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Market Wrap

ASX ends higher; Nine, Domain rally on Costar deal

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The news: The Australian sharemarket ended higher, with Nine Entertainment and Domain both rallying on news of the latter's takeover by CoStar.

The ASX 200 gained 0.48% to end at 8,231.2, with nine out of 11 sectors finishing in the green.

Biggest ASX 200 movers:

  • Nine Entertainment (+6.04%), Domain (+3.06%) — Nine-owned Domain sealed a $3 billion takeover by CoStar which Nine has backed.
  • News Corp (+4.83%) — Reported a slight increase in third-quarter revenue driven by growth in Dow Jones.
  • Healius (-25%) — Traded ex-dividend ahead of its special dividend that will see the company return $300 million to shareholders.
  • REA group (-2.04%) — Reported higher third-quarter revenue off the back of yield growth and market expectations that interest rates will continue to ease in Australia, but faced pressure from news of CoStar's Domain takeover.

Earnings:

  • Macquarie (+3.79%) — Reported a 5% lift in full-year profit to $3.72 billion, topping analyst estimates.
  • QBE (+3.48%) — Reaffirmed its full-year outlook and posted a rise in premiums for the first quarter of 2025.
  • Avita Medical (-16.39%) — Posted a sharp revenue lift of 67% during the first quarter that failed to impress investors.

Other news:

  • Chrysos Corporation (+17.92%) — Inked a deal that will see gold miner Newmont use its technology across its operations.
  • Webjet Group (+11.88%) — An undisclosed investor is seeking to acquire up to 5% of shares in the company, which it revealed after receiving a speeding ticket from the ASX.
  • GQG Partners (+4.63%) — Posted a rise in funds under management in April and announced its quarterly dividend.
  • Alcoa (+3.33%) — Announced that former Brambles chief executive Thomas Gorman will be its new non-executive chair.
  • WiseTech (+1.07%) — HESTA has placed the company on its watchlist due to concerns about its governance, leadership and culture.
  • MedAdvisor (-26.15%) — Emerged from a trading halt following its announcement that an unnamed suitor with a market cap of USD100 billion ($156.45 billion) has lobbed a $35 million takeover bid plus earn-out for the company.

By Jassmyn Goh