The Australian sharemarket continued its record-breaking performance on Thursday, driven by a resurgence in technology stocks after weeks of selling pressure. The S&P/ASX 200 Index climbed 51.20 points, a 0.6 per cent increase, reaching 9179.60 by early afternoon, after peaking at an intraday high of 9202.90. This follows Wednesday’s record close of 9128.30.
Technology stocks led the charge, fueled by strong results from Nvidia, the chip giant, which reported record revenue for the fourth quarter. Locally, WiseTech Global, a software company focused on global logistics solutions, jumped 3.2 per cent. Xero, which provides cloud-based accounting software, soared 7.5 per cent, and TechnologyOne advanced by 4.5 per cent. The healthcare sector also contributed to the positive sentiment, with Pro Medicus rallying 8.4 per cent. Sigma Healthcare also saw gains, increasing by 3.5 per cent, while Ramsay Health Care surged 8.8 per cent after exceeding profit expectations with an underlying profit of $172 million.
In company-specific news, IDP Education skyrocketed 13.2 per cent following analyst-beating first-half results and an increased full-year earnings forecast. Conversely, Cettire plunged 23.3 per cent after reporting a net loss. Qantas dived 9.3 per cent to a two-month low on concerns about demand after its interim dividend and profit missed expectations. Worley plummeted 10.8 per cent as the engineering group announced restructuring due to project cancellations and reported a significant drop in interim net profit.
Other notable movements included DroneShield, which rallied 9.7 per cent after securing substantial military contracts, and Super Retail Group, which advanced 8.2 per cent despite a profit decline. oOh!media announced a share buyback, boosting its stock by 3.9 per cent, while Boss Energy fell 2.3 per cent despite reducing cost guidance. Perpetual climbed 7 per cent as its first-half earnings exceeded forecasts.
