ASX rebounds 1.4%: CBA hits all-time high

Market Reports

by Peter Milios

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.


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).

Asian markets

Japan's Nikkei has gained 0.95 per cent.

Hong Kong's Hang Seng has gained 0.02 per cent.

China's Shanghai Composite has lost -0.75 per cent.

Commodities and the dollar

Gold is trading at US$2,337.30 an ounce.

Iron ore is -2.3 per cent lower at US$102.65 a tonne.

Iron ore futures are pointing to a 0.24 per cent rise.

Light crude is trading $0.01 higher at US$81.64 a barrel.

One Australian dollar is buying 66.63 US cents.

Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

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