Monday, March 31, 2025

Nine Entertainment is the top gainer among Australian shares.

February 20, 2025

Australian shares rose Friday on the back of gains in energy and mining stocks, as well as strong commodity prices. Nine Entertainment was the biggest gainer, after Domain Holdings Australia, which owns 60%, received a purchase offer.

As of 0026 GMT, the S&P/ASX 200 was up by 0.1% to 8,333.1. The benchmark index has lost 2.6% in the first week.

Iron ore prices rose overnight, causing miners to gain as much as 1.5 percent.

BHP Group and Rio Tinto gained between 0.2% and 1,6% on Friday.

The strong oil price has led to a 1.5% increase in energy stocks.

Woodside Energy and Santos both saw their shares rise by 0.6% and 1,1%, respectively.

Financials subindex increased by 0.1%. National Australia Bank, Westpac, and Commonwealth Bank of Australia all gained between 0.3% to 0.6%.

Nine Entertainment, the owner of a free-to-air TV network and a newspaper publisher, has seen its shares rise by 20.5% to their highest level since March 25th 2024.

Nine Entertainment, the owner of 60% of Australia’s Domain Holdings was bought by CoStar, a U.S.-based online real estate company, in a deal valued at A$2,65 billion ($1,70 billion).

Sydney-based QBE Insurance's earnings grew by 8%, reaching their highest level in 15 years. The full-year results also exceeded analysts' expectations.

The benchmark S&P/NZX50 index in New Zealand fell 0.7% to 12,790.99.

Fonterra's shares rose 3.5% on the news that it had forecasted its earnings would meet the upper half its fiscal 2025 outlook while also hinting at a large interim dividend.

(source: Reuters)

Related News

Marine Technology ENews subscription

World Energy News is the global authority on the international energy industry, delivered to your Email two times per week.

Subscribe to World Energy News Alerts.