AU Evening Wrap | ASX 200 gains as real estate sector advances; Zip seeks appeal against Federal Court trademark decision
Top gainers: $Light & Wonder Inc (LNW.AU)$, $Megaport Ltd (MP1.AU)$ and $Kelsian Group Ltd (KLS.AU)$
Market summary
The $S&P/ASX 200 (.XJO.AU)$ rose 0.1 per cent, or 9.3 points, to close at 7,934.5. The Australian sharemarket ended the trading session slightly higher on Wednesday, extending Tuesday's 1 per cent rally. This increase was driven by a sharp rally in property stocks, which offset losses in mining giants. The gains came despite overnight volatility on Wall Street and ahead of US President Donald Trump's tariff announcements.
Sector performance
Eight of the 11 sectors closed higher. The real estate sector was the top performer, rising 1.6 per cent. $Goodman Group (GMG.AU)$ advanced 3.2 per cent to A$30.12, $Stockland Corp Ltd (SGP.AU)$ increased 0.6 per cent to A$5.04, and $Charter Hall Group (CHC.AU)$ climbed 3.2 per cent to A$17.32.
Simultaneously, the materials sector, a heavyweight in the market, recorded significant losses. $BHP Group Ltd (BHP.AU)$ share price dropped by 1.5% to A$38.32, $Fortescue Ltd (FMG.AU)$ fell by 1.6% to A$15.40, and $Rio Tinto Ltd (RIO.AU)$ declined by 1.7% to A$115.08.
Top news
$Zip Co Ltd (ZIP.AU)$ declined 3.92 per cent to A$1.59. The company intends to apply for special leave to appeal a Federal Court decision that ruled in favor of mortgage lender Firstmac in a case involving a trademark infringement claim.
Source: Dow Jones Newswires, AFR, ASX
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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