ASX/200 Close Higher by 1.38%, Lifted by Financial

By the end of the trading session on 16 January 2025, the benchmark index S&P/ASX 200 closed higher by 1.38% and settled at 8,327.00. All 11 sectors ended higher along with the S&P/ASX 200.

Financial and A-REIT are the top-gaining sectors, gaining 2.56% and 2.34% in their index value.

Neuren Pharmaceuticals Limited  (ASX: NEU) and Zip Co. Limited (ASX: IEL) are the top-gaining stocks, gaining 7.407% and 4.422% in their stock prices. On the other hand, Mineral Resources Limited  (ASX: MIN) and Sims Limited (ASX: SGM) went down by 2.014% and 2.008% respectively are the top-losing stocks.

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Top gainer for the day:

• Financial (Up 2.56%)
• A-REIT (Up 0.13%)

Other Factors influencing the market:

• Zip Co's Surge: Zip Co Limited saw a 10% rise in its share price, reaching $3.09 after US competitor Sezzle revised its revenue guidance upwards, driven by “exceptional holiday demand.”
• Tabcorp Holdings Gains: Tabcorp Holdings advanced 5.9% to 62.5¢, supported by a buoyant market and the appointment of Michael Fitzsimons as its first chief wagering officer, an announcement previously revealed by Street Talk.
• Monadelphous Downgrade Impact: Monadelphous Group Limited declined by 1.6% to $14.20 following a “neutral” rating from Macquarie, which projected low double-digit earnings growth already reflected in its share price.
• Neuren Pharmaceuticals Recovery: Neuren Pharmaceuticals soared 11.5% to $12.28, rebounding after steep losses, as its US partner Acadia shared a delay in marketing approval for its Rett syndrome treatment until 2026.
• DigiCo REIT Limited Movement: DigiCo REIT edged up 0.9% to $4.45, despite a “buy” rating and $5.80 price target from Goldman Sachs, which represents over 30% potential upside.
• Oil Prices Rally: Oil prices extended gains amid concerns over global supply risks and ongoing declines in US crude inventories, marking the longest streak of reductions since 2021.
• US Stock Market Performance: US indices closed mixed, with the Dow Jones Industrial Average up 1.65%, the S&P 500 up 1.83%, and the NASDAQ Composite rising by 2.45%.
• Global Market Moves: The Hang Seng Index climbed 1.11%, and the FTSE 100 Index gained 1.21%, reflecting positive momentum in global markets.

Top 5 Gainers and Losers Scoreboard

90-Day Average Volume Outlier:

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