ASX adds 0.6%, uranium miners extend rally
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The news: The Australian sharemarket ended higher as healthcare and mining stocks led gains.
The benchmark S&P/ASX 200 index rose 0.6%, or 47.7 points, to end at 7,968.2, with eight of the 11 sectoral indices in the green.
The healthcare sector, up 1.2%, was boosted by a strong third-quarter result from sleep health company Resmed. Materials also added 1.2%, with embattled mining group Mineral Resources jumping nearly 6%.
Meanwhile, uranium miners Paladin Energy, Deep Yellow and Boss Energy made up three of the top five performing ASX 200 stocks, still rallying on Paladin's better-than-expected quarterly result on Wednesday.
Big movers:
- Paladin Energy (12.1%) — Extended gains after reporting record quarterly production at its Langer Heinrich mine on Wednesday. Rivals Deep Yellow (9.6%) and Boss (8.4%) also surged.
- Woodside Energy (-2%) — UBS trimmed its earnings forecasts on the oil producer after it reported a drop in first-quarter production and revenue a day earlier.
Earnings:
- Generation Development Group (-14.9%) — Reported a 5.5% quarterly uptick in funds under management and net inflows of $685 million.
- ResMed (8.5%) — Posted strong revenue growth and a double-digit earnings increase in the third quarter, helping lift margins across its global sleep and respiratory care businesses.
- Newmont Corporation (3.5%) — Recorded a 19% slide in quarterly production due to lower contributions from its non-core operations.
- Liontown Resources (0.9%) — Reported a 17% increase in revenue for the March quarter, as production and sales of spodumene concentrate both rose.
Other news:
- Domino's Pizza (2%) — Announced a reshuffle in its global leadership team as part of an overhaul of company performance.
- Capricorn Metals (1.6%) — Agreed to buy the Ninghan gold project in Western Australia from ASX small cap Sabre Resources (33.3%) for $1.6 million.
- PWR Holdings (-5.7%) — Advised that its managing director and founder Kees Weel is taking temporary leave from his role to seek treatment for an acute medical condition.
