ASX ends higher as tech rallies
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The news: The Australian sharemarket ended higher after a mixed session that saw the tech sector rally.
The numbers: The benchmark ASX 200 rose 0.4% to end at 7,982.4, with seven out of 11 sectors finishing in green.
The best performing sector was IT, up 2.31%, followed by AREITs (1.95%). Data centre operator NextDC shares soared 8.21% despite the company not making any announcements. After the ASX queried the share price jump, NextDC noted its recent inclusion in a real estate review in the US overnight that pointed to significant recent activity in the data centre sector.
Gold miners rallied after a sector-wide slide on Wednesday, as bullion edged higher following new US jobs data. Red 5 (6.9%), Ramelius (5.1%), and Genesis Minerals (2.9%) were some of the top performers across the ASX 200.
Meanwhile, TPG gained 1.64% after the competition regulator gave the green light for the telco to proceed with a regional network and spectrum sharing deal with Optus.
The worst performing sector was energy, down 3.86%, followed by utilities (-1.58%). Woodside dragged on the energy sector as it fell 6.78% following a ratings downgrade by Citi analysts while it also traded ex-dividend.
Coronado Global was the worst performer across the ASX 200, plunging 16.44% after lowering its production guidance and increasing expected costs due to rainfall.
Challenger shares tumbled 11% after its largest shareholder Apollo Global Management more than halved its stake in the company.
Magellan shares fell 2.39% after the investment manager posted $700 million in net outflows in August.
Atlas Arteria shares dropped 1.58% after a US regulator rejected its application to raise tolls on the Dulles Greenway near Washington DC.
Elsewhere, ASX minnow Energy Resources of Australia plunged 14.29% after the Australian Government Takeovers Panel received an application from two of the uranium miner's shareholders that sought to delay its capital raise.
The Australian dollar is buying 67.26 US cents.
The context: Tonight will see the latest US unemployment figures released.
On Friday, the Australian Bureau of Statistics will release the latest lending indicators and labour account figures.
