Skip to content

Briefing

Market Wrap

ASX ends flat; Sigma Healthcare and lithium miners soar

Make us a preferred source
Link copied

The news: The Australian sharemarket ended almost flat after a mixed trading day that saw a deluge of half-year earnings reports and the merged Sigma Healthcare-Chemist Warehouse debut on the ASX.

The benchmark ASX 200 gained 0.06% to end at 8,540, despite just three out of 11 sectors finishing in green.

Biggest ASX 200 gainers:

  • Lithium miners — Liontown Resources (9.24%), Mineral Resources (6.97%), IGO (5.65%) and Pilbara Minerals (4.7%) soared after a sector-wide selloff on Tuesday and tracking gains by lithium giant Albermarle overnight. Iron ore miners also rallied after data showed that land plots in key Chinese cities sold at high premiums in recent weeks, with BHP gaining 2.12%. And MinRes announced that its board had approved changes to its governance processes and policies.
  • Sigma Healthcare (5.44%) — The newly merged Sigma Healthcare and Chemist Warehouse entity started trading on the ASX today.
  • ASX (4.98%) — Delivered its highest first-half operating revenue and hiked its interim dividend after posting a 10% rise in underlying profit.

Biggest ASX 200 fallers:

  • IAG (-12.56%) — Reported first-half profit ahead of estimates but flagged ongoing weakness.
  • Graincorp (-5.41%) — Set full-year underlying profit guidance of between $60 million and $95 million, missing market expectations.
  • Orora (-4.7%) — Its first-half statutory profit plunged after the packaging group downsized its glass facility in Gawler, South Australia.
  • Treasury Wine Estates (-5.74%) — Lifted first-half profit on the back of improved earnings from its luxury portfolio but reported weaker performance for its commercial wines.

Earnings news:

  • Temple & Webster (13.03%) — More than doubled its first-half profit after its EBITDA margin comfortably topped guidance for the full financial year.
  • Domain (6.96%) — Announced that ex-REA Group CEO Greg Ellis had been appointed as interim CEO and reported a rise in first-half profit.
  • Downer EDI (-3.6%) — Announced that its turnaround is "on track" after notching a 4.7% increase in half-year net profit.
  • Pro Medicus (-3.2%) — Delivered record first-half profit and revenue but still missed analyst expectations.
  • HomeCo Daily Needs REIT (-1.67%) — Reaffirmed its full-year guidance after reporting flat funds from operations.
  • Origin Energy (-1.17%) — Increased its first-half profit and interim dividend, boosted by an improved performance from its integrated gas segment and lower tax expenses.

Other news:

  • Aristocrat Leisure (2.44%) — Flagged that its Big Fish Games operation will no longer develop new games following a strategic review.
  • Austal (-0.77%) — Has been awarded a contract by Swedish ship operator Gotlandsbolaget to construct a “hydrogen-ready” passenger ferry.
  • Qantas (-2%) — Macquarie downgraded its rating on the airline from 'outperform' to 'neutral' as it faces more international competition.

The Australian dollar is buying 62.95 US cents.

What’s ahead: Overnight will see the release of the latest US producer price index figures and unemployment claim numbers.

Earnings results on Friday include AMP, Cochlear, Charter Hall Retail, and Mirvac.

By Jassmyn Goh