AU Evening Wrap | ASX 200 reaches new peak, up 1.3%; A2 Milk surges on revised FY25 outlook and dividend debut

$S&P/ASX 200 (.XJO.AU)$ gained 0.85%, which is equivalent to an increase of 70.8 points, to close at 8,393.8, surpassing Tuesday's record high of 8,374. For the week, the index experienced a growth of 1.31%.

For the first time ever, $Bitcoin (BTC.CC)$ hit a milestone of over $99,000 on Friday. This surge was triggered by the announcement that the current head of the US Securities and Exchange Commission, Gary Gensler, is scheduled to resign effective January 20th, which is also the day of Trump's presidential inauguration.

Out of the 11 sectors, technology was the sole sector to experience a decline. Among other commodities, $BHP Group Ltd (BHP.AU)$, a significant component of the index, gained 0.88% to reach A$40.16. $Rio Tinto Ltd (RIO.AU)$ increased 0.64% to A$117.18, and $Fortescue Ltd (FMG.AU)$ saw a more substantial rise of 1.1%, closing at A$18.31.

In the banking sector, the four major banks reported upward movement. $CommBank (CBA.AU)$ reached a new high of A$159.03 and concluded the trading day with a 1.79% increase.

$WiseTech Global Ltd (WTC.AU)$ stock price plummeted 12.37% to A$121.74, following the company's decision to lower its revenue and profit forecasts for the fiscal year 2025 during its annual general meeting. The founder, Richard White, apologized to shareholders for the scandal involving the billionaire and attributed the delay in the release of key products to "media distractions".

$The a2 Milk Co Ltd (A2M.AU)$ company led the market with a 13.31% increase, reaching A$5.45, after it raised its revenue projection and initiated a dividend program due to robust product sales and elevated global dairy prices. This marked the company's most significant single-day gain since 2018.

$Megaport Ltd (MP1.AU)$ stock price declined 9.45% to A$7.57. The cloud connectivity provider was the second-largest underperformer after WiseTech, despite reaffirming its earnings outlook for FY25. UBS has cautioned that the company's aggressive hiring plans could potentially reduce its profit margins in FY26.

$Electro Optic Systems Hldgs Ltd (EOS.AU)$ shares jumped 6.60% to A$1.13. it announced the sale of its EM Solutions unit to Cohort for $144 million. Acquired in 2019 for approximately $26 million, the net proceeds from the sale will be allocated to bolster the company's core operations, including its focus on the counter-drone market.