Australian Stocks Climb as Financials, A-REITs, and Utilities Lead Gains

Australian Stocks Reach New All-Time High Amid Sectoral Gains

Key Points:

  • The Australian stock market closed higher. The S&P/ASX 200 rose by 0.77%, led by gains in the financials, A-REITs, and utilities sectors.
  • Pointsbet Holdings Ltd (ASX: PBH), Healius Ltd (ASX: HLS), and Austal Ltd (ASX: ASB) were among the top performers.
  • Silver Lake Resources Ltd (ASX: SLR), Clinuvel Pharmaceuticals Ltd (ASX: CUV), and St Barbara Ltd (ASX: SBM) were among the worst performers.
  • Falling stocks outnumbered advancing ones by 619 to 571, with 473 ending unchanged. The S&P/ASX 200 VIX decreased by 1.50%.

Australian stock market closed higher on Monday, buoyed by significant gains in the Financials, A-REITs, and Utilities sectors. At the close in Sydney, the S&P/ASX 200 rose by 0.77% or 59.30 to 7,761.00, continuing its upward trend.

The session’s standout performer was Pointsbet Holdings Ltd (ASX: PBH), which surged 7.00% or 0.035 points to close at 0.54, marking a 52-week high for the company. Healius Ltd (ASX: HLS) also posted notable gains, rising 4.72% or 0.06 points to 1.33. Austal Ltd (ASX: ASB) rounded out the top three performers, climbing 3.77% or 0.09 points to 2.48 in late trading.

Conversely, Silver Lake Resources Ltd (ASX: SLR) was the session’s worst performer, dropping 5.54% or 0.085 points to trade at 1.45 at the close. Clinuvel Pharmaceuticals Ltd (ASX: CUV) followed closely, declining 4.65% or 0.74 points to end at 15.16. St Barbara Ltd (ASX: SBM) also experienced a notable decline, falling 4.26% or 0.01 points to 0.22.

Despite the gains, falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 619 to 571, with 473 ending unchanged. This mixed market breadth indicates that while major indices posted gains, the overall sentiment remains cautious. The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, decreased by 1.50% or 0.17 to 11.36, suggesting a reduction in market volatility and investor anxiety.

In the commodities market, Gold Futures for August delivery fell by 0.43% or 10.10 to $2,335.70 a troy ounce, reflecting a minor correction after recent gains. Crude oil for July delivery also dipped, falling 0.42% or 0.32 to $76.67 a barrel. The August Brent oil contract declined by 0.44% or 0.36 to trade at $80.75 a barrel.

AUD/USD was relatively unchanged in the currency market, up 0.17% to 0.66, while AUD/JPY fell slightly by 0.10% to 104.44. The US Dollar Index Futures were down marginally by 0.03% at 104.60, indicating a stable currency market.

EDITORIAL TEAM
EDITORIAL TEAM
TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

Read More

We are highly passionate and dedicated to delivering our readers the latest information and insights into technology innovation and trends. Our mission is to help understand industry professionals and enthusiasts about the complexities of technology and the latest advancements.

Follow Us

Advertise Here...

Build brand awareness across our network!