The ASX200 hit an all-time record high of 8,566 points, before paring gains and closing up 0.45% at 8,532 points.

Positive investor sentiment stemmed from receding concerns about the size of any potential tariffs on China.

IT, Materials, and Real Estate were the best performing sectors, all up around 1.1%, followed by Discretionary, 0.64%. Utilities was the worst performer, down 4.15%, followed by Telecommunication, down 0.42%.

In the Green

Lynas Rare Earths (ASX:LYC) closed up 2.76%% after Gina Rinehart’s Hancock Prospecting increased its stake in the company. Rinehart’s total stake is now 8.21%, valued at nearly $473 million based on yesterday’s closing price.

Lynas Rare Earths closed at $6.33.

Capricorn Metals (ASX:CMM) closed up 1.18%% after acquiring the Mummaloo Project from Top Iron for $3.5M, enhancing its Mt Gibson Gold Project in the Murchison region of Western Australia.

Capricorn Metals closed at $7.72.

Lendlease Group (ASX:LLC) closed up 2.04%% after hitting the halfway mark in its grand strategy to sell more than $4.5 billion in assets and “simplify” its management structure, offloading infrastructure investor Capella Capital today.

The Sydney-based public developer is being sold to Japanese trading company Sojitz Corporation for $235 million; at least $70M will go straight to Lendlease’s operating costs.

Lendlease Group closed at $6.50.

In the Red

ResMed (ASX:RMD) closed down 0.79% after posting its Q2, FY25 quarterly reports. 

The company reported a year-over-year revenue increase of 10%, amounting to US$1.3 billion ($2.01 billion). It generated US$309 million ($497.6 million) in operating cash flow, highlighting its operational efficiencies amid rising demand.

ResMed closed at $40.18.

Peninsula Energy (ASX:PEN) closed down 17.5% after revealing its Lance Uranium Project (LUP) is to be delayed and production guidance downgraded.

While the company is on track to start producing yellow cake uranium – the form in which uranium is consumed by nuclear fuel makers before enrichment – the market isn’t liking the lull in momentum.

Peninsula Energy closed at $1.08.

FAR Limited (ASX:FAR) closed down 7.02% after receiving notice from supermajor Woodside (ASX:WDS) that it may still owe the latter $6.8 million for historical expenditure in Senegal.

Far Limited closed at 53 cents.