Virgin and Greatland Energise ASX 200 as Woodside Retreats

June 24, 2025 04:11 PM AEST | By Team Kalkine Media

Virgin and Greatland Energise ASX 200 as Woodside Retreats — Image source: Shutterstock

Virgin and Greatland Spark Early Enthusiasm

Virgin Australia Holdings and Greatland Gold Ltd (ASX:GGP) were standout names following their public listing activity and market engagement. Their strong performance added momentum to broader enthusiasm for IPOs and reinforced confidence around listing resilience during a period of global macro adjustments.

The interest extended to market sectors linked to aviation and mining, buoyed by optimism around future travel trends and Australia’s critical minerals strategy.

Woodside Energy Dips Amid Crude Volatility

Energy names were under pressure through the session, with Woodside Energy Group Ltd (ASX:WDS) recording notable declines. The pullback followed recent fluctuations in oil benchmarks, which had earlier shown support due to conflict-related concerns in the Middle East.

Other names within the oil and gas group also pared early gains, with traders reacting to moderating supply risks and revised expectations on global fuel demand. Despite the drag from energy, the broader index remained anchored by performance elsewhere.

Whyalla Steelworks Heads to Market

In the industrials segment, the sale process for Whyalla Steelworks officially commenced. The steel manufacturer’s ownership transition is being closely observed given its economic impact in South Australia and relevance to domestic manufacturing.

The development signals further shifts in Australia’s heavy industry landscape, with implications for suppliers, infrastructure contractors, and workforce planning across the region.

CBA Nears Milestones; Rio Tinto Eyes New Mine

Commonwealth Bank of Australia (ASX:CBA), a heavyweight on the ASX 100, moved higher during the session, as it continued its trajectory toward fresh milestones. The banking giant remained active on the institutional radar amid updates around digital finance initiatives and loan portfolios.

Separately, Rio Tinto Ltd (ASX:RIO) confirmed plans to collaborate with Hancock Prospecting in developing a new iron ore mine in Western Australia. This joint project expands Rio’s resource footprint and signals further capital allocation toward long-life mining assets within the Pilbara region.

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