Live updates: Australian share market to rise, Wall Street ends lower as investors sell tech
Meanwhile, the market awaited remarks from Federal Reserve officials at their Jackson Hole symposium on Friday for any clues on the economic outlook and monetary policy.
We will bring you the latest on what's happening on the markets throughout the day in our live blog.
Disclaimer: this blog is not intended as investment advice.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
8 minutes ago
- News.com.au
Closing Bell: ASX breaks through 9000 points for another trophy finish
ASX smashes records to close at intraday high of 9019 points Market shows impressive strength, with every sector and index moving higher Industrials sector a powerhouse of momentum It's over 9000!! The ASX is well and truly showing its strength, smashing records once again to close at an intraday and record high of 9019.1 points. It was a ripper of a day for the bourse, with every single sector and index flexing their muscles to lift the market 1.13%. The performance is even more impressive against a backdrop of losses on Wall Street overnight. The US S&P500 slipped 0.2% overnight and the Nasdaq 0.7%, signalling once again that Australian fortunes are diverging from America's. While today's performance was most certainly a group effort, we've got to give props to the Industrials sector's Herculean efforts today, adding 3.43%. That's as much as the sector's past two months of progress in a single day. Chemicals and materials middleman REDOX (ASX:RDX) surged 26%, joined by supply chain specialist Bramble (ASX:BXB), which shot up 11.95%. There were plenty of other full year result wins – over in consumer staples, family favourite Bega Cheese (ASX:BGA) added 7.4% while Super Retail Group (ASX:SUL) jumped 12.8%. Technology company Codan (ASX:CDA) lifted almost 11% while healthcare stock Telix Pharma (ASX:TLX) climbed 7.7%. There was also a near miss (à la CSL) for one technology heavyweight… Megaport CEO talks the talk Megaport (ASX:MP1) shares crashed out about 20% today on a pessimistic full-year report that predicted higher operating expenses and reduced earnings despite solid revenue growth. The numbers weren't actually that bad – MP1's FY25 results came in above expectations for the most part. Revenue lifted 16% on a constant currency basis, and the info tech company is predicting another 17% rise next year. The pain comes from ballooning operating expenses, forecast to rise 35% and undercut EBITDA by 25% in the FY26. It was enough to reverse months of share price progress, until CEO Michael Reid stepped into an investor call with just the right things to say. Consensus from that call appeared to indicate the chief exec did a good job explaining the company's forward strategy, discretionary investment, and how it's positioning for growth. Megaport shares reversed back into the positive during the call, ticking up about 1.6 cents at the time and ending the day down just 3.3% or 50c per share, a 17% recovery. Not a bad result from a single Q&A session. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap OMG OMG Group Limited 0.015 114% 81775130 $5,098,064 ASP Aspermont Limited 0.009 80% 1121082 $12,565,884 T3D 333D Limited 0.014 56% 544777 $1,699,684 EV1R Evolution Energy - Rights 0.003 50% 17250112 $290,120 JNS Janus Electric Holding 0.145 46% 3568662 $8,981,385 XGL Xamble Group Limited 0.03 43% 1907996 $7,119,299 TON Triton Min Ltd 0.007 40% 692484 $7,841,944 BPM BPM Minerals 0.085 39% 4935177 $5,325,320 AYA Artrya Limited 1.79 38% 4380670 $148,315,852 AQX Alice Queen Ltd 0.004 33% 1015121 $4,154,089 BMO Bastion Minerals 0.002 33% 265000 $3,307,430 OCT Octava Minerals 0.05 32% 12687446 $2,897,854 FNX Finexia Financial Grp 0.14 27% 250965 $6,853,436 TMB Tambourah Metals 0.059 26% 6358565 $7,777,374 ADG Adelong Gold Limited 0.005 25% 114894 $9,267,345 FBR FBR Ltd 0.005 25% 7303983 $23,665,031 MOH Moho Resources 0.005 25% 350000 $2,981,656 TKL Traka Resources 0.0025 25% 15000 $6,055,348 CC9 Chariot Corporation 0.078 24% 307439 $9,771,537 RDX Redox Limited 2.6 24% 5052565 $1,102,670,999 GED Golden Deeps 0.043 23% 5532578 $6,199,400 RAD Radiopharm 0.03 22% 46600598 $57,941,263 PR2 Piche Resources 0.14 22% 362906 $9,601,270 HMY Harmoney Corp Ltd 0.79 22% 951145 $67,636,864 CVB Curvebeam Ai Limited 0.175 21% 899520 $47,294,034 In the news… OMG Group (ASX:OMG) will almost double the number of Woolies stores stocking its Barista Oat Milk product, jumping from 544 stores to 900 in a strong vote of confidence from the largest grocery retailer in Australia. The move follows a series of recent onboarding deals with petrol and convenience chains, including 7-11, Quikstop and Canteen One. Digital asset management company 333D (ASX:T3D) is riding the Bitcoin wave, pulling in $1 million in customer cash receipts in FY25, a more than 400% increase compared to just under $200k in FY24. The company also locked in service agreements with healthcare providers Align Radiology and Next Healthcare, agreeing to manage software development, digital management and 3D printing services. Janus Electric (ASX:JNS) is pushing into African markets, inking an MoU with EVUNI Pte Ltd for exclusive distribution and deployment of Janus' technology on the continent. The deal includes a principal investment of up to $5 million by EVUNI, in exchange for up to 25m ordinary JNS shares. Janus will allocate a minimum of 250 electric drivetrain conversion modules per year to EVUNI for the duration of the five-year contract, with an option to renew for a further five years. Artrya (ASX:AYA) has gotten the 501(k) green light from the US FDA for its proprietary Salix® Coronary Plaque module, a cloud platform designed for near-real time, point of care assessment and management of coronary artery disease. Achieving the milestone means AYA can now charge a fee per scan assessed with Salix, with customers receiving an reimbursement rate of US$950 for each assessment. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap KLR Kaili Resources Ltd 0.19 -82% 9974703 $159,192,392 PPY Papyrus Australia 0.015 -53% 8001371 $19,292,215 SFG Seafarms Group Ltd 0.001 -50% 467718 $9,673,198 ASR Asra Minerals Ltd 0.0015 -40% 41624585 $10,000,495 CZN Corazon Ltd 0.002 -33% 750000 $3,703,717 PRX Prodigy Gold NL 0.002 -33% 680333 $20,225,588 C7A Clara Resources 0.003 -25% 6137 $2,973,180 CHM Chimeric Therapeutic 0.003 -25% 1597558 $13,018,235 HLX Helix Resources 0.0015 -25% 2203333 $6,728,387 ICU Investor Centre Ltd 0.0015 -25% 480 $609,023 ECTDC Env Clean Tech Ltd. 0.047 -22% 66680 $16,061,742 DTM Dart Mining NL 0.002 -20% 2475086 $2,995,139 WEL Winchester Energy 0.002 -20% 49068 $3,407,547 IPH IPH Limited 4.5 -19% 13650655 $1,456,442,928 LML Lincoln Minerals 0.009 -18% 1249950 $23,403,267 OEC Orbital Corp Limited 0.255 -18% 2101304 $51,081,712 GRL Godolphin Resources 0.014 -18% 4955668 $7,630,846 MGTRG Magnetite Mines 0.025 -17% 285146 $1,225,577 AZI Altamin Limited 0.02 -17% 10567 $13,788,069 HHR Hartshead Resources 0.005 -17% 2842484 $16,852,093 OVT Ovanti Limited 0.01 -17% 78388420 $51,291,883 RC1 Redcastle Resources 0.01 -17% 5486137 $8,922,803 SPQ Superior Resources 0.005 -17% 20000 $14,225,896 VEN Vintage Energy 0.005 -17% 4623198 $12,521,482 RAU Resouro Strategic 0.195 -15% 25800 $11,013,256 In Case You Missed It LinQ Minerals (ASX:LNQ) says a combination of geochemical, gravity and drilling data points to potentially sizeable porphyry system at Gidginbung. Diablo Resources (ASX:DBO) is progressing drilling the Trenton and Philadelphia prospects at Phoenix in Utah, hunting for copper in the US. Nimy Resources' (ASX:NIM) hunt for the elusive copper-nickel source at Masson has taken a compelling twist with the discovery of three conductive plates. Metallium (ASX:MTM) has secured exclusive options to lease two additional sites in the US for its electronic waste processing operations. Octava Minerals (ASX:OCT) has released strong bio-leaching recovery rates for rare earths and lithium from its Byro project in WA. Hillgrove Resources' (ASX:HGO) drill results indicate the new Saddle Zone at its Kanmantoo copper mine in South Australia is part of a larger mineralised system. Sipa Resources (ASX:SRI) has completed a crucial heritage survey at its Crown gold project in WA to get into maiden drilling. Kingsland Minerals (ASX:KNG) has hit a significant milestone after metallurgical testing of its Leliyn project returned outstanding results with purified spherical graphite grading 99.97% carbon. Trading halts
ABC News
25 minutes ago
- ABC News
Sizzle or fizzle? The verdict on the Roundtable
It's been a big week in Canberra, with unions, business leaders, and politicians of all stripes descending on Parliament House for the Economic Reform Roundtable. The vibe? 'Optimistic' and 'open' - no one wanted to be the spoiler, and everyone wanted to avoid 'regulatory hairballs,' to quote Productivity Commissioner Danielle Wood. But as the meetings wrap up, the real test begins: which ideas will turn into actual policy? Also this week, Australia's decision to recognise Palestinian statehood continues to reshape our foreign policy landscape. Diplomatic tensions with Israel are still simmering - but in the same week, Australia is also engaging in efforts to strengthen the rules-based international order, aligning itself with the Western response to the historic meeting between Vladimir Putin and Donald Trump, and Donald Trump and Volodymyr Zelenskyy. Patricia Karvelas and Melissa Clarke are joined by Guardian Australia's Chief Political Correspondent Tom McIlroy to break down on The Party Room. Got a burning question? Got a burning political query? Send a short voice recording to PK and Mel for Question Time at thepartyroom@
News.com.au
28 minutes ago
- News.com.au
Apprentice butcher saves half his pay, buys first home at 18
An apprentice butcher who saved half his wages for four years has bought his first home aged 18. Lachlan James, of Holland Park, paid $575,000 for a three-bedroom unit in Zillmere in Brisbane's north, just one year after finishing high school. The savvy teen started working in the family business, Carina North Quality Meats, aged 14, saving between $450 to $500 a week, while living at home with parents, Michael and Sherry and his younger siblings, Charlotte and Jack. NRL player Billy Walters' massive payday Now earning $900 a week as a first-year apprentice, he used the $33,000 he saved to cover stamp duty on the unit, which is rented out at $580. 'My dad always said to me, 'save half your wage'. I wanted to get ahead in life and start building financial security,' Mr James said. 'The rent pays for most of the loan, then I chip in about $200 a week. 'Mum said I have to stay at home until I'm 25 – that's all right by me. 'I'll keep saving but I still go out mostly every weekend. I give myself about $150 to spend, if that.' Mr James' path to homeownership was fast-tracked when he attended a financial literacy workshop run by broker George Samios, of Madd Loans, while in grade 12 at Villanova College in 2024. 'I reached to George and said, 'how can I buy a property?' and we made a plan to make it happen,' he said. Mr Samios secured finance for an investment purchase through a family-guaranteed loan with the Commonwealth Bank. No deposit was required, with all Mr James' savings going towards stamp duty on the property. The loan was split into two – 80 per cent of it was held by the teen, while mum and dad used equity from the family home to guarantee the remaining 20 per cent. 'The government grants for first-home buyers are really good, but they require you to live in the property and that limits how much you can borrow,' Mr Samios said. 'When we worked the numbers with Lachy, he couldn't get into the market that way. 'With an investment property, the rental income boosts your boorowing capacity and that was what he needed.' After a month-long search, Mr James settled on a unit in the growth market of Zillmere, where apartment prices have surged about 20 per cent over the past 12 months to a median of $610,000, according to PropTrack. Typical rental yield in the suburb is 4.6 per cent, with 1410 buyers interested in every unit listed for sale. Mr Samios said it was 'easier than you think' to buy your first home with the right support. 'For everyone saying people in Brisbane can't buy a property in 2025, here is the real-life proof. 'Lachy's father Michael is a hard worker and he's big on his son saving money. The kid works six days a week and is the youngest buyer I've ever had – and our business has settled over $2b in loans.'
