Market Wrap / turnaround Tuesday

The local market regained some ground during Tuesday's trade, rebounding from a two-week low. The S&P / ASX 200 gained 39.1 points or 0.48% to 8,231.

However, the consumer discretionary sector was in the red as consumer sentiment slipped a little further in January. The Westpac-Melbourne Institute survey pointed to a decline of 0.7% in January to a reading of 92.1, down from 92.8 in December. Retailer Premier Investments was one of today’s worst performers, shedding a further 1.4% after Monday's trading update. City Chic rose 14.6% on a strong holiday trading update.

In the healthcare sector, Telix Pharmaceutical shares rose 4% as it exceeded its full year guidance, with unaudited revenue reaching $783 million in 2024, a 55% increase from 2023.

CAR Group gained 2.7% as it announced it will discontinue its Australian Tyres business, following difficulties to achieve sustainability. 

One of today's biggest gainers was Star Entertainment after a Macau businessman bought 28 million shares in the casino operator. Shares rose 12%.

Elsewhere, the energy sector gained 1.2% as Brent crude prices kept rising. The miners also benefitted from higher iron ore prices.  Boss Energy was one of today’s best performers, up 5.4%, while BHP gained 1.4%.

Tonight, US PPI data for December is due, along with the NFIB small business optimism index.