ASX hits new highs
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The news: The Australian sharemarket ended higher as it reached a new record-high close and intraday high for the second consecutive day.
The numbers: The benchmark ASX 200 climbed 0.24% to end at 8,140.9, with all 11 sectors finishing in green. The index also set a new intraday high of 8,150.3.
The best performing sector was IT, up 1.07%, followed by AREITs (0.71%). Xero gained 2.31% after it announced that it would acquire South African cloud-based reporting and analytics platform Syft.
New Hope shares rose 2.47% despite the coal miner reporting a profit and earnings slide for the 2024 financial year.
Webjet shares gained 1.61% after shareholders approved a resolution to demerge the travel bookings provider into two ASX-listed companies.
Santos gained 0.43% after it confirmed that it had officially divested a part stake in the Bayu Undan upstream project in favour of Timor Leste’s state energy company.
Elsewhere, Platinum Asset Management shares rocketed 12.63% after the investment manager confirmed it received a takeover proposal by ASX rival Regal Partners. However, Regal fell 1.82% on the news.
Pacific Smiles shares gained 6.55% on a revised takeover offer by long-term suitor Genesis Capital, a month after shareholders blocked a proposed acquisition by NDC Bidco.
Adairs shares rose 3.14% after the homewares retailer appointed former Country Road boss Elle Roseby as its new CEO and managing director.
Contact Energy increased 2.07% after it announced that it was considering making an offer of up to NZD200 million ($183 million) of unsecured subordinated green capital bonds to institutional investors and New Zealand retail investors.
Elsewhere, ASX-minnow Bigtincan shares surged 37.5% after Vector Capital Management submitted an improved proposal to take the sales platform private.
The worst performing sector was materials, up 0.05%, followed by consumer staples (0.09%).
Auckland International Airport lowered 0.58% after the dual-listed airport completed the bookbuild for its $1.1 billion underwritten placement which was priced at a 7% discount to the ex-dividend adjusted last close price.
The Australian dollar is buying 67.56 US cents.
The context: Tonight will see the latest US retail sales figures ahead of the Federal Reserve’s next monetary policy decision on Thursday.
Wednesday will see APM Human Services hold its annual general meeting along with a scheme meeting for shareholders to vote on the acquisition of the company by Ancora BidCo.
Synlait Milk will also hold a scheme meeting for shareholders to vote on the new placement of shares to Bright Dairy on Wednesday.
