ASX ends lower as tech rout continues; A2 Milk tanks on guidance hit
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The news: The Australian sharemarket ended lower as tech stocks led a broad selloff, while energy producers rallied as oil prices pushed higher after US President Donald Trump ordered a blockade of the Strait of Hormuz following failed weekend talks with Iran.
The benchmark ASX 200 index fell 0.39% to 8,926, with eight of the 11 sectoral indices in negative territory.
Biggest movers:
- A2 Milk (-13.0%) — Slashed its FY26 guidance due to supply chain issues related to the Middle East conflict.
- Telix Pharmaceuticals (+7.7%) — Will receive $57 million from biotech firm Regeneron as part of a joint development and commercialisation agreement.
Deals:
- Insignia Financial (+0.4%) — Set to complete its $3.3 billion buyout by CC Capital and withdraw from the ASX after its shareholders voted overwhelmingly to approve the deal.
- Monash IVF (+15.8%) — Received an improved takeover offer from longtime suitors Genesis Capital and Soul Patts.
- Pro Medicus (+4.3%) — Signed a $37 million, five-year contract renewal with Chicago-based academic health system Northwestern Medicine.
Other news:
- Regal Partners (-1.6%) — Appointed AIA Australia chairman Peter Yates as an independent non-executive director and chair-elect, effective today.
- Viva Energy (+3.6%) — Reported an additional $25 million impairment expense for the 2025 calendar year following a review undertaken through ASIC’s financial reporting and audit surveillance program.
- Brambles (-1.9%) — Reviewing a Federal Court judgment on a 2022 class action trial, which upheld claims by shareholders that the company engaged in misleading or deceptive conduct in relation to its FY17 guidance.
