ASX opens sharply higher; Credit Corp jumps on FY result as Telix sinks
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More news: Australian shares surged at the open, with all 11 sectoral indices in positive territory. The benchmark S&P/ASX 200 index was up 74 points, or 0.85%, to 8,737.7 at 10:30am AEST.
Tech stocks were the best performers, adding 1.7%, as Life360 (+2.1%), NextDC (+2%) WiseTech Global (+1.7%) all advanced.
Debt collector Credit Corp was the best performing company on the ASX 200, jumping 12.9% after reporting a rise in full-year profit and an improved dividend.
Telix Pharmaceuticals was the worst performer, shedding 18.6% after flagging higher operating expenditure for the first half of 2025.
Australian shares to open higher as big tech drives Wall Street rebound
The news: Australian shares are set to open sharply higher after Wall Street stocks rebounded from Friday's slump, driven by a surge in tech megacaps Nvidia and Meta Platforms.
The numbers: Updated at 7:30am AEST:
- ASX futures: up 86 points, or 0.99% to 8,701 points
- Wall Street: Dow Jones up 1.34%, S&P 500 up 1.47% and Nasdaq up 1.95%
- Europe: CAC 40 up 1.14%, DAX up 1.42% and FTSE 100 up 0.66%
- Spot gold: up 0.30% to USD3,374 per ounce
- Oil prices: Brent down 0.19% to USD68.63/bbl and US WTI down 1.62% to USD66.22/bbl
- AUD: up 0.02% to 64.75 US cents
- Bitcoin: up 0.15% to USD114,991.
The context: Wall Street stocks more than recovered losses from Friday as the S&P 500 saw its best day since May. Tech giants Nvidia and Meta Platforms each added more than 3.5%, while Alphabet (+3.1%), Microsoft (+2.2%) and Tesla (+2.2%) also gained.
In the local market, debt collector Credit Corp is due to release its annual results this morning. The Australian Bureau of Statistics will publish its monthly household spending indicator for June at 11:30am AEST.
