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Highlights:
Australian sharemarket closed higher with strength across energy and technology sectors
Key corporate announcements included merger activity and leadership changes
Majority of sectoral indices ended positively, led by strong movement in selected stocks
The Australian sharemarket witnessed another positive session, driven by advances in energy and technology sectors. The benchmark S&P/ASX 200 closed higher, marking the third consecutive session of gains, with a majority of sectoral indices finishing in the green.
Energy and Technology Sectors Propel Gains
Energy companies and ASX Technology Stocks (ASX:XTX) provided notable upward momentum. Strength in resource-linked shares and innovation-driven businesses contributed to broader market resilience despite selective company-specific headwinds. Technology-related firms continued to see buying interest, reinforcing sentiment across the sector.
Major Stock Moves
Lynas Rare Earths (ASX:LYC) advanced after reporting lower quarterly production but achieving higher sales revenue by focusing efforts on supplying high-value strategic customers. This strategic shift supported the company's revenue performance despite operational constraints.
Telix Pharmaceuticals (ASX:TLX) saw a decline after the US Food and Drug Administration issued an update that halted the approval process for an investigational imaging agent for glioma. The company's management acknowledged the regulatory feedback and indicated future steps for the project.
Corporate Deal Announcements
James Hardie Industries (ASX:JHX) updated shareholders with confirmation regarding elements of a merger with outdoor living products maker AZEK, listed on the New York Stock Exchange. The communication reaffirmed intentions to progress discussions around creating a larger construction materials group.
Domain Holdings Australia (ASX:DHG) extended its exclusivity deed with CoStar, related to a takeover proposal. Discussions between the companies remained ongoing with the aim to finalise a binding agreement under mutually agreeable terms.
Alkane Resources (ASX:ALK) announced a planned merger with Canadian company Mandalay Resources. The combination is designed to expand scale and resources, aligning with sector movements amid strengthening bullion prices.
Ainsworth Game Technology (ASX:AGI) experienced a substantial rise after majority shareholder Novomatic launched a bid to acquire the remaining shares in the company. The move aims to consolidate Novomatic's position in the gaming technology segment.
Other Corporate Developments
Brambles (ASX:BXB) narrowed its full-year sales guidance for the upcoming fiscal period. The company cited a dynamic tariff environment as a reason, while price adjustments provided support for earlier periods in the financial year.
Flight Centre Travel Group (ASX:FLT) revised its full-year profit expectations downward due to the impact of recent tariff measures affecting trading conditions, especially in the United States market.
Novonix (ASX:NVX) appointed Michael O’Kronley as its new Chief Executive Officer. The leadership change comes following the departure of the previous CEO earlier in the year, with the company focusing on continuity and advancing its strategic projects.
