ASX ends higher as energy, mining stocks surge

The news: The Australian sharemarket ended higher as energy stocks paced gains. Uranium producers Paladin Energy, NexGen Energy and Deep Yellow all soared, while fuel retailer Ampol climbed after receiving long-awaited approval by the ACCC for its $1 billion EG Australia buyout.

The benchmark ASX 200 index rose 0.7% to 8,785.7, with six of the 11 sectoral indices ending in positive territory.

Biggest movers:

• Paladin Energy (+11.5%) — Led gains in energy stocks, which collectively added 1.6%, as fellow uranium explorers NexGen Energy (+9.4%) and Deep Yellow (+8.0%) surged.
• Ampol (+3.4%) — Had its proposed $1 billion acquisition of EG Australia approved by the ACCC, subject to the sale of 41 retail fuel sites to an approved purchaser.

Other news:

• Qantas (-0.5%) — Confirmed another delay to its Project Sunrise aircraft, with first delivery now expected in April 2027, pushing the start of commercial flights to the end of next year.
• Megaport (halted) — Announced four new AI infrastructure contracts worth approximately $459 million and launched an entitlement offer to raise $827 million to fund the capex required to deliver the contracts and establish a GPU pool.
• Superloop (+0.3%) — Upgraded its FY26 guidance as the management team presented its new, three-year strategy to investors.
• Ingenia Communities (+5.4%) — Said it remains on track to deliver the top end of its guidance range for FY26, as the company sees ongoing positive momentum in its annuity-style cashflows.
• Elanor Investors Group (suspended) — Appointed David McNamara as its new chief executive, replacing Tony Fehon who has served as interim managing director since 2024.