ASX ends higher; Insignia jumps

The news: The Australian sharemarket ended higher as iron ore and gold miners rallied on the latest news on Donald Trump's tariffs.

The benchmark ASX 200 gained 0.51% to end at 8,416.9, with eight out of 11 sectors finishing in green.

Biggest movers:

• Insignia Financial (6.94%) — Brookfield Capital Partners joined the bidding war for the company, matching takeover offers by CC Capital and Bain Capital.
• Materials sector (1.61%) — Iron ore miners rallied as the commodity’s prices were boosted by China's retaliatory tariff on imports of US coking coal, which is used for steelmaking, and as a response to tropical cyclone damage in Western Australia’s Pilbara region. Champion Iron (3.03%), Rio Tinto (2.07%) Fortescue (1.99%), and BHP (1.52%) all gained. Gold miners also continued to rally as investors piled into the safe haven asset class amid tariff uncertainty.
• Healthcare sector (-0.55%) — Was the worst performing sector, following a similar retreat on Wall Street as vaccine sceptic Robert F Kennedy Jr passed a critical Senate vote, paving the way to becoming the next US health secretary. Mesoblast (-5.33%), Fisher & Paykel (-2.17%), Telix Pharmaceuticals (-1.45%) and CSL (-1.17%), all fell. However, Clarity Pharmaceuticals (10.1%) bucked the trend and was the best performer across the ASX 200.

Other news:

• BWP Trust (4.86%) — Reported a rise in first-half profit and portfolio value as additional rental income following an acquisition boosted results.
• Pinnacle Investment Management (3.46%) — Analysts lifted their earnings estimates for the investment manager after it reported better-than-expected half-year profit.
• Amcor (2.93%) — Reported second quarter profit and revenue largely in line with estimates and reaffirmed its 2025 earnings forecast
• Fortescue (1.99%) — Has gained a 78% shareholding in Red Hawk Mining which has triggered a lift in its takeover offer price.
• Steadfast (1.05%), AUB (1.59%) — Goldman Sachs said both companies were undervalued ahead of their first-half results later this month. The analysts also upgraded Steadfast’s rating to ‘buy’.
• Centuria Office REIT (0.44%) — Narrowed its half-year loss on the back of steady leasing activity and reiterated its full-year funds and distribution guidance.
• Cleanaway (ended flat) — Reported a "significant fire" at its liquid waste processing facility at St Marys, New South Wales, resulting in closure of the site.