ASX ends higher; oil stocks and Clarity Pharma surge

The news: The Australian sharemarket ended the week higher as it was buoyed by a jump in energy stocks following further US sanctions on Iranian oil.

The ASX 200 gained 0.7% to end at 7,813, with 10 out of 11 sectors finishing in green.

Biggest gainers:

• Energy sector (3.64%) — Oil prices extended gains due to potential tighter supply following further sanctions on Iran’s oil exports by the Trump administration. Ampol (7.7%), Karoon Energy (7.63%), Viva Energy (4.26), Beach Energy (3.98%) and Woodside (3.88%) all gained. Woodside also announced today that it had signed a liquefied natural gas supply deal with Germany’s Uniper.
• Clarity Pharmaceuticals (13.1%) — Signed a commercial-scale production agreement with Nusano for its radioactive isotope copper-64, which is used in cancer treatment and diagnostic imaging.
• Challenger (10.21%) — Narrowed its full-year profit guidance after mixed third-quarter results and posted a 20% increase in annuity sales.

Other news:

• Pilbara Minerals (4.38%) — Reported lower production and sales in the March quarter but analysts believe it is on track to meet its FY25 production guidance.
• Insignia Financial (3.33%) — Extended the exclusivity period with both Bain Capital and CC Capital for an extra four weeks.
• Santos (2.91%) — Reported a slight increase in production in the first quarter, although sales volumes dipped amid lower third-party purchases.
• BHP (1.14%) — Flagged that its full-year production guidance remained unchanged despite mixed results during the third quarter.
• South32 (0.75%) — Posted a USD299 million ($470.35 million) increase in net cash to USD252 million during the March quarter.
• Guzman y Gomez (-2.24%) — TDM Growth Partners offloaded $80 million worth of GYG shares, representing its first sale of the stock on the public market.