ASX ends higher again as energy stocks rally; Block drops 26%
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The news: The Australian sharemarket extended its recent rally, closing higher for the seventh straight session as energy and healthcare stocks led gains.
Energy, up 2%, ended as the best performing sector, as oil giants Woodside Energy and Santos both advanced. Healthcare, up 1.9%, was boosted by biotech CSL and pharmacy wholesaler Sigma Healthcare, which each added more than 2%.
The benchmark S&P/ASX 200 index rose 1.13%, or 92.4 points, to end at 8,238, with 10 of the 11 sectoral indices in the green.
Big movers:
- Block (-26.7%) — Missed estimates for first-quarter earnings and downgraded its full-year profit growth forecast amid muted consumer spending.
- Corporate Travel Management (-10%) — Lowered its forecast for full-year revenue and earnings due to the impact of recent US tariff announcements on client activity.
Other news:
- Helia Group (1.4%) — Reported a 29% lift in first-quarter profit on the back of a higher level of housing loans written.
- Computershare (-4.1%) — Downgraded by UBS for the second time in four months on concerns of constrained earnings growth in fiscal 2026.
- Gold Road Resources (-2%) — Entered a trading halt on the ASX, citing "media speculation over a potential change of control transaction".
