Industry News

ASX rebounds 1.4%: CBA hits all-time high

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Update time : 2024-06-26 15:45:58

Australian shares climbed across the board on Tuesday, with the S&P/ASX 200 Index rebounding 1.4%, its biggest one-day gain since mid-May, nearing its record high. Commonwealth Bank reached an all-time high, contributing to the overall positive market sentiment, alongside strong performances from energy stocks like Woodside and Santos due to higher oil prices. The materials sector also saw significant gains, with BHP and Rio Tinto advancing as iron ore prices rebounded. In corporate news, Collins Foods' shares surged on record revenue and profits, while Synlait Milk plummeted on insolvency fears. Meanwhile, Wall Street's rally, particularly in financial and real estate sectors, contrasted with Nvidia's continued decline.

Futures

The Dow Jones futures are pointing to a rise of 42 points.

The S&P 500 futures are pointing to a rise of 3.25 points.

The Nasdaq futures are pointing to a rise of 28.75 points.

The SPI futures are up 103 points.

Best and worst performers

The best-performing sector was Energy, up 2.23 per cent. The worst-performing sector was Information Technology, UP 0.32 per cent.

The best-performing large cap was James Hardie Industries plc (ASX:JHX), closing 4.57 per cent higher at $49.61. It was followed by shares in Woodside Energy Group (ASX:WDS) and Telix Pharmaceuticals (ASX:TLX).

The worst-performing large cap was Mercury NZ (ASX:MCY), closing 3.41 per cent lower at $5.94. It was followed by shares in Meridian Energy (ASX:MEZ) and GQG Partners (ASX:GQG).

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