ASX ekes out gains on Trump's latest move
Cautious investors helped drive the Australian sharemarket higher on the back of a retreat in US treasury yields and low trading volumes.
The benchmark ASX200 index finished slightly higher, up 12.20 points or 0.15 per cent to finish the week up 8,360.90.
Meanwhile, the broader All Ordinaries also finished in the green up 15.30 points or 0.18 per cent to 8,586.70.
The Aussie dollar is trading around US64.34c.
On Wall Street overnight, there was a sizeable reversal in the US10-year yield which helped drive the overseas market higher.
This helped drive a mixed day on the Australian market.
Six sectors finished in the green, while five fell, with the gains led by information technology and energy stocks.
WiseTech jumped 1.33 per cent to $100.05, while it was a good day for Technology One Limited, up 1.61 per cent to $38.61 and Life360 which grew 1.08 per cent to $31.56.
It was also a strong day for the financial sector, with all four major banks rising during Friday's trading.
Commonwealth Bank jumped 0.65 per cent to $173.84, while NAB was up 0.88 per cent to $37.70, ANZ finished 0.76 per cent higher at $29.07 and Westpac eked out a gain up 0.064 per cent to $31.24.
Meanwhile the nuclear energy sectors were the major winners driving the energy sector.
Boss Energy was the best performing share on the local bourse surging 12.12 per cent to $3.98 while Deep Yellow jumped 8.260 per cent to $1.24 and Paladin Energy finished 6.654 per cent higher to $5.77.
The surge in uranium stocks came on the back of the latest White House executive order aimed at jump-starting the nuclear energy industry.
Moomoo market strategist Jessica Amir said the Australian uranium players grew despite not having direct exposure to the US market.
'The companies that are operating in Australia aren't really selling to the US, but a rising tide lifts all boats,' Ms Amir said.
'It doesn't necessarily mean that they're going to be beneficiaries of what he's announced, but I will say we need to consider who the biggest companies in this space are … including Constellation Energy and Vistra.'
Despite the overall jump in shares, Ms Amir said it was many defensive sectors including gold miners that were helping to drive the ASX on Friday.
'The theme of the week is government debt and of course the White House is closer to passing the 'big beautiful Bill', which potentially will see them increase the debt limit while also cutting taxes,' she said.
In corporate news, shares in Origin Energy fell 1.1 per cent to $11.05 after flagging LNG price cuts which will impact future profitability.
Shares in retailer Myer leapt 5.41 per cent to $0.78 on Friday after the department store owner reported growth in its own stores, while its newly acquired Apparel Brands from Premier Investment saw revenue slide.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
an hour ago
- News.com.au
‘Living off scraps': 21-year-old wants pay norm banned
A fired-up Gen Zer has declared being paid fortnightly in Australia should be straight-up 'banned' because she finds it difficult to manage her salary. Ren Adelina, 21, has amassed over 700,000 views on TikTok by declaring she's unhappy with a fortnightly pay cycle. 'Getting paid fortnightly needs to be genuinely banned,' she said. 'One week I am so rich, I am so rich! The next week … I am living off genuine scraps.' According to the Australian Bureau of Statistics, fortnightly is the most common pay cycle for Aussie workers, followed by weekly and then monthly. Speaking to Ms Adelina reiterated her position and said she'd much prefer to be paid more frequently. 'I think it should be banned because for us Gen Zers we were never taught how to manage money properly,' she said. 'Getting a huge influx of money at once, of course, we are going to get excited and are going to blow it all on food, shopping, outings, etc.' Ms Adelina said the problem with that is that once it is gone, it is gone, and then she's got to hang out for another gruelling seven days. 'Then, after we spend it all, there is none left for the next week. Maybe I just have a shopping addiction,' she said. The 21-year-old doesn't just want to ban fortnightly pay with no other solution. She's got plans. 'I believe we should get paid weekly instead as it provides more frequent income, making it easier to manage all expenses. I think it also simplifies budgeting,' she said. Ms Adelina's suggestion of banning fortnightly pay quickly took a turn when people on the internet broke the news to her that some people get paid … monthly. One warned, 'Wait until you get paid monthly.' The 21-year-old replied, 'Stop, that is so scary!' Someone else chimed in and said getting paid monthly is 'criminal' and another demanded to know what professions get paid monthly so they can avoid them. The commentator quickly discovered that monthly pay isn't specific to one industry. Everyone, from childcare workers to tradies, get paid monthly. It is just up to the employer's discretion. The comment section quickly became populated by workers getting paid monthly who argued that fortnightly wasn't so bad in comparison. 'Babe, I'm counting my coins on monthly pay,' one said. 'Monthly is horrendous,' another shared. 'I get paid monthly. You got lucky,' someone claimed. 'Every adult I know gets paid monthly. Budgeting is hard,' another worker shared. 'Fortnightly isn't bad. Wait until you see monthly,' one warned. 'I applaud those who can wait a whole month. I can't even do two weeks,' someone else shared. Quite a few people also suggested to the 21-year-old that it wasn't how frequently she was getting paid but rather how she managed her money. 'Just budget. It really is not that difficult. I love getting paid fortnightly,' one shared. 'Not knowing how to budget should be banned,' another joked. 'I get paid fortnightly, and when you get paid, literally just split it in half and put it aside in another account until the following week,' someone else said.
Sky News AU
9 hours ago
- Sky News AU
Australian public were not ‘buying' what the Coalition was ‘offering'
Shadow Treasurer Ted O'Brien says the Coalition will learn 'a hell of a lot of lessons' from their failed federal election campaign. The national accounts this week revealed quarterly economic growth of just 0.2 per cent, with GDP per capita and productivity continuing to go backwards. 'When you look at what a dreadful job the Albanese government has been doing, we should have landed harder blows,' Mr O'Brien said. 'What we were offering, the Australian people, they weren't buying – we have got to be candid and upfront about that.'
The Advertiser
9 hours ago
- The Advertiser
Hyundai expects an exodus of brands due to new Australian emissions regulations
Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand," said Mr Romano. "They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. "I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results." Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. "Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs," he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. "What the government is doing is half-baked," he concluded. "They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. "If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. "Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. "The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy." Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year. MORE: Everything Hyundai MORE: How Hyundai Australia's new boss plans to reverse Korean brand's sales slide Content originally sourced from: Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand," said Mr Romano. "They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. "I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results." Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. "Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs," he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. "What the government is doing is half-baked," he concluded. "They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. "If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. "Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. "The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy." Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year. MORE: Everything Hyundai MORE: How Hyundai Australia's new boss plans to reverse Korean brand's sales slide Content originally sourced from: Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand," said Mr Romano. "They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. "I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results." Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. "Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs," he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. "What the government is doing is half-baked," he concluded. "They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. "If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. "Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. "The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy." Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year. MORE: Everything Hyundai MORE: How Hyundai Australia's new boss plans to reverse Korean brand's sales slide Content originally sourced from: Australia's stringent new vehicle emissions regulations are set to send a host of auto brands running from these shores, according to local Hyundai chief Don Romano. The ink officially dried on the federal government's New Vehicle Efficiency Standard (NVES) at the start of this year, bringing with it legislation designed to reduce the carbon footprint of the Australian car market. While the NVES came into effect on January 1, 2025, penalties won't start being accrued until July 1. The recent federal election brought with it some uncertainty about the NVES, with former Liberal leader Peter Dutton promising to scrap the legislation. However, in the wake of Labor's win led by Anthony Albanese, there's no longer any doubt about whether it will be enforced. Speaking to CarExpert at the launch of the pint-size Hyundai Inster electric SUV, Mr Romano said that many automakers will be caught off guard by the punitive new regulations. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. "When it comes down to NVES, there's going to be a lot of brands that are going to start falling apart because they're burying their heads in the sand," said Mr Romano. "They're not doing the math, they're not looking at just how much this is going to cost them to stay in business in Australia. "I think you're going to see an exodus. You're going to see a number of brands that finally say 'I can't do it', unless the government that we just re-elected makes the decision to go in a different direction, which I think is unlikely given the election results." Hyundai has backed the NVES from early in the piece, expressing confidence in meeting the Australian Government's tightening CO2 targets between 2025 and 2029. However, some of its rivals have been less supportive and others including Toyota have indicated that fines would ultimately be passed onto consumers in the form of price hikes. Having taken over as Hyundai Australia CEO just a few months ago, Mr Romano will lead the brand in its response to NVES with a focus on electric vehicles (EVs) and other 'future energy' initiatives. "Let's do it like Europe, [where] they're just going, 'okay, we've got to live with it, let's deal with it'. And guess what we're seeing right now in Europe? A resurgence in EVs," he said. While Hyundai is prepared to tackle tightening emissions regulations, Mr Romano still sees significant room for improvement in how policy is used to accelerate the transition towards greener forms of transport. "What the government is doing is half-baked," he concluded. "They're pushing us to move to BEVs, only us. What they're missing, not just in Australia but everywhere, is the fact that the gas [petroleum] companies aren't being pushed to put in the charging infrastructure. "If you were to do that, I think that resurgence would push even higher. Right now we're at 20 per cent BEVs in Europe, with a much more robust charging infrastructure. "Once you start doing that, then you start getting economies of scale, and then all the costs start to come down. At that point you're going to see all the advantages of BEVs, and they'll be less expensive ultimately than an ICE vehicle. "The only way to get there… is to have a more robust charging infrastructure that engenders a lot of confidence in buyers to buy." Less than one in 10 vehicles sold in Australia last year were EVs (91,292 of more than 1.22 million), although that number was up 4.7 per cent on the previous year. MORE: Everything Hyundai MORE: How Hyundai Australia's new boss plans to reverse Korean brand's sales slide Content originally sourced from:
