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Market Commentary - Foreign Markets

Australian markets gain led by financials and utilities

24-Feb-2025, 04:38
Australian markets snapped a five-session losing streak, with financials and utilities pacing the gainers.

The benchmark S&P/ASX 200 edged up 0.14 percent to 8,308.20 while the broader All Ordinaries index settled 0.13 percent lower at 8,560.10. Commonwealth Bank rallied 3 percent and NAB advanced 2.3 percent.

Tech stocks tumbled, with WiseTech Global plunging more than 20 percent amid a leadership turmoil. Gold miners Evolution Mining, Gold Road Resources and Northern Star Resources all fell around 2 percent while Newmont and Resolute Mining plummeted 5-6 percent.