Proactive’s Tylah Tully gives a market wrap for January 20.
The ASX 200 closed 0.45% higher at 8,347.4 points today, gaining 0.64% over the past five days. The index remains 1.96% below its 52-week high.
Tabcorp Holdings Ltd rose 6.25% to $0.68 per share, despite no specific news.
The Star Entertainment Group Ltd fell 17.86% to $0.115 following a poorly received December quarterly update.
Star reported Q2 FY25 revenue of $299 million, down 15% from Q1. Its Q2 EBITDA showed an $8 million loss (excluding significant items), improving on Q1's $18 million loss.
Information Technology led sector gains, rising 1.13%. Energy was the worst performer, falling 0.56%.
Global markets reacted positively to news of US President Donald Trump’s pre-inauguration discussion with China’s Xi Jinping.
The conversation addressed trade, TikTok and fentanyl, improving sentiment regarding US-China relations.
TikTok also resumed service in the US following Trump’s decision to pause a law mandating divestment of its US operations.
Among the movers in the small cap sector today were Buru Energy Ltd which reached $0.057, a 21.28% increase on the previous close, Cyclone Metals Ltd was as much as 17.86% higher to $0.066 and Lumos Diagnostics Holdings Ltd lifted by 17.08% to a daily high of $0.048.
Other movers were AuMega Metals Ltd, which was 15.4% higher at $0.045, European Lithium Ltd rose 12.99% to $0.087 on positive news from Greenland, Predictive Discovery Ltd moved 8.63% higher to $0.277 after receiving a key environmental licence in Guinea, Lightning Minerals Ltd reached $0.097, a lift of 8.33%, Tolu Minerals Ltd increased 6.98% to $0.92 and Cadoux Ltd was 6.25% higher to $0.051.