Following the lead of the US market which hit new record highs overnight, the local market was strong today with the benchmark ASX200 index ending the day up 0.7%.
All 11 sectors ended the day higher, with Tech stocks and the Industrials sector leading the way.
The market also saw strong support from the FInancial sector, which is now up by more than 4% over the past week and almost 27% over the year.
Leading this sector was CBA which reached a record high just shy of $126 per share and broke through a $200 billion valuation for the first time ever. All big four banks plus Macquarie also ended higher.
Fears around a decline in international students hit Australia’s listed education sector today with the country’s largest provider of international education services, IDP Education Ltd, ending the day down more than 7%.
IDP provided an update on market conditions following recent changes to regulatory settings with management noting that a more restrictive policy environment in its key destination countries has reduced the size of the international student market.
This has negatively impacted the company’s testing and student placement volumes during the second half and led to guidance of flat earnings for the full year.
Five at Five
Kingfisher Mining: on the hunt for rare earths across a substantial swathe of Gascoyne mineral fields of WA
If you’re going to have a very large land holding, you can do much worse than preside over tenure in the highly prospective Gascoyne Mineral Field of Western Australia.
Cyprium Metals strengthens management team with Nifty copper production looming
Cyprium Metals Ltd (ASX:CYM, OTC:CYPMF) has strengthened its senior management team with a number of key appointments as it prepares for near-term copper cathode production at the Nifty Copper Project in WA.
Forrestania Resources begins Koolyanobbing Iron Project native heritage survey
Forrestania Resources Ltd (ASX:FRS) has reached a “significant milestone” in advancing the Koolyanobbing Iron Project in Western Australia having commenced an Aboriginal Heritage Survey across the project tenements
Resource Mining Corp to get RC drill spinning next week in copper-gold quest at Mpanda
Resource Mining Corporation Ltd (ASX:RMI) will get the reverse circulation (RC) drill spinning from the middle of next week for its inaugural drilling campaign at the highly prospective Mpanda Copper-Gold Project in Tanzania.
Sunstone Metals set to diamond drill high-grade targets at Limon gold-silver discovery in Ecuador
Sunstone Metals Ltd (ASX:STM) is set to put diamond drills to ground next week at the Limon gold-silver discovery, part of the Bramaderos Project in Southern Ecuador.
On your six
eSafety Commissioner drops case against Elon Musk's X over church stabbing videos
eSafety commissioner Julie Inman-Grant has called time on the Federal Court case against Elon Musk's social media platform X over the removal of graphic footage depicting a church stabbing in Sydney.
One to Watch
Firebird Metals and Sunward to develop energy-efficient calcining unit
Firebird Metals Ltd (ASX:FRB, OTC:FRBMF) managing director Peter Allen joins Jonathan Jackson in the Proactive studio to discuss a development agreement with Zhongji Sunward Technology Co, Ltd