Daily Market Update: 19 September 2025

Santos suitors walk, shares slump

The Australian sharemarket fell on Thursday, with the energy sector leading the way on news that a $36 billion takeover bid for Santos Limited (ASX: STO) had collapsed. A 5.9 per cent fall in the energy sector weighed on the benchmark S&P/ASX 200 Index (ASX: XJO), which slid 73.3 points, or 0.8 per cent, to 8745.2. The broader All Ordinaries Index (ASX: XAO) was eroded 0.7 per cent, down 64 points at 9,030.9. Ten out of the 11 sectors were in the red, with only IT eking out a rise.

Energy was hammered by the reaction to news last night that Abu Dhabi National Oil Company (ADX: ADNOC) and partner private equity firm Carlyle Group Inc. (NASDAQ: CG) had walked away from their proposed $36 billion takeover offer for Santos Limited (ASX: STO), and weaker oil prices also soured the mood. Santos Limited (ASX: STO) lost 91 cents, or 11.9 per cent, to $6.74, after trading as low as $6.61. Woodside Energy Group Ltd (ASX: WDS)followed suit, down $1.54, or 6.3 per cent, to $23.06; Beach Energy Limited (ASX: BPT) fell 5.5 cents, or 4.5 per cent, to $1.165; and Brazilian-based producer Karoon Energy Ltd (ASX: KAR) retreated 6 cents, or 3.5 per cent, to $1.64.

Among the major miners, BHP Group Limited (ASX: BHP) eased 34 cents, or 0.8 per cent, to $39.97; Rio Tinto Limited (ASX: RIO) lost 79 cents, or 0.7 per cent, to $115.54; and Fortescue Ltd (ASX: FMG) shed 13 cents, or 0.7 per cent, to $18.75. Gold stocks were mixed, with Evolution Mining Limited (ASX: EVN) walking back 10 cents, or 1.1 per cent, to $9.21; and Regis Resources Limited (ASX: RRL) dropping 10 cents, or 1.8 per cent, to $5.45; but Catalyst Metals Limited (ASX: CYL) surged 54 cents, or 7 per cent, to $8.23; Bellevue Gold Limited (ASX: BGL) rose 2.5 cents, or 2.5 per cent, to $1.015; Capricorn Metals Ltd (ASX: CMM) added 11 cents, or 0.9 per cent, to $11.81; and Newmont Corporation (NYSE: NEM) appreciated $1.00, or 0.9 per cent, to $118.42. Copper producer Sandfire Resources Limited (ASX: SFR) lost 16 cents, or 1.3 per cent, to $12.32; and rare earths miner Lynas Rare Earths Limited (ASX: LYC) gained 22 cents, or 1.5 per cent, to $14.61.

CSL slides, in full retreat

Biotech heavyweight CSL Limited (ASX: CSL) sank below $200 for the first time since May 2019, losing $2.73, or 1.4 per cent, to $198.34. The blood plasma giant, has now lost more than 25 per cent of its value – a loss of $36 billion – since its disastrous financial update in August, and is down 40 per cent since its peak share price of $331.19, reached in February 2020.

Among the big banks, Commonwealth Bank of Australia (ASX: CBA) lost $3.82, or 2.3 per cent, to $164.33; National Australia Bank Limited (ASX: NAB) softened 6 cents, or 0.1 per cent, to $43.36; and Australia and New Zealand Banking Group Limited (ASX: ANZ) eased 3 cents, to $32.86; but Westpac Banking Corporation (ASX: WBC) gained 4 cents, or 0.1 per cent, to $38.68.

Australian tech was the only segment to finish higher, up 0.2 per cent, with strong performances by data centre operator NextDC Limited (ASX: NXT), up 24 cents, or 1.4 per cent, to $17.99; family safety tracking technology company Life360 Inc (ASX: 360), which gained 69 cents, or 1.4 per cent, to $50.26; and investigative analytics and intelligence software company Nuix Limited (ASX: NXL), which was up 9.5 per cent, to $2.88.

Record highs on Wall Street, Intel shines

In the US, stocks closed at record highs on Thursday, with smaller stocks seeing the biggest boost, as the Federal Reserve (Fed) signalled this week it was embarking on an easing rate path, reinspiring investors and raising hopes for a boost to economic growth. The broad S&P 500 Index (NYSEARCA: SPY) gained 31.61 points, or 0.5 per cent, to 6,631.96; the 30-stock Dow Jones Industrial Average (INDEXDJX: DJI) lifted 124.1 points, or 0.3 per cent, to 46,142.42; and the tech-heavy Nasdaq Composite Index (NASDAQ: IXIC) advanced 209.4 points, or 0.9 per cent, to 22,470.725. Chipmaker Intel Corporation (NASDAQ: INTC) surged 22 per cent after announcing a US$5 billion investment by NVIDIA Corporation (NASDAQ: NVDA). That marked Intel Corporation (NASDAQ: INTC)’s best day on the market in nearly 38 years.