ASX hits record high, TechnologyOne surges
Make us a preferred source
Make us a preferred source on Google
The news: The Australian sharemarket reached a record high as the tech sector led gains with TechnologyOne investors cheering following a favourable full-year result.
The benchmark ASX 200 gained 0.89% to close at 8,374, with all 11 sectors finishing in green. The ASX 200 also hit an intraday high of 8,446.4.
Biggest movers:
- Technology One (10.05%) — Reported a 15% rise in full-year profit after tax to $118 million.
- Sonic Healthcare (6.83%) — Reaffirmed its full-year guidance after revenue climbed 10% during the first four months of the 2025 financial year compared to a year ago.
- Elders (-10.87%) — Completed its $143 million equity raise. Its offer price was a 9.2% discount to its last closing price.
Earnings:
- ALS (5.73%) — Reported double-digit growth in underlying revenue for the first half of the year, while acquisition-related costs weighed on profit.
- Seek (3.52%) — Reiterated its full-year guidance for adjusted profit and revenue but narrowed its expenditure guidance range.
- BlueScope (1.1%) — Confirmed its first-half EBIT guidance but flagged continued challenging operating conditions in the steel industry.
- Monadelphous (2.24%) — Handed down a more upbeat outlook for FY25 compared to three months ago with expectations of first-half and full-year revenue growth.
- KMD (-3.85%) — Reported a 5.8% drop in first-quarter sales as each of its brands lost ground compared to the previous corresponding period.
Other news:
- Sayona and Piedmont Lithium (both halted) — Have agreed to merge to become a $931 million company.
- Gold miners — Rallied as spot gold continued to stage a recovery, with De Grey Mining (6.05%), Genesis Minerals (4.7%) and Vault Minerals (4.62%) gaining the most.
- Newmont (2%) — Announced it has sold its Musselwhite operation in Canada to Orla Mining for up to USD850 million ($1.3 billion).
- Santos (0.29%) — Announced it is aiming to return at least 60% of all-in free cash flow to shareholders from 2026 as part of its updated capital allocation framework.
- PEXA (-3.83%) — Refused to comment on media reports that it had made an informal takeover bid for Toronto-listed legal and information services firm Dye & Durham.
The Australian dollar is buying 65.05 US cents.
What’s ahead: Events on Wednesday include:
- AGMs: Boss Energy, Downer EDI, Northern Star and Charter Hall.
- Earnings: Web Travel and Webjet.
