ASX records sixth straight gain as tech stocks jump 4%
The news: The Australian sharemarket ended 0.24% higher as technology and real estate stocks led gains.
The benchmark S&P/ASX 200 index added 19.4 points, to end at 8,145.6, with seven of the 11 sectoral indices in the green.
Big movers:
- Technology stocks (4%) — The sector surged as WiseTech Global (6.6%), NextDC (4.6%) and Xero (3.2%) all advanced strongly.
- Judo Capital (-16.9%) — Cut its full-year gross loans and advances guidance due to the "significant volatility" in its operating environment in recent weeks.
Deals:
- Worley (-1.8%) — Awarded a two-year extension to its contract with oil and gas producer Woodside Energy (-2.6%) to provide brownfield engineering and procurement services to the Karratha and Pluto gas plants in Western Australia.
- Healius (4.1%) — Completed the sale of its Lumus Imaging subsidiary to funds managed by Asian private equity firm Affinity Equity Partners.
- Platinum Asset Management (11.4%) — Fund manager L1 Capital picked up a 9.6% stake in the rival fund manager and opened talks over a possible merger.
- Resolute Mining (-2%) — Agreed to buy two mining projects in Côte d’Ivoire from AngloGold Ashanti for $234 million.
- Amcor (-3.8%) — Completed its $13 billion acquisition of US-based Berry Global earlier than anticipated but narrowed its full-year earnings guidance after a weaker-than-expected third quarter performance amid softer demand in North America.
Other news:
- Woolworths (1.2%) — Reported a 3.2% uptick in third-quarter sales to $17.3 billion, boosted by double-digit growth in its eCommerce segment.
- ASX (1.1%) — Completed a resourcing and capability review for its CHESS system, after the Reserve Bank of Australia and the Australian Securities and Investments Commission raised concerns over its management of operational risk in March.
- Sims (0.6%) — Said it will cease work to develop and commercialise plasma-assisted gasification technology for the processing of automotive shredder residue waste.