1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
Preparing video
A proposed Strait of Hormuz passage deal to bar ‘hostile’ vessels weighed on investor sentiment this Friday as the S&P/ASX200 trimmed earlier gains, closing down a slight 0.1% to 9263.60.
For the week, the index still posted a total gain of 3.19%, marking its biggest weekly gain since April.
James Hardie was a standout performer, adding 5.8% after reporting a 54% jump in its first quarter profit.
It wasn’t a one way earnings streak though, as ResMed plunged 8.3% after warning it would increase prices to offset inflation, despite growing full-year revenue 10% to $8.1 billion. Nick Scali too gave up early morning gains and dipped by 0.7% even as the company posted a 31% jump in full-year profit.
Elsewhere on the index, investors rotated back into lithium stocks with Liontown Resources gaining 9.3% along with PLS Group, up 6.5%.
In other news, mining heavyweights BHP and Rio Tinto are set to join a roundtable with Donald Trump as the US steps up efforts to secure critical mineral imports.
And Alliance Aviation resumed trading following yesterday's 33% surge, adding an additional 6.1% over the session.
Tonight, US unemployment data is set to be released.
