ASX 200 ends slightly higher; Myer and uranium miners jump — Capital Brief

The news: Australian shares ended the day higher after US markets saw mixed trading overnight as a proposed tax-cut bill passed the US House of Representative and bond yields stabilised.

The benchmark ASX 200 rose 0.15% to 8,360.9, with six of the 11 sectors finishing in the green.

Biggest movers:

• Utilities (-0.97%) – The sector posted the biggest losses, led by Origin Energy (-1.07%), which was dragged down by news that its share of half-year EBITDA from the Australia Pacific LNG joint venture will be $55 million lower. APA Group (-1.45%) and Mercury NZ (-1.75%) shares also fell, although Meridian Energy (+0.95%) and AGL (+0.20%) finished higher.
• Nufarm (-6.08%) – Led losses on the ASX 200 on its third consecutive day of declines after earlier this week reporting a 39.5% drop in half-year statutory profit and a review of its seed technology business.
• Uranium miners – Boss Energy (+12.11%), Deep Yellow (+8.26%), and Paladin Energy (+6.65%) were the top three performers on the ASX 200 following reports that US President Donald Trump will sign an executive order to jumpstart his country’s nuclear energy industry
• Materials (-0.65%) – Declines were led by Fortescue (-2.39%) and Rio Tinto (-1.58%) after both companies announcing executive changes. Fortescue lost CEO Energy Mark Hutchinson and COO Shelley Roberson while Rio Tinto said its CEO Jakob Stausholm will leave later this year. BHP (-0.72%) shares also fell.

Other news:

• Mayne Pharma (+10.8%) – The embattled drug company recovered some of its losses from earlier in the week as Cosette Pharmaceuticals’ $672 million takeover hangs in the balance.
• Myer (+5.41%) – The retailer reported improved sales figures amid tighter margins.
• Bendigo and Adelaide Banks (+0.76%) – Its share price ended higher despite a fall in quarterly cash earnings at Bendigo Bank.
• Challenger (+0.4%) – UBS lifted its 12-month price target from $7.70 to $9.15.
• Silk Logistics Holdings (0%) – The ACCC resumed its probe into multinational logistics giant DP World’s buyout of small-cap ASX-listed logistics firm, with a decision set for 10 July.
• ALS (-0.28%) – Jarden downgraded the stock from ‘neutral’ to ‘underweighted’.
• Catalyst Metals (-4.37%) – Resumed trading after announcing completion of a $150 million discounted institutional placement.
• Australian vintage (-12.79%) – The wine company said it expects to post a 3% decline in sales for FY25.