ASX closes higher; lithium, gold miners lead materials surge
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The news: The Australian sharemarket finished higher as the minerals sector surged on higher commodity prices.
The benchmark ASX 200 index rose 1.85% to 8,534.3 with eight of the 11 sectoral indices finishing in the green.
The materials sector (+4.4%) was the biggest gainer as BHP (+3.3%), Fortescue (+1.8%) and Rio Tinto (+1.6%) finished higher. Lithium producers Vulcan Energy (11.9%) and Liontown Resources (11.6%) as well as gold miners Bellevue Gold (11.1%) and Greatland Resources (10.9%) were among the best performers on the ASX 200.
Rio Tinto also secured $2 billion in government support for its Boyne aluminium smelter in Gladstone to help it switch to renewable energy.
The energy sector (-2.3%) was the worst performing as oil prices fell after Trump submitted a proposed 15-point peace plan to Iran. Karoon Energy (-7.3%), New Hope Corporation (-5%) and Beach Energy (-5.3%) were the biggest losers on the ASX 200.
Amplitude Energy (-36.7%) also announced its Isabella gas exploration well was not commercially viable.
Biggest movers:
- 4D Medical (+34.6%) — Announced the deployment of its flagship lung imaging technology CT:VQ at Mayo Clinic in the US.
Other news:
- Nickel Industries (+6.8%) — Received Rencana Kerja dan Anggaran Biaya approval for its 2026 nickel ore sales in Indonesia.
- Pepper Money (+5.4%) — Ended discussions to be acquired by Challenger after the investment management company lowered its offer last week.
- Tuas (+3.5%) — Reported a record 173% uplift in its statutory net profit after tax to SGD8.2 million ($9.1 million) for the six months ended 31 January 2026.
- PEXA (+3.3%) — National Westminster Bank (NatWest) is now able to transact on PEXA UK’s platform but the bank will use a subsidiary system acting as the conveyancer until more UK conveyancers start using the platform.
- Worley (+2.8%) — Has implemented “enhanced safety and security measures” to support staff in the Middle East amid ongoing conflict in the region.
- EVT Group (+2.5%) — Finalised its refinancing process, increasing the main debt facilities to $750 million, from $650 million in 2023.
- APA Group (+1.1%) — Completed the divestment of its 20% stake in GDI, valued at $62 million, following a previous announcement on 18 December 2025.
What’s ahead:
- RBA assistant governor Chris Kent will speak at the KangaNews Debt Capital Market Summit in Sydney at 9:15am AEDT on Thursday.
