AUS
NZ
UK
CA
USA
IND
Highlights
- ASX200 edges higher, led by tech and uranium sectors
- Boss Energy jumps 12.7% on US nuclear reform optimism
- Fortescue and Rio Tinto dip as iron ore weakens
Australian shares saw modest gains by midday Friday, lifted by strength in the technology and uranium sectors, as a dip in US Treasury yields eased fiscal concerns. The ASX200 index rose 0.2% or 17.1 points to 8365.8, with six of 11 sectors trading in positive territory. Broader gains were seen across the All Ordinaries, which added 0.1%.
A reversal in US 10-year Treasury yields, which dropped 7 basis points to 4.53%, brought some relief to global markets. On Wall Street, Tesla’s (NASDAQ:TSLA) 1.8% climb helped support the Nasdaq, though the Dow and S&P 500 ended little changed after initial gains.
Locally, the financial sector supported the index with Commonwealth Bank (ASX:CBA) gaining 0.9%, inching closer to its record high, while National Australia Bank (ASX:NAB) rose 1.1%.
Technology stocks were notable performers, buoyed by similar trends in the US. Data centre operator NextDC (ASX:NXT) rose 1.9%, and accounting software provider Xero (ASX:XRO) advanced 1.1%. These gains contributed to growing interest in ASX dividend stocks, as investors seek opportunities in resilient and income-generating sectors.
However, the mining sector pulled back, dampened by iron ore prices slipping below US$99 a tonne. Fortescue Metals Group (ASX:FMG) fell 1.3% and Rio Tinto (ASX:RIO) dropped 1.1%.
Uranium stocks stood out among the day's top movers following reports suggesting the US may streamline its approval process for nuclear reactors and reduce reliance on China and Russia for enriched uranium. This news triggered a strong rally: Boss Energy (ASX:BOE) surged 12.7%, Paladin Energy (ASX:PDN) jumped 8%, and Deep Yellow (ASX:DYL) climbed 9.6%.
In company-specific news, department store chain Myer (ASX:MYR) gained 3% despite mixed sales performance across its segments. Nufarm (ASX:NUF) declined 4.6% after a recent update led analysts to reassess growth expectations. Australian Vintage (ASX:AVG) tumbled 11.6% following a sales forecast downgrade and rising inventory and debt concerns.
Construction company Duratec (ASX:DUR) slid 6.4% after revising its full-year revenue guidance downward due to project delays and weather-related disruptions.
As investors keep a close watch on global fiscal trends, the day’s moves highlighted renewed interest in S&P/ASX200 sectors like technology and uranium, reflecting a blend of optimism and caution in today’s market environment.
