ASX closes higher as Eagers Automotive posts 15% gain
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The news: The Australian sharemarket closed higher as the tech sector led broad gains, while Eagers Automotive led gains on the ASX 200 as it advanced equity raises to fund a $1 billion strategic investment to expand into Canada.
The benchmark ASX 200 rose 0.46% to end at 8,987.4 despite eight out of the 11 sectors finishing in green.
The tech sector (+1.6%) was the best performing with Wisetech Global (+0.3%), Xero (+1.7%), Technology One (+2.2%), NextDC (+0.9%) and Life360 (+3.1%) finishing higher.
Biggest movers:
- Eagers Automotive (+15.3%) – Announced that the $143 million institutional component has been completed and the $309 million retail entitlement offer would open this evening. The funding will support a $1 billion strategic investment in CanadaOne Auto.
- DigiCo Infrastructure REIT (+11.7%) – The HMC Capital (+7.4%) listed investment trust announced plans to hasten the expansion of its SYD1 data centre after several recent contract wins.
- Mesoblast (+8.7%) – A US Medicare and Medicaid Services code for its Ryoncil cell therapy became active on 1 October 2025, making it “easier to bill and pay for”.
- Fiducian Group (-5.2%) – ASIC launched civil penalty proceedings against the financial services company's subsidiary, Fiducian Investment Management Services, for misleading and deceptive conduct about its environmental, social and governance fund.
- Gold miners – ASX-listed miners were among the biggest losers as the spot price of the commodity eased from record highs. Catalyst Metals (-3.6%), Emerald Resources (-1.7%) and Norther Star Resources (-1.7%) were among the biggest losers on the ASX 200.
Other news:
- TPG Telecom (+2%) –The telco launched a new handset receivables financing structure, targeting an additional $600 million in free cash flow for the financial year ending 31 December.
- Kelsian (+1.4%) – Flagged that the start of two new larger ferries to Kangaroo island, Wanggami and Ruwi, has been delayed to the start of financial year 2027.
- Cobram Estate Olives (+0.3%) – Completed a $6.1 million non-underwritten share purchase plan to support its growth strategy in the US.Another $2 million worth of shares that were not taken up have been placed with “a long-term existing shareholder”.
- AGL (-0.9%) – Shareholders backed its 2025 climate transition plan despite 31% of votes cast in opposition, including Mike Cannon-Brookes’ Grok Ventures.
- Telstra (-0.6%) – Ordered by the Federal Court to pay a penalty of $18 million for breaching Australian Consumer Law after it moved almost 9,000 Belong customers to a lower speed plan without telling them.
- Bank of Queensland (-0.5%) – Flagged a $170 million impairment in its retail bank cash generating unit.
What’s ahead:
- The US Bureau of Labor Statistics is not expected to release jobs and payroll data for September tonight due to the US government shutdown.
- Bank of England governor Andrew Bailey will deliver a speech on ‘macro-financial stability in a fragmenting world’ at the Klaas Knott symposium at 11:20pm AEST.
- The US Institute of Supply Management will release services sector purchasing managers’ index data for September at midnight AEST.
- Monday is the Labour Day public holiday for New South Wales, South Australia and the Australian Capital Territory. Queensland will also have a public holiday for the King’s Birthday.
