ASX ends 1.3% higher as energy and tech stocks surge
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The news: The Australian sharemarket closed 1.3% higher as energy (4.5%) and technology (3.9%) stocks gained strongly.
The benchmark S&P/ASX 200 index added 103.8 points to end at 7,920.5, with all of the 11 sectoral indices in the green.
Biggest ASX 200 movers:
- Paladin Energy (24.6%) — Reported record quarterly production at its Langer Heinrich mine in Namibia, despite a pause in operations last month due to a "one-in-fifty-year" rainfall event.
- Ramelius Resources (-14.6%) — Led a selloff among gold miners as bullion prices retreated from an all-time high.
Earnings:
- Woodside Energy (3.6%) — Reported a drop in first-quarter production and revenue, but shares climbed as global crude prices advanced.
- Cettire (-24.4%) — Recorded a $4.7 million loss in adjusted earnings for the third-quarter and warned of softer demand in the US following recent tariff announcements.
- Insignia Financial (4.5%) — Posted a 1.5% slide in funds under management and administration during the March quarter, as total net outflows came to $1.8 billion.
- Atlas Arteria (1%) — Reported higher average traffic and average toll revenue in the first quarter, driven by toll increases across the majority of its businesses.
Other news:
- Capricorn Metals (-11.4%) — Told investors that its chief executive Paul Criddle was charged with aggravated assault, to which he has pleaded not guilty.
- Mineral Resources (2.1%) — Announced the resignation of non-executive director Denise McComish, a week after the abrupt departure of fellow board members Susie Corlett and Jacqueline McGill.
- De Grey Mining (-9.9%) — Will be suspended from trading on the ASX as its acquisition by larger rival Northern Star Resources (-9.6%) enters the final stages.
