ASX closes higher; GYG rallies 19% on sales surge
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The news: The Australian sharemarket finished higher, tracking overnight gains in the three major indices on Wall Street as markets weighed US President Donald Trump’s ultimatum to Iran.
The benchmark ASX 200 index rose 1.74% to 8,728.8, with all of the 11 sectoral indices in positive territory.
The tech sector (+4%) was the biggest gainer as WiseTech Global (+3.4%), Xero (+1.7%) and Technology One (+2.4%) finished higher.
NextDC (+11.9%) also rallied after announcing it would raise $1 billion in debt by issuing bonds with a 100-year maturity period following a commitment from Canadian investment group La Caisse for the full offer.
Biggest movers
- Guzman y Gomez (+18.6%) — Reported a 20% increase in Q3 network sales and reaffirmed its full-year guidance.
- A2 Milk (-1.9%) — Settled a class action lawsuit for $62 million, relating to alleged continuous disclosure failings regarding FY21.
Other news:
- Bank of Queensland (+6.9%) — Agreed a strategic capital partnership with investment management company Challenger (-2.2%), including a $3.7 billion whole-of-loan asset sale to reduce debt funding by $3.4 billion and return $300 million to shareholders.
- Telix Pharmaceuticals (+4.9%) — Reported an unaudited group revenue increase of 11% quarter on quarter to USD230 million ($332.6 million) for Q1 2026.
- CSL (+1.0%) — Said most of its US product sales will not be subject to tariffs, after the Trump administration announced last week that it intends to impose duties on pharmaceutical products imported to the US.
- DigiCo (-1.7%) — Withdrew its application for its proposed Los Angeles project LAX1 following advice from the council for the City of Monterey Park that planning approval was uncertain at the end of last year.
What’s ahead:
- The US Census Bureau will release durable goods orders data for February at 10:30pm AEST.
- US President Donald Trump’s deadline for Tehran to reopen the Strait of Hormuz is Tuesday 8:00pm local time (10:00am Wednesday AEST).
- The Reserve Bank of New Zealand will make an interest rate decision tomorrow at 12:00pm AEST.
- Reserve Bank of New Zealand governor Anna Breman will hold a press conference tomorrow at 1:00pm AEST.
