Australia 200 stocks
Banking sector

It was a good day for the big banks, which appear to have bottomed out in late July and are never too far from the action on days with significant index changes.

Consumer discretionary sector

Benefiting from the prospect of rate cuts both locally and internationally, interest-sensitive sectors, particularly consumer-facing and real estate stocks, outperformed.

Energy sector

Telix Pharmaceuticals dived 10.83% to $17.84 after warning of higher operating expenses in the first half.

Healthcare sector

Silex Systems gained 10% to $4.80 after announcing that Global Laser Enrichment, a joint venture with Cameco, has been invited to bid for up to US$900 million in funding from the US Department of Energy’s Low-Enriched Uranium (LEU) Enrichment Acquisition Program.

Mining stocks

The big mining stocks advanced as the dust settled on the shakeout following Rio Tinto’s disappointing earnings surprise last week. 

Mineral Resources gained 6.73% to $32.82, on track for its first daily close above $32.00 since mid-February
Rio Tinto added 1.15% to $112.65
BHP increased 0.87% to $39.93
Fortescue edged 0.4% higher to $18.32

Real estate

Technology sector

The Australia 200 information technology (IT) sector followed suit, rising 1.8% to 3013 – just shy of last week’s record high of 3057.

Australia 200 technical analysis

After hitting a fresh record high of 8776.4 in mid-July, the Australia 200 has spent the past two weeks range trading above short-term support at approximately 8620 – 8600 and below the record high.

As long as the index remains above the 8620 – 8600 reassessment zone, there is potential for a push towards 8850. Be aware that a daily close below the support at 8620 – 8600 warns that a retest of the late June 8420 low is underway.

Australia 200 daily chart