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ASX Rally Pauses on Profit-Taking as Qantas Faces Imminent Fine

Futures point to a 0.6 percent ASX drop at the open following a stretch of record closes.

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Overview

  • ASX 200 futures signal a roughly 0.6% decline at Monday’s open after five consecutive record highs as investors lock in gains.
  • The benchmark index closed at a record 8,938.6 on Friday, driven by early reporting-season beats with about three-quarters of companies meeting or exceeding forecasts.
  • tional AuAustralia Bank led financial stocks higher with a 1.8% gain on its trading update, while BlueScope shares fell about 5% after reporting a 90% year-on-year profit slump.
  • This week’s reporting season intensifies with heavyweights BHP, Woodside Energy, Santos and Transurban set to release results that could sway market sectors.
  • Justice Michael Lee is poised to impose a substantial Federal Court penalty on Qantas for the unlawful pandemic-era sacking of 1,800 workers, a landmark outcome for workplace law.