Australian Sharemarket Closes Week in the Green; Women and Children Return from Syria
The Australian sharemarket finished the week on a positive note, buoyed by gains in technology, healthcare, and consumer discretionary stocks. This positive momentum followed a record close on Wall Street. Meanwhile, a group of Australian women and children, believed to be relatives of Islamic State fighters, have returned to Australia after being stranded in Syria for years.
ASX 200 Performance
The S&P/ASX 200 closed 41.5 points higher, representing a 0.5 per cent increase, at 8987.4. Eight out of the market's eleven sectors ended the day in positive territory. Optimism surrounding potential US interest rate cuts contributed to the overall positive sentiment in global sharemarkets throughout the week, even amidst a partial US government shutdown. The Australian sharemarket concluded the week with a 2.3 per cent increase from its starting point.
- Clarity Pharmaceuticals led the market with a 19.3 per cent gain.
- Eagers Automotive saw a 15.3 per cent rise after completing a capital raising to invest in a Canadian dealership group.
- DigiCo Infrastructure experienced an 11.7 per cent surge due to stronger earnings guidance.
Sector Highlights and Lowlights
The technology sector emerged as the top performer, surging 1.6 per cent, mirroring gains in US tech shares overnight. Key players like Xero (up 1.7 per cent), Life360 (up 3.1 per cent), and WiseTech (up 0.3 per cent) contributed to this growth. However, not all sectors fared well. Telstra's shares declined by 0.6 per cent after the Federal Court imposed an $18 million fine for misleading nearly 9000 broadband customers.
Energy shares generally experienced losses. Santos fell by 2.2 per cent, and Yancoal decreased by 1.5 per cent. Woodside remained relatively unchanged. The utilities sector also saw declines, with Origin Energy down 1.5 per cent and AGL falling by 0.9 per cent.
Return of Women and Children from Syria
A group of six Australian women and children, suspected to be relatives of Islamic State (ISIS) fighters, have secretly returned to Australia after being stranded in Syria following the collapse of the ISIS regime. These individuals had traveled to Syria and Iraq during the period when ISIS controlled significant portions of both countries, spanning from 2013 to 2019.
Upon leaving Syria, the group was detained by Lebanese authorities in Beirut due to lacking valid visas and legitimate entry records, as confirmed by the federal government. The opposition has voiced "grave concerns" regarding the secret return of these individuals to Australia.
