Skip to content

Briefing

Market Wrap

ASX closes flat; consumer discretionary losses offset gold rally

Make us a preferred source
Link copied

The news: The Australian sharemarket finished flat as the consumer discretionary and utilities sectors offset broader gains including for ASX-listed gold miners.

The benchmark ASX 200 fell 0.04% to end at 8,881.9 with four out of the 11 sectors finishing in the red.

The consumer discretionary sector (-1.7%) was the worst performing as Wesfarmers (-2.5%), JB Hi-Fi (-3.4%), Breville Group (-2.4%) and Lovisa (-4.8%) finished lower.

The utilities sector (-1.1%) also fell as Origin Energy (-2.8%) reported a 12% drop in gas sales volumes for the first quarter, as a number of trading sales contracts ended.

Biggest movers:

  • Mayne Pharma (-31.5%) – Its acquisition by Cosette Pharmaceuticals was put into doubt after Federal Treasurer Jim Chalmers said the buyout "would be contrary to national interest" and said his preliminary decision is to block the deal.
  • Steadfast Group (-9.7%) – Confirmed that managing director and CEO Robert Kelly has temporarily stood aside amid an external investigation into a workplace complaint made against him.
  • Humm Group (-9%) – Says its loan volumes are going backwards and will finish this financial year lower than FY25.
  • Vault Minerals (+5.8%) – Led a rally by gold producers after gold prices temporarily climbed above USD4,000 per ounce overnight. Gold stocks made up six of the top 10 performers on the ASX 200.

Other news:

  • Resmed (+1.7%) – Posted revenue of $2 billion in the September quarter, delivering a year-on-year increase of 9% amid growing margins.
  • Endeavour Group (0%) – Reported a 1% slide in first-quarter sales at its Dan Murphy's and BWS stores, noting "relatively subdued" levels of consumer spending during the period.
  • ANZ (-0.6%) – Warned that several significant items will impact the first set of results to be released under new CEO Nuno Matos, flagging a net after tax charge of $1.109 billion for the second half.

What’s ahead:

  • ANZ will release job ads data for October on Monday at 11:30am AEDT.
  • The Australian Bureau of Statistics will release building approval and household spending data for September on Monday at 11:30am AEDT.
  • The RBA will release data on the selling price of exported commodities for October on Monday at 4:30pm AEDT.

By Brandon How