ASX rallies 0.55% as Energy outperforms

Market Reports

by Peter Milios

The Energy sector demonstrated strong growth, with a rally of 1.7%. Ampol (ASX:ALD) experienced a significant surge of 4.4% following robust fuel sale volumes reported for the first half of the financial year 2023.

Woodside Petroleum (ASX:WPL) climbed 1.4% despite a 29% drop in revenue during the second quarter, amounting to $US3.1 billion (A$4.5 billion).

Whitehaven Coal (ASX:WHC) advanced by 2.8%, and Santos (ASX:STO) recorded a 1.6% increase.

At the closing bell, the S&P/ASX 200 was 0.55 per cent higher at 7,323.70.


The Dow Jones futures are pointing to a rise of 31 points.

The S&P 500 futures are pointing to a rise of 1 point.

The Nasdaq futures are pointing to a rise of 5.5 points.

The SPI futures are up 45 points.

Best and worst performers

The best-performing sector was Energy, up 1.70 per cent. The worst-performing sector was Materials, down 0.56 per cent.

The best-performing large cap was Ampol (ASX:ALD), closing 4.36 per cent higher at $31.14. It was followed by shares in Endeavour Group (ASX:EDV) and Yancoal Australia (ASX:YAL).

The worst-performing large cap was Northern Star Resources (ASX:NST), closing 5.83 per cent lower at $12.59. It was followed by shares in Meridian Energy (ASX:MEZ) and Medibank Private (ASX:MPL).

Asian markets

Japan's Nikkei has gained 1.24 per cent.

Hong Kong's Hang Seng has lost 0.40 per cent.

China's Shanghai Composite has gained 0.76 per cent.

Company news

ImpediMed (ASX:IPD) are the first top 5 national payor covering SOZO testing for cancer patients at risk for lymphoedema. In response, CEO and MD Richard Valencia said, ”Cigna’s policy provides access to coverage for all individuals at risk of developing limb lymphoedema without prior authorisation and impacts all 50 states.” Shares closed 21.6 per cent higher at 22.5 cents.

Imugene (ASX:IMU) announced that their core US patent has been allowed. In response, MD & CEO Leslie Chong said: “with the US being the largest healthcare market in the world, this is a particularly important patent milestone.” Shares closed 12.9 per cent higher at 10.5 cents.

Brightstar Resources (ASX:BTR) announced that drilling at their Menzies Gold Project has returned multiple high grades of gold. In response, MD, Alex Rovira, commented, “This program has targeted areas of higher grades that have the potential to form possible ‘early-stage’ mining opportunities and for JORC mineral resource growth.” Shares closed 9.1 per cent higher at 1.2 cents.

Commodities and the dollar

Gold is trading at US$1,982.30 an ounce.

Iron ore IS 0.7 per cent higher at US$115.85 a tonne.

Iron ore futures are pointing to a 1 per cent fall.

Light crude is trading $0.06 lower at US$75.69 a barrel.

One Australian dollar is buying 67.86 US cents.

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