1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Markets experienced a sharp turnaround to end the week this Friday. The equity plunge triggered by yesterday’s US-Iran military strikes were quickly placed in the review, replaced by renewed optimism surrounding talks of a potential 60-day truce extension.
The S&P/ASX200 closed the week up 1.62% to 8,731.70 points.
The materials sector posted the sharpest turnaround on Friday, as gold rebounded. On the share market, Northern Star Resources and Evolution mining climbed 3.6% and 4% respectively.
Although it was Judo Capital that held onto the top spot of the index, rallying 12.4% following a $750 million capital-relief securitisation. The transaction is expected to deliver a 25-30 basis point uplift to FY27 return on equity.
Elsewhere Webjet posted gains of 3.7% as it announced Layton Shannos will take over as acting chief in place of Katrina Barry who leaves the online travel company on Sunday.
Among the laggards, IDP Education shed 16.2% as Macquarie downgraded it to underperform and slashed its price target from $5.45 to $2.35.
Tonight, markets hold their breath awaiting Trump’s comments on the ceasefire framework.
