AU Evening Wrap | The ASX 200 reaches a new record high, driven by gains in technology and energy sectors

Moomoo News AU joined discussion · Nov 19, 2024 16:34

Top gainers: $Technology One Ltd (TNE.AU)$, $Sonic Healthcare Ltd (SHL.AU)$ and $Block Inc (SQ2.AU)$

Top losers: $Contact Energy Ltd (CEN.AU)$, $Neuren Pharmaceuticals Ltd (NEU.AU)$ and $Pilbara Minerals Ltd (PLS.AU)$

AU Evening Wrap | The ASX 200 reaches a new record high, driven by gains in technology and energy sectors

On Tuesday, a surge in technology and energy shares propelled the Australian stock market to an all-time high at the close. The key $S&P/ASX 200 (.XJO.AU)$ increased by 0.89%, or 73.8 points, reaching 8374 at the final bell, after it temporarily surpassed 8400 for the first time in the session.

Every sector ended positively, and the All Ordinaries also gained 0.9%. The technology sector led the way with a 3.1% rise as investors anticipated Nvidia's earnings report, scheduled for Thursday morning AEDT. Meanwhile, Bitcoin was close to its historical high before retreating to trade at approximately $US91,045 ($139,892) during Asian hours.

$Technology One Ltd (TNE.AU)$ took the lead in the market's upward movement, with its share price soaring by 10.1% to $29.45 following the announcement of a 15% rise in annual net profit to $118 million and a 17% increase in revenue. The company also declared a full-year dividend of 22.45 cents per share.

$Newmont Corp (NEM.AU)$ 's shares rose 2% to $65.27 after the company announced a deal to sell its Musselwhite mine in Canada for up to US$850 million. This sale is part of its strategy to divest multiple mines and enhance returns for shareholders.

The energy sector showed gains, following the upward trend of crude oil prices due to ongoing geopolitical unrest and a weaker US dollar. Major player $Woodside Energy Group Ltd (WDS.AU)$ in the sector rose by 1.91% to $24.56, while $Ampol Ltd (ALD.AU)$'s share price went up by 2.67% to $29.24.