ASX closes higher; Life360 surges 27% on improved outlook, guidance beat
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The news: The Australian sharemarket finished higher as family location sharing app Life360 surged higher after telling the market to expect 2025 revenue and adjusted EBITDA to “exceed prior guidance”.
The benchmark ASX 200 rose 0.13% to end at 8,860.1 even though seven of the 11 sectors finished in the red. The healthcare sector was flat.
Life360 (+27.4%) led a rally in the tech sector after announcing that it expects full-year revenue for 2025 to come in between USD486 million ($711 million) and USD489 million, which would mark 31-32% growth year over year and exceeds guidance.
WiseTech Global (+0.3%), Xero (+3.5%), Technology One (+2.8%) and NextDC (+2.7%) also finished higher.
Consumer staples was the worst performing sector as Woolworths (-1.2%), Coles (-0.4%), Endeavour Group (%) and a2 Milk (-4.1%) took losses.
Biggest movers:
- Gold miners – Made up six of the top 10 performers on the ASX 200 as gold prices set a fresh intraday high of USD4,967.25 per ounce. Regis Resources (+10.2%), Greatland Resources (+7.7%) and Ramelius Resources (+7.4%) led the rally.
Other news:
- Guzman y Gomez (+3.8) – Struck a multi-year partnership with Uber Eats aimed at boosting delivery sales growth in Australia.
- Capstone Copper (-3.4%) – Said it is seeking judicial support as striking union members continue to disrupt operations at its Mantoverde mine in Chile.
What’s ahead:
- The ASX will not trade on Monday because of the Australia Day public holiday.
- S&P Global will release January’s flash manufacturing and services purchasing managers index data for the UK, Germany, France and the US overnight.
- The World Economic Forum in Davos Switzerland will enter its last day.
