ASX ends lower as tech stocks extend selloff; Telix climbs on FDA decision
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The news: The Australian sharemarket ended lower as tech stocks weighed on the market for a second straight session, tracking a software selloff on Wall Street overnight.
The benchmark ASX 200 index fell 0.14% to 8,960.6 with eight of the 11 sectoral indices in negative territory.
The tech sector (-1.8%) was the worst performing as WiseTech Global (-2.6%), Xero (-2.7%) and Technology One (-0.7%) finished lower.
Biggest movers:
- Orora (-8.3%) — Ended as the worst performer on the ASX 200 for the second straight session after downgrading its full-year guidance on Thursday.
- Telix Pharmaceuticals (+7.3%) — Had a new drug application accepted by the US Food and Drug Administration for its progressive glioma imaging agent TLX101-Px.
Other news:
- Magellan Financial Group (+1.2%) — Shareholders approved its merger with Barrenjoey Capital Partners, with 91.16% of proxy votes cast in favour of the deal prior to the meeting.
- Life360 (-3.3%) — Chief executive Lauren Antonoff took to LinkedIn to confirm an undisclosed number of layoffs as it moves towards an “AI-native model”.
- Electro Optic Systems (-1.5%) — Defended a director’s purchase of shares ahead of a price sensitive contract announcement, stating the director has confirmed he was not in possession of inside information.
- Fortescue (-1.3%) — Announced it is accelerating plans to run its Pilbara operations on renewable energy and has told the market that in late 2027 its green grid will “power all of Fortescue’s operations for 24-hour periods without fossil fuels”.
What’s ahead:
- The US Bureau of Statistics will release its monthly consumer price index at 10:30pm AEST on Friday.
