Australian share markets ended Tuesday's trading session with a slight uptick, driven largely by advances in resource-related sectors. At the close in Sydney, the S&P/ASX 200 rose 0.16%.
The strongest performers on the benchmark were concentrated among smaller mining and resource companies. Genesis Minerals Ltd (ASX:GMD) led gains, rising 7.29% - up 0.39 points to close at 5.74. Close behind, Pls Group Ltd (ASX:PLS) increased 7.28% - gaining 0.31 points to finish at 4.57. Liontown Resources Ltd (ASX:LTR) also posted a notable advance, up 6.87% or 0.10 points to end the day at 1.55.
On the downside, several names recorded sharp declines. Mercury NZ Ltd (ASX:MCY) fell 7.94% - down 0.45 points to close at 5.22. DroneShield Ltd (ASX:DRO) dropped 6.01%, a decline of 0.23 points to 3.60, while Guzman Y Gomez Ltd (ASX:GYG) slipped 4.63% - down 0.80 points to 16.49. Shares in Guzman Y Gomez reached an all-time low in the session, falling to 16.49.
Market breadth on the Sydney exchange favored gainers: 702 stocks advanced, 444 retreated and 338 finished unchanged.
Volatility on the benchmark eased as the S&P/ASX 200 VIX declined 1.86% to 18.48, indicating a modest reduction in implied volatility for S&ASX 200 options.
Commodities and currency moves were mixed during the session. Gold futures for June delivery fell 1.62%, a loss of 72.06, to $4,367.44 a troy ounce. Energy markets showed upward momentum - crude oil for May delivery rose 4.49% or 3.96 to reach $92.09 a barrel, and the June Brent contract gained 4.51% or 4.33 to trade at $100.25 a barrel.
Currency markets reflected some strength in the US dollar and softness in the Australian dollar. AUD/USD declined 0.71% to 0.70, while AUD/JPY fell 0.55% to 110.46. The US Dollar Index Futures moved higher by 0.50% to 99.22.
Summary of market drivers and session highlights:
- Index movement: S&ASX 200 closed up 0.16%.
- Top sector contributors: Gold, Metals & Mining and Materials led gains.
- Notable winners: GMD, PLS and LTR; notable losers: MCY, DRO and GYG.
- Volatility: S&P/ASX 200 VIX fell to 18.48.
- Commodities and FX: Gold down, oil up sharply, AUD weakened, US dollar firmer.