Lending Association

ASX closes 0.1% higher: Mining and Utilities rally

Australian shares experienced a subdued session, with the S&P/ASX 200 index edging up 0.1 percent, driven by a rally in the mining and utilities sectors, while health sector stocks, notably Nanosonics, saw significant declines. Additionally, news of a potential $3.5 billion merger between BWP Trust and Newmark Property REIT had mixed effects on their respective stock prices, with BWP Trust falling 2 percent and Newmark Property REIT surging 36.6 percent after the merger agreement was announced.

Futures

The Dow Jones futures are pointing to a rise of 14 points.

The S&P 500 futures are pointing to a rise of 10.25 points.

The Nasdaq futures are pointing to a rise of 61.5 points.

The SPI futures are down 1 point.

Best and worst performers

The best-performing sector was Materials, up 1.31 per cent. The worst-performing sector was Information Technology, down 1.15 per cent.

The best-performing large cap was Northern Star Resources (ASX:NST), closing 6.04 per cent higher at $12.81. It was followed by shares in Pilbara Minerals (ASX:PLS) and Lynas Rare Earths (ASX:LYC).

The worst-performing large cap was IDP Education (ASX:IEL), closing 3.13 per cent lower at $20.12. It was followed by shares in James Hardie Industries plc (ASX:JHX) and Treasury Wine Estates (ASX:TWE).

Asian markets

Japan’s Nikkei has lost 0.97 per cent.

Hong Kong’s Hang Seng has gained 0.64 per cent.

China’s Shanghai Composite has gained 0.43 per cent.

Commodities and the dollar

Gold is trading at US$2,025.20 an ounce.

Iron ore is 2.2 per cent higher at US$132.35 a tonne.

Iron ore futures are pointing to a 0.83 per cent rise.

Light crude is trading $0.14 lower at US$74.23 a barrel.

One Australian dollar is buying 65.66 US cents.