AU Evening Wrap: ASX 200 Breaks 8,000 on Tech, Consumer, and Property Surge

• Top losers: $Meridian Energy Ltd(MEZ.AU)$ $News Corp-B(NWS.US)$ $Ramsay Health Care Ltd(RHC.AU)$ $Aussie Broadband Ltd(ABB.AU)$

Australia's $S&P/ASX 200(.XJO.AU)$ rose 0.7% to 8017.6, closing above 8000 for the first time, amid a broad-based rally led by technology stocks. All 11 sectors finished in the green, with information technology stocks up 1.4%, followed by consumer discretionary, which also rose 1.4%. Major banks all ended 0.8% higher, as market watchers see the possibility of a rate cut in the U.S. coming soon. $Nanosonics Ltd(NAN.AU)$ was the day's best performer, rising 5.1% after saying it expects FY 2024 revenue of A$170 million. $WiseTech Global Ltd(WTC.AU)$ put on 2.5%, while Xero added 1.4%. $Lifestyle Communities Ltd(LIC.AU)$ was the day's poorest performer, falling 18%, as it addressed media coverage aired by the ABC.

Metals and Energy stocks also saw modest gains, which is notable given the declines in key commodities markets. Attention is increasingly shifting to earnings, with significant moves in FY24 guidance — $Aussie Broadband Ltd(ABB.AU)$ fell sharply, while Nanosonics surged.