Kalkine: ASX300 Opens Firmly as Energy Stocks and Qantas (ASX:QAN) Lead Market Rebound

June 12, 2025 12:27 PM AEST | By Team Kalkine Media

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Kalkine: ASX300 Opens Firmly as Energy Stocks and Qantas (ASX:QAN) Lead Market Rebound — Image source: shutterstock

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Highlights

Energy stocks rally with crude oil price surge

Qantas (QAN) rebounds sharply in early trading

Broader ASX300 momentum led by resource strength

Australian shares ticked higher in early trade on Thursday, buoyed by a rebound in energy stocks and a strong performance from Qantas (ASX:QAN). This upswing followed a mixed session on Wall Street and a significant surge in US crude prices that lifted sentiment for the local energy sector.

At 10:30am AEST, the benchmark S&P/ASX 200 index was up 5.5 points, or 0.06%, to 8,597.6, with seven of the 11 sectoral indices trading in positive territory. The energy sector stood out with a 1.3% gain, outpacing the broader market.

Driving this momentum were shares of Woodside Energy (ASX:WDS) and Santos (ASX:STO), both rising 2.4%. The rally came in tandem with a 5% jump in US West Texas Intermediate crude oil prices, sparked by heightened geopolitical risks after the US initiated partial evacuation plans for its embassy in Iraq.

Other oil-related names also joined the rally: Karoon Energy (ASX:KAR) climbed 3.7%, Beach Energy (ASX:BPT) added 3.2%, and Ampol (ASX:ALD) rose 1.5%, collectively reinforcing energy's dominance in Thursday’s trade.

The early session also witnessed a strong turnaround from Qantas (ASX:QAN), which was the top-performing stock in the ASX 200. The airline surged 4.7% in early trading, recovering sharply from a 1.3% dip in the previous session that followed news regarding the closure of Jetstar Asia. The rebound reflects stabilizing investor sentiment despite restructuring moves in Qantas' budget operations.

However, not all sectors joined the upward movement. Shares of Cettire (ASX:CTT), the online luxury retail platform, faced a steep sell-off of 25.8% after flagging persistent challenges in its core markets. The company cited policy-driven headwinds in the US, particularly changes in tariff regulations, as key pressures affecting demand and margins.

This modest but broad-based uptick aligns with continued optimism surrounding the ASX300 index resilience amid global market volatility.

The day’s performance illustrates the market’s sensitivity to global geopolitical developments and commodity movements, with energy stocks once again taking center stage. Meanwhile, selective gains among airline and resource-linked companies continue to offer directional cues for broader Australian equity indices.

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