The Australian sharemarket experienced a positive close on Wednesday, buoyed by strong performances from key companies and optimistic investor sentiment. The benchmark S&P/ASX 200 Index registered a gain of 0.3%, driven primarily by robust results from healthcare and industrial sectors. Pro Medicus and Seven Group Holdings were standout performers, with their share prices surging following impressive financial reports. The broader market was also lifted by a rally on Wall Street, fueled by expectations of a potential interest rate cut by the US Federal Reserve. However, the mining sector faced headwinds due to a decline in iron ore prices, with BHP and Rio Tinto experiencing notable losses. Overall, the market's positive trajectory was underpinned by a combination of strong corporate earnings, improving economic outlook, and favorable global market conditions.
Futures
The Dow Jones futures are pointing to a rise of 24 points.
The S&P 500 futures are pointing to a rise of 1.25 points.
The Nasdaq futures are pointing to a rise of 8.75 points.
The SPI futures are up 29 points.
Best and worst performers
The best-performing sector was Health Care, up 1.68 per cent. The worst-performing sector was Materials, down 1.87 per cent.
The best-performing large cap was Pro Medicus (ASX:PME), closing 7.15 per cent higher at $141.00. It was followed by shares in Seven Group Holdings (ASX:SVW) and Evolution Mining (ASX:EVN).
The worst-performing large cap was Mineral Resources (ASX:MIN), closing 4.63 per cent lower at $46.33. It was followed by shares in Fortescue (ASX:FMG) and Mercury NZ (ASX:MCY).
Asian markets
Japan's Nikkei has gained 0.58 per cent.
Hong Kong's Hang Seng has lost 0.56 per cent.
China's Shanghai Composite has gained 2.43 per cent.
Commodities and the dollar
Gold is trading at US$2,501.00 an ounce.
Iron ore is 0.6 per cent lower at US$98.25 a tonne.
Iron ore futures are pointing to a 3.3 per cent fall.
Light crude is trading $0.54 higher at US$78.89 a barrel.
One Australian dollar is buying 66.28 US cents.
