ASX ends 2% higher as war optimism spurs biggest one-day rally for a year
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The news: The Australian sharemarket delivered its best session since last April after growing optimism for a resolution to the war in the Middle East drive a broad rally.
The benchmark ASX 200 index ended 2.2% higher at 8,671.8. Ten of the 11 sectoral indices finished in positive territory, with materials (+4.9%) and technology (+3.5%) making the biggest gains.
Biggest movers:
- Greatland Resources (+14.9%) — Led a rally among miners, with gold producers Pantoro Gold and Predictive Discovery also jumping more than 10%.
- Pexa Group (-14.7%) — Downgraded by UBS to ‘neutral’ after the Independent Pricing and Regulatory Tribunal proposed to regulate fees.
Others news:
- Star Entertainment (+8.7%) — Completed its disposal of its interest in the Destination Brisbane Consortium to the other joint venture partners Chow Tai Fook Enterprises and Far East Consortium International.
- Perenti (+4.1%) — Appointed former South32, BHP and Vale executive Vanessa Torres as its new managing director and CEO.
