ASX edges higher; Bellevue Gold sheds 20%
Make us a preferred source
Make us a preferred source on Google
The news: The Australian sharemarket edged higher after a mixed session, as gains by healthcare stocks were offset by losses across consumer staples, technology and real estate.
The benchmark S&P/ASX 200 index climbed 0.17%, or 13.1 points, to end at 7,761.7, with seven of its 11 sectoral indices in the red.
Big movers:
- Iluka Resources (5.2%) — Appointed former Macquarie executive James Mactier as its new chair.
- Bellevue Gold (-21.8%) — Emerged from a two-week trading suspension after completing a discounted $156.5 million share placement, having slashed its production guidance and scrapped its five-year growth plan on Monday.
Earnings news:
- Star Entertainment (suspended) — Reported a first-half net loss of $302 million, more than five weeks after its shares were suspended following the group's failure to lodge its financial results.
- Perpetual (-1.4%) — Saw a 4% decrease in assets under management for the March quarter, as each of its boutiques reported net outflows for the period.
- Hub24 (-2.9%) — Recorded a boost to funds under administration in the third quarter of FY25, driven by platform net inflows of $4.9 billion.
- Evolution Mining (3.9%) — Reiterated its full-year production guidance, boosted by the approval of the extension of its Cowal gold mine in New South Wales.
Other news:
- Accent Group (4.7%) — Agreed a 25-year partnership with London-listed retail chain Frasers, that will see it launch and operate sporting goods retailer Sports Direct in Australia and New Zealand.
- Collins Foods (-7.7%) — Flagged impairments in its Netherlands restaurant portfolio and said it will exit the Taco Bell business following a strategic review.
- Bapcor (-1.7%) — Said it will combine its specialist networks and wholesale businesses to optimise the network and build scale to be more competitive in the market.
