The Australian sharemarket surged to its highest point since October, propelled by robust gains in the banking and technology sectors. The S&P/ASX 200 Index increased by 0.5 per cent, or 46.3 points, reaching 8908 by mid-afternoon trade. Intraday, the index peaked at 8915.50, marking its highest level since October 30. The benchmark is up 1.7 per cent for the week. The technology sector led the gains, fuelled by Taiwan Semiconductor Manufacturing’s strong results, reigniting interest in artificial intelligence.
Among individual stocks, NextDC, a data centre player, rose 3.2 per cent, Life360 gained 2.9 per cent, and WiseTech Global increased by 1.3 per cent. Major banks also contributed to the positive sentiment, with ANZ up 0.7 per cent, National Australia Bank rising 1 per cent, Commonwealth Bank increasing 1.1 per cent, and Westpac gaining 2.1 per cent. In the resources sector, Capstone Copper was among the top performers, surging 7.8 per cent after achieving its annual copper production guidance for 2025, delivering a record 224,764 tonnes.
Uranium stocks also experienced gains, with Deep Yellow firming 6.5 per cent and Paladin increasing by 4.6 per cent. Catalyst Metals jumped 11.7 per cent following record quarterly production from its Plutonic operations. Elsewhere, IperionX, a company focused on sustainable titanium production using innovative technologies, rose 4.2 per cent after the US Department of Defence completed a payment related to a prior award. Qube, a provider of integrated logistics solutions, increased 0.8 per cent after receiving confirmation from Macquarie Asset Management regarding an exclusivity deed.
