Market News
Australian share market loses ground as gains in the industrial sector are offset by losses in the resources sector, especially among gold miners. The worst performers were Ora Banda Mining (OBM) -11.7%, Genesis Minerals (GMD) -9.9% and Newmont Corporation (NEM) -8.1%.
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But the healthcare sector attracts buying as investors seek out more defensive stocks. ResMed (RMD) +3.1%, Cochlear (COH) +2.0% and CSL (CSL) +1.1%.
Nine Entertainment Co (NEC) rallies 5.1% after announcing 'a strategic repositioning of its asset portfolio.' This involves the acquisition of outdoor media platform QMS Media, the sale of its broadcast radio assets and converting its regional television station network from a wholly-owned subsidiary to an affiliate, owned and operated by WIN Network (WIN).
Star Entertainment (SGR) plummets 15.6% after reporting a December quarter EBITDA profit of $6 million. The company flagged $130 million in available cash but warned of 'ongoing uncertainties.'
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Atlas Arteria (ALX) adds 1.2% despite announcing a 9.5% increase in toll revenue for the December quarter 2025 compared to a year earlier.
Whitehaven Coal (WHC) dives 6.7% after being downgraded by Macquarie, Bell Potter and Morgans. While its December quarter operating metrics remain strong, analysts say its valuation appears stretched.
PLS Group (PLS) sinks 6.5% after confirming a 7.5% fall in production during the December quarter 2025. But revenue was up 48.6% to $373 million.
Fund manager Perpetual (PPT) slides 4.6% after being downgraded by UBS, Citigroup and Macquarie. Yesterday the company reported net fund outflows of $7.8 billion and a 1.9% drop in assets under management of 1.9% to $227.5 billion.
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