Gold record, Goodman deal power ASX as Santa rally rolls on
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The news: The Australian sharemarket extended its Santa Claus rally for a second session, with the ASX 200 hitting fresh highs as gold surged to a record $US4,480 an ounce and data centre deals boosted real estate stocks.
The benchmark ASX 200 advanced 1.1% to 8,795.70, building on Monday's 0.9% gain to reach its highest level since mid-November.
All 11 sectors finished in the green, led by real estate on the back of Goodman Group's 8.3% leap to $31.63 after it signed a $14 billion European data centre partnership. Technology tracked strong gains on Wall Street as WiseTech Global (+2.3%) and NextDC (+1.2%) advanced.
The big miners gained as copper traded at record levels, with BHP (+1.3%) and Rio Tinto (+1.3%) both higher. Gold miners were mixed despite bullion's record — Northern Star (-0.6%) and Perseus (-1.6%) slipped, but Newmont bounced 1.2%.
Biggest movers:
- Goodman Group (+8.5%) – Announced a $14 billion data centre partnership with Canada Pension Plan Investment Board, with 50/50 ownership of four European projects totalling 435 MW of primary power.
- Electro Optic Systems (+7.6%) – Secured a $33 million contract with General Dynamics Land Systems to deliver remote weapon systems for a major US Army ground combat vehicle, marking its entry into the US market.
Other news:
- Scentre Group – Announced Australian Retirement Trust will purchase a 19.9% stake in Westfield Sydney for $864 million, with settlement expected in early February.
- Ramsay Health Care – Agreed to buy National Capital Hospital from Healthscope for $251 million, subject to ACCC approval. The Canberra hospital has 148 beds and is expected to be EPS accretive in the first 12 months.
- The Reserve Bank – December's meeting minutes revealed board members discussing circumstances in which a rate hike might be considered in 2026. Goldman Sachs economists warned a February rate rise is a "material risk" should inflation surprise to the upside again.
What's ahead:
- The US will release second estimate GDP growth for Q3 (consensus 3.2%), durable goods orders for October, and CB consumer confidence for December on Wednesday.
- The Bank of Japan will release minutes from its monetary policy meeting.
- China's National People's Congress Standing Committee meets.
