The ASX 200 ended May on a high, climbing 1.6% on Friday, recovering from a rough Thursday and finishing the week up 0.9%, and the month up 0.8%. The catalyst was a tentative 60-day ceasefire between the US and Iran, which eased the market’s uneasiness, sent Brent crude down 0.9% to $US92.87, and lifted risk appetite across the board. Materials led the charge as gold rebounded to around $US4,500 an ounce after hitting a two-month low the day prior – a sign that investors weren't fully convinced the ceasefire holds.
The week’s best performer
Electro Optic Systems (ASX:EOS) +25.34%
EOS surged this week after announcing two high-profile board appointments. Retired Air Vice-Marshal Catherine Roberts and retired Major General Kathryn Toohey, who sits on the board of Austal Ltd, joined as Non-Executive Directors. For a company scaling its global counter-drone and space businesses, adding two former senior ADF figures sends a strong credibility signal. The move landed against an already bullish backdrop since EOS shares had climbed from below $9 just a week prior, with stockbroker, Bell Potter carrying a $10.60 price target on the stock.
This week's worst performer
ASX Limited (ASX:ASX) -22.30%
ASX Limited, the company that runs the Australian stock exchange, had a tough week after releasing a financial guidance update that rattled investors. FY2027 total expense growth is forecast at 18–21%, driven by technology modernisation, remediation work, and costs tied to an ASIC inquiry. Capital expenditure is also on the rise, climbing from $100–120 million this year to $170–190 million by FY2028. Income investors got hit too, with dividends expected to sit at the bottom end of the payout range over at least the next two payments. The underlying revenue numbers were fine, but the spending trajectory wasn't.
