ASX closes lower as CSL, WiseTech, Lynas Rare Earths drag
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The news: The Australian sharemarket finished lower as CSL, WiseTech Global and rare earths producers posted huge losses.
The benchmark ASX 200 fell 0.48% to end at 9,012.5 with five out of the 11 sectors finishing in the red.
The healthcare sector (-7.4%) was the worst performing as CSL (-15.9%) plunged after downgrading its full-year profit and revenue outlook following lower-than-expected vaccination rates in the US and government cost containment measures in China.
The tech sector (-3.2%) was also badly hit as WiseTech (-15.9%) informed the market that the Australian Securities and Investment Commission and the Australian Federal Police acted on search warrants at the logistics software company’s Sydney office relating to share trading executed by Richard White and three others.
Biggest movers:
- Rare earth producers – Lynas Rare Earths (-13.9%) and Iluka Resources (-5.2%) were among the worst performing on news that China is expected to delay its strict new export licensing regime. Arafura Rare Earths was in a trading halt ahead of a capital raise announcement.
- Liontown Resources (-12.8%) – Posted a 29% quarter-on-quarter decline in revenue due to lower shipping volumes from port congestion and backward-looking pricing. Lithium mining rivals Pilbara Minerals (-6.1%) and Mineral Resources (-6.2%) also finished lower.
- Gold miners – The spot price of gold fell below USD4,000 per ounce. Greatland Resources (-9.1%) and Capricorn Minerals (-6.5%) were the worst performing gold miners on the ASX 200.
- Domino’s Pizza Enterprises (+7.2%) – Denied reports that Bain Capital is eyeing a potential buyout of the largest international franchisee of the pizza chain.
- AUB Group (+5.9%) – The insurance broker has received an acquisition proposal from Swedish private equity fund EQT that values the ASX-listed company at more than $5.25 billion.
Other news:
- Li-S Energy (+10.3%) – Told the exchange it has completed its lithium foil production line at its Geelong production facility after delivering its first production in July 2025.
- Coronado Resources (-1.5%) – Is set to agree a deal with Queensland government-owned energy company Stanwell Corporation to "improve Coronado's short- and long-term financial viability".
What’s ahead:
- The Australian Bureau of Statistics will release consumer price inflation data for the September quarter tomorrow at 11:30am AEDT.
- Companies holding their annual general meetings tomorrow include Ansell, Data#3, Nick Scali, EBOS Group and Dexus.
