The S&P/ASX200 closed slightly higher today, rising 5.70 points to 7,936.90. The index has gained 1.89% over the past five days but remains down 2.72% for the year.
Top Performers: Mineral Resources and Telix Surge
Mineral Resources Limited (ASX: MIN) led the market, climbing 5.84% to $24.07. Telix Pharmaceuticals Limited (ASX: TLX) followed closely, gaining 4.11% to $29.13. Fortescue Ltd (ASX: FMG), Pro Medicus Limited (ASX: PME), and Qantas Airways Limited (ASX: QAN) also posted solid gains.
| Code | Company | Last Price | Change (%) |
| MIN | Mineral Resources Limited | $24.07 | +5.84% |
| TLX | Telix Pharmaceuticals Limited | $29.13 | +4.11% |
| FMG | Fortescue Ltd | $16.24 | +2.85% |
| PME | Pro Medicus Limited | $229.94 | +2.84% |
| QAN | Qantas Airways Limited | $9.22 | +2.16% |
Biggest Declines: Helia Plummets Over 25%
Helia Group Limited (ASX: HLI) suffered a steep 25.57% drop, closing at $3.61. James Hardie Industries (ASX: JHX) tumbled 14.64%, while Bellevue Gold Limited (ASX: BGL) fell 11.51%.
| Code | Company | Last Price | Change (%) |
| HLI | Helia Group Limited | $3.61 | -25.57% |
| JHX | James Hardie Industries PLC | $39.95 | -14.64% |
| BGL | Bellevue Gold Limited | $1.17 | -11.51% |
| CU6 | Clarity Pharmaceuticals Ltd | $2.53 | -8.99% |
| NHC | New Hope Corporation Limited | $3.92 | -4.62% |
Unusual Trading Volumes: Nine Entertainment Sees 880% Spike
Nine Entertainment Co. Holdings Limited (ASX: NEC) recorded a massive 880% increase in trading volume, with 27.37 million shares changing hands. Helia and James Hardie also saw significant surges in activity.
| Code | Company | Volume | % Change |
| NEC | Nine Entertainment Co. Holdings | 27.37M | +880% |
| HLI | Helia Group Limited | 6.45M | +827% |
| JHX | James Hardie Industries PLC | 3.92M | +526% |
| IEL | IDP Education Limited | 3.15M | +340% |
| BGL | Bellevue Gold Limited | 16.59M | +198% |
Helia’s Collapse: Reliance on CBA Sparks Sell-Off
Helia’s sharp decline follows news that its key partner, Commonwealth ASX200 Bank of Australia (CBA), may drop the company as its lender mortgage insurance (LMI) provider.
S&P Global reported that CBA accounted for 44% of Helia’s gross ASX200 written premiums in 2024. If CBA finalises a deal with an alternative provider, Helia’s contract will not be renewed beyond December 31, 2025.
Helia CEO Pauline Blight-Johnston acknowledged the situation.
“We will continue to work closely with CBA to ensure that we are supporting both CBA and its borrowers through to December 2025 and beyond,” she said.
S&P Global believes losing the CBA contract will weaken Helia’s long-term business.
“Given that earnings are recognized over 15 years, the ASX200 effect on operating performance would be gradual,” S&P noted.
The situation mirrors NAB’s decision in 2020 to switch from Helia (then Genworth Mortgage Insurance) to QBE.
Director’s Trades Raise Eyebrows
Coincidentally, Helia’s CEO sold approximately 150,000 shares last week, valued at $840,000. Earlier in the month, she exercised rights to convert 25,000 shares into fully paid shares.
Meanwhile, independent director JoAnne Stephenson bought 10,000 shares for $49,000 on Friday, but her investment is already deep underwater.
Market Outlook
With the ASX200 up over the past ASX200 five days but still down for the year, investors remain cautious. Rising trading volumes and corporate shake-ups could drive further volatility in the coming weeks.
