ASX opens higher; Telix Pharmaceuticals leads healthcare gains on upgraded revenue guidance
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More news: Australian shares climbed in morning trade as Telix Pharmaceuticals saw its share price surge on upgraded revenue guidance, helping drive gains in the healthcare sector.
The benchmark S&P/ASX 200 index was up 78.8 points, or 0.89%, to 8,877.8 at 11:03am AEDT. Nine of the 11 sectoral indices were in positive territory.
Telix Pharmaceuticals (+15.7%) was leading the ASX 200 in morning trade as the healthcare sector (+1.6%) posted the biggest gains. On Tuesday evening, Telix upgraded its 2025 revenue guidance after posting a 53% year-on-year gain in unaudited group revenue for the September quarter.
The Bank of Queensland (+15.5%) lifted after releasing its full-year earnings. Domino’s Pizza Enterprises (+4.4%) also lifted after its US counterpart said the ASX-listed company’s store closure program is nearing completion. IperionX (+7.1%) also released its US annual report.
Capstone Copper (-5.7%) and Catapult Sports (-2.7%) after announcing deals earlier this week, while DroneShield (-4.4%) continued to fall.
Australian shares to lift as US bank results, Trump remarks leave Wall St mixed
The news: Australian shares are poised edge higher at the open after a mixed session on Wall Street, as investors weighed broadly positive quarterly results from the big US banks, while new comments from US President Donald Trump fuelled further trade war concerns.
The numbers: Updated at 7:30am AEDT:
- ASX futures: up 1 point, or 0.01%, to 8,879
- Wall Street: Dow Jones up 0.44%, S&P 500 down 0.16% and Nasdaq down 0.76%
- Europe: CAC 40 down 0.18%, DAX down 0.62% and FTSE 100 up 0.10%
- Spot gold: up 0.38% to USD4,143 per ounce
- Oil prices: Brent down 1.85% at USD62.18/bbl and US WTI down 1.75% to USD58.51/bbl
- AUD: up 0.50% to 64.82 US cents
- Bitcoin: down 2.19% to USD112,712.
The context: The Dow ended higher while the S&P 500 and Nasdaq dropped as a slate of big US banks reported their third-quarter earnings.
Wells Fargo (+7.2%), Citigroup (+3.9%) and BlackRock (+3.4%) all rallied after posting better-than-expected results. JPMorgan Chase and Goldman Sachs both lost around 2% despite largely positive reports.
Investors were buoyed at the start of the session, after fresh remarks by Federal Reserve chair Jerome Powell reinforced bets on an October rate cut amid labour-market weakness.
However, stocks retreated as Trump said he was considering cutting some trade ties with China, including cooking oil.
His comments came after China's Commerce Ministry said it was banning dealings by Chinese companies with five US subsidiaries of South Korean shipbuilder Hanwha Ocean, escalating tensions with Washington over their alleged involvement in a probe into the Chinese shipping industry.
In the local market, Commonwealth Bank and Origin Energy are among the companies due to hold annual general meetings today. The Bank of Queensland is set to release its full-year financial results.
