ASX ends higher, led by energy and tech stocks; Macquarie, Aristocrat shares fall
Welcome to your five-minute recap of the trading day.
The numbers
The Australian sharemarket swung into the green in afternoon trading, sent higher by energy and tech stocks, which more than made up for losses from big names such as Macquarie Group and Aristocrat that had kept the market in negative territory for most of the session.
The S&P/ASX 200 finished up 10.6 points, or 0.1 per cent, at 8279.6, rising for its sixth session in a row. Six of its 11 industry sectors advanced, with tech and energy stocks the big winners. Their gains were countered by falls in consumer stocks and utilities. The Australian dollar was flat at US64.71¢.
The lifters
Tech stocks yet again followed their peers in the US, where chipmakers were leading a rally after AI giants Nvidia and Advanced Micro Devices said they would supply semiconductors for a massive data-centre project in Saudi Arabia. The ASX tech sector rose 1 per cent, led by family member tracking app Life360, which soared a further 9.5 per cent after reporting huge sales growth this week.
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The iron ore heavyweights also extended their recent gains amid hopes for easing global trade tensions since the US and China on Monday announced a 90-day truce in their trade war and agreed to temporarily reduce tariffs on each other's goods.
BHP, the world's largest miner, rose 0.6 per cent. Its CEO Mike Henry told a global mining conference overnight that the mining titan was well-positioned to navigate its way through the uncertainty created by Trump's trade wars. Rio Tinto added 0.5 per cent and Fortescue climbed 2.2 per cent.
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