AUS
NZ
UK
CA
USA
IND
Highlights
- (ASX:AD8) jumps 26% after strong half-year results
- (ASX:BEN) slides 15% on weaker margins and earnings shortfall
- Seven sectors end in the green, with Utilities leading gains
The Australian stock market wrapped up the trading session with a slight dip, as the ASX 200 closed 0.22% lower at 8,537.1 points on below-average volumes. Despite the decline, the index remains close to its 52-week high, reflecting a 0.3% gain over the past five days and standing just 0.91% below its yearly peak.
The standout performer of the day was (ASX:AD8) Audinate Group, which surged 26% to $9.59 per share. The company’s first-half FY25 results exceeded expectations, driving strong investor sentiment. While gross profit fell 29% year-on-year to US$16 million, the gross margin reached an impressive 82%, thanks to a strategic shift towards higher-margin software-based products.
On the other end of the spectrum, (ASX:BEN) Bendigo and Adelaide Bank faced a steep decline of 15% to $11.37 per share, making it the session’s worst performer. The regional lender reported a 1.1% drop in cash earnings after tax on a yearly basis, with a more pronounced 9.7% decline compared to the second half of FY24. The bank’s weaker margins contributed to an earnings shortfall, which weighed on its stock price.
Sector-wise, seven out of eleven sectors closed in positive territory. Utilities led the gains with a 1.6% rise, while Energy was the weakest performer, dropping 1.51%.
Among smaller-cap stocks, (ASX:CLE) Cyclone Metals saw a 20.69% jump to $0.07 after securing a US$138 million joint venture agreement with Vale to develop the Iron Bear Iron Ore Project in Canada. Meanwhile, (ASX:SIX) Sprintex Ltd climbed 20.38% to $0.065 following an update on its strategic collaboration with Mest Water, with a large-scale purchase order on the horizon.
Other notable movers included (ASX:LVM) Livium Ltd, which soared 25% to $0.015, and (ASX:NXM) Nexus Minerals Ltd, gaining 11.87% to $0.066. (ASX:NVA) Nova Minerals Ltd saw a 6.25% increase to $0.34, while (ASX:PEN) Peninsula Energy Ltd rose 6.0% to $1.06. (ASX:IG6) International Graphite Ltd advanced 5.36% to $0.0959, supported by encouraging test-work results, and (ASX:OCC) Orthocell Ltd gained 5.10% to $1.65.
As the ASX hovers near its peak, investor sentiment continues to be influenced by company earnings, sectoral performance, and key corporate developments.
