Aussie markets closed out a stellar week on a calmer note into the weekend, with the ASX 200 dipping 0.09% to 9,263.60 and the All Ordinaries slipping 0.07% to 9,445.10, yet both indices locked in their strongest weekly performance in months with gains of 3.2% and 3.37% respectively.
The session opened lower, with the All Ordinaries testing the psychologically significant 9,400 level in early trade before buyers stepped in towards the afternoon, leaving both benchmarks hovering near unchanged by the closing bell. Despite the flat finish, the week’s gains reflect a decisive shift in market character, with the ASX 200 up 5.6% in the past two consecutive green weeks.
Materials were up 1.32% on the day, extending a week-long rally fuelled by gold prices touching $4,300 per ounce. Energy added 0.58%, Information Technology climbed 0.77%, whilst on the other side of the gain line were Financials (down 0.95%), and Industrials (-0.62%).
ASX Today: Leaders and Laggards
The session’s standout performers were overwhelmingly concentrated in gold and lithium, with Genesis Minerals (GMD) jumping 6.1% to $7.13, Capricorn Metals (CMM) gaining 5.77% to $15.59, and Vault Minerals (VAU) climbing 5.42% to $5.84. The moves came as gold prices touched $4,300 per ounce, a level that improves margins for local producers and justifies higher moves for mid-tier miners with growth pipelines.
Liontown shares (LTR) led the entire index with a 9.26% surge to $1.18, while PLS Group (PLS) advanced 6.51% to $4.58, signalling renewed optimism in the lithium complex after months of price weakness and sector deratings. The sharp moves in both lithium names suggest markets are beginning to look through the current supply overhang toward a more balanced market structure as electric vehicle demand stabilises and marginal producers curtail output.
Top Australian Brokers
- Pepperstone - Top Australian broker - Read our review
- eToro - Invest in ASX and international shares - Read our review
Telix Pharmaceuticals shares (TLX) added 7.65% to $16.19 to sit 42.52% higher YTD, whilst James Hardie Industries (JHX) rounded out the top performers, rising 5.78% to $43.18, continuing to build up a head of steam off lows.
Looking at the red side of the tape, ResMed (RMD) suffered an 8.29% decline to $28.87, the second-worst performance on the day, whilst 4DMedical shares (4DX) plunged 9.05% to $4.22, leading all decliners. The pullback to index laggard on the day for 4DX comes following a huge bounce that had seen the stock add 47% in four days from Thursday 30th July.
Rounding out the laggards, Block Inc (XYZ) fell 3.96%, whilst Droneshield (DRO) gave back 4.39% to $2.18.
Markets now face a crossroads. The 3.2% weekly gains have put the ASX 200 at levels that could invite profit-taking, the the pre-weekend action suggesting a healthy pause.
