the S&P 500 and Nasdaq climbed over 2%. The US rally came after a sharp uptick in consumer optimism and signs that trade negotiations with the EU were gaining momentum.
The local tech sector was buoyed by notable advances including TechnologyOne (ASX:TNE) rising 2.4%, WiseTech Global (ASX:WTC) up 1.3%, and Block (ASX:SQ2) gaining 5.2%. Enthusiasm for tech stocks grew ahead of Nvidia’s earnings report, expected later in the week.
Financial stocks also provided modest support, with Commonwealth Bank (ASX:CBA) up 0.2% and Macquarie Group (ASX:MQG) climbing 1.1%. These movements reflect ongoing interest in ASX dividend stocks as investors eye income-generating opportunities amid inflation stability.
Among major movers, Web Travel Group (ASX:WEB) soared 15.2% after announcing a sharp rise in bookings and total transaction value. The company stated it had “recalibrated and [was] back on track,” which resonated strongly with investors.
In the consumer space, Myer (ASX:MYR) added 1.4% following updates including a revamp of its Myer One loyalty program and the launch of new beauty services such as blow-dry bars and nail salons—aimed at boosting in-store foot traffic.
On the downside, Goodman Group (ASX:GMG) slipped 0.7%, citing delayed tenant decisions amid global uncertainty. Fisher & Paykel Healthcare (ASX:FPH) declined 5% despite a robust 43% jump in net profit to NZ$377.2 million, indicating investors may have expected stronger guidance.
Infratil (ASX:IFT) fell 5.6% after posting a loss driven by reduced asset revaluations. Meanwhile, Mineral Resources (ASX:MIN) dropped 6.5% following another cut to its full-year iron ore production forecast, with output now expected to be trimmed by up to 10%.
With eight out of 11 sectors in the green and tech leading the charge, the local market is showing resilience—though some caution persists due to global uncertainties. The S&P/ASX200 remains a key benchmark to watch as sentiment continues to shift.
