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The local market hit a fresh intraday high this Wednesday as banks recovered from yesterday’s plunge and miners continued their multi-day rally.
The S&P/ASX200 index rose by 0.7% to close at 8737.20 points.
Bank heavyweight CBA rose 0.5% while BHP jumped 0.8%.
Trade jitters eased through the market as US President Trump announced a trade deal with Japan, imposing a lower than expected tariff rate of 15% set on US imports from Japan. In exchange, Japan will invest US$550 billion into the US.
Woodside Energy beat expectations with its second quarter revenue, however, the energy giant has trimmed its 2025 outlook. It also completed the US$5.7 billion sell-down of a 40% stake in its Louisiana LNG project to Stonepeak. Shares rose 1.4%.
Paladin Energy's shares dropped 11.3% despite its Langer Heinrich Mine seeing a 33% jump in quarterly production, hitting record crusher throughput.
Telix shares slipped 15.1% after it confirmed the US SEC has formally requested it provide certain documents and information, relating to the development of its prostate cancer therapeutic candidates.
Tonight we get US existing home sales data while locally tomorrow the S&P Global PMI Index for July is due, while quarterly updates are released from Fortescue and Karoon. Newmont releases earnings.