Australian shares edge higher at end of financial year
Just before noon AEST on Monday, the benchmark S&P/ASX200 index was up 18.5 points, or 0.22 per cent, to 7,532.7, while the broader All Ordinaries gained 18.6 points, or 0.21 per cent, to 8,762.2.
With a few hours of trading left in 2024/25, the ASX200 was up 10.1 per cent since July 1, 2024 - or just under 14 per cent on a gross return basis, including dividends.
The ASX200 was also up 1.18 per cent for the month, 8.81 per cent for the June quarter and 4.6 per cent so far in 2025.
Pepperstone head of research Chris Weston said while not everything went the bull's way last week, the momentum and trends seen in risk markets portrayed an almost nirvana environment in which to operate.
The S&P500 printed its fourth all-time high on Friday as did the Nasdaq 100 amid a rapid reduction to geopolitical risk premiums, talk of 10 imminent trade deals with the United States and a dovish tilt by various Federal Reserve officials.
At midday, eight of the ASX's 11 sectors were higher, with energy and materials lower and consumer staples flat.
The consumer discretionary and technology sectors were the biggest winners, both rising 0.9 per cent.
JB Hi-Fi had climbed 1.9 per cent to an all-time high of $110.66, Guzman Y Gomez was up 2.9 per cent to $28.285 and data centre operator Nextdc had added 2.7 per cent to $14.575.
The big four banks were mixed, with Westpac up 0.6 per cent and NAB adding 0.8 per cent, while ANZ was flat and CBA had edged 0.1 per cent lower.
The material sector was down 1.2 per cent after a strong performance on Friday, with BHP dropping 2.3 per cent, Fortescue declining 1.9 per cent and Rio Tinto dipping 2.2 per cent.
The Star was up 1.7 per cent despite its Hong Kong joint venture partners threatening to walk away from a deal to purchase Star's half-stake in Brisbane's Wharf casino and hotel complex.
The Australian dollar was buying 65.35 US cents, from 65.50 US cents on Friday.
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