ASX eases in short session after six-week high
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The news: The Australian sharemarket eased during a shortened Christmas Eve trading session as traders took profits after rallying to a six-week high on Tuesday.
The benchmark ASX 200 slipped 0.41% to 8,759.30. The market closed at 2:10pm AEDT and won't reopen until December 29 due to Christmas and Boxing Day.
Healthcare and tech were among the weakest sectors, with CSL (-2.4%) and ResMed (-2.1%), and WiseTech Global (-0.35%) and Xero (-2%) all lower. Consumer discretionary faced broad losses ahead of Boxing Day sales, with Wesfarmers (-1%) and JB Hi-Fi (-0.3%) retreating.
Gold surged to a fresh record high breaking USD4,500 an ounce, up around 70% for the year and on track for its strongest annual gain since 1979.
Platinum also reached an all-time high above USD2,300 an ounce, rising for a 10th straight session on tight supplies – its longest winning streak since 2017 and biggest annual gain since 1987 (up over 150%).
Oil held a five-day gain with WTI above USD58 a barrel amid escalating US-Venezuela tensions, though crude remains on track for its biggest annual decline since 2020.
Biggest movers:
- Monash IVF (-13%) – Shares plunged after a Soul Patts and Genesis Capital consortium withdrew its 80 cents per share takeover bid, which Monash had rejected as "opportunistic" last month.
- Treasury Wine Estates (+7%) – Shares rallied after a Luxembourg-based investment company backed by former consumer goods executive Olivier Goudet increased its stake to 5.05% in the Penfolds owner.
- Lendlease (+5%) – Secured a $3.7 billion contract for the Hunter Street Sydney Metro station and 52-storey West Tower development, with construction to commence in FY27.
- Advanced Energy Minerals (+15%) – Rallied on its ASX debut after raising $44.8 million at 53 cents per share, valuing the high-purity alumina producer at around $312 million.
- Seven West Media (+4%) – Rallied in its final ASX session after the NSW Supreme Court approved the Southern Cross Media takeover, with shares to be suspended at close on Christmas Eve.
Other news:
- AirTrunk – Announced plans to build a second Melbourne data centre with 354MW capacity, investing $5 billion in what it says is one of the largest economic boosts to Victoria.
- Blackstone – Agreed to buy Hamilton Island from the Oatley family for $1.2 billion, ending more than 20 years of family ownership. The 2,800-acre site remains 70% undeveloped.
- NextDC – Received final approval for its S4 Sydney data centre at Horsley Park, a major step in expanding its footprint for hyperscale and AI clients in Western Sydney.
What's ahead:
- Markets in Australia, the UK and Europe will be closed for Christmas Day on Thursday and Boxing Day on Friday.
- The US will release initial jobless claims for the week ending December 20.
- Japan will release housing starts data for November.
- China's National People's Congress Standing Committee continues to meet.
