ASX closes lower; only energy sector green as Brent crude breaches USD100 a barrel
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The news: The Australian sharemarket finished lower. Only the energy sector posted gains as oil prices surged as Oman reportedly evacuated a key oil export terminal and two crude oil tankers in Iraqi waters were hit.
The benchmark ASX 200 index fell 1.31% to 8,629, with 10 of the 11 sectoral indices ended in negative territory.
The energy sector finished higher, as Brent crude prices surged above USD100 per barrel before easing. OIl and gas producers Woodside (+2.1%), Santos (+1.5%), Karoon Energy (+4.8%) and Beach Energy (+3.6%) finished higher as did oil refiners Viva Energy (+2.5%) and Ampol (+2.9%). Coal producers Yancoal (+10.5%) and Whitehaven (+6.7%) also gained.
The tech sector (-3.4%) was the worst performer as IperionX (-14.3%), Siteminder (-8.1%) and Catapult Sport (-7.8%) among the biggest losers on the ASX 200.
Biggest movers:
- Electro Optic Systems (-7.4%) — Told the market that the ASX had “former the view that” an announcement made on 15 December relating to a contract with South Korean business Goldrone “failed to adequately describe market sensitive information”. EOS has conducted a review of and updated its continuous disclosure policy at the direction of the ASX.
- Collins Foods (+5.2%) — Signed a binding asset purchase agreement to acquire eight KFC restaurants located in Germany as part of its expansion plan, valued at EUR31.1 million ($50.3 million). Completion is expected between May and June 2026.
Other news:
- Nick Scali (-4.6%) — Appointed former mycar and Koala executive Keith Toms as chief financial officer and company secretary.
- Champion Iron (-2.4%) — Achieved the minimum acceptance closing condition for its proposed takeover of Norwegian iron ore producer Rana Gruber after the target’s shareholders voted in favour of the acquisition.
- Liontown Resources (-0.6%) — Widened its first-half net loss after recording a $104 million non-cash accounting charge linked to a convertible note held by LG Energy Solution.
What’s ahead:
- The US Department of Labor will report weekly unemployment claims data at 11:30pm AEDT.
