ASX ends higher after mixed session
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The news: The Australian sharemarket ended higher after a mixed session that saw Origin drag utilities and Telstra lift telecommunication services.
The numbers: The benchmark ASX 200 gained 0.19% to end at 7,865.5, with six out of 11 sectors finishing in green.
The best performing sector was telecommunication services, up 1.69%, followed by industrials (1.15%). Telstra gained 2.58% after posting full-year results in line with market forecasts and tightening its FY25 EBITDA guidance range.
The best performer across the ASX 200 was NRW Holdings, up 9.09%, after it lifted its full-year profit and dividends on the back of strong order flow and flagged a positive outlook.
Magellan shares jumped 7.84% after the fund manager saw a 2% lift in its adjusted NPAT, had its first positive quarter of institutional inflows, and announced a strategic partnership with
Arena REIT rose 3.31% after posting an increase in full-year earnings as steady growth in the childcare sector helped the learning centre landlord meet analysts' forecasts.
Monadelphous gained 2.3% after announcing that it had been awarded three new construction contracts in the iron ore and renewable energy sectors.
Genesis Energy ended 0.49% higher after it agreed to buy a new solar development from New Zealand developer Helios Energy.
Meanwhile, Treasury Wine Estates edged 1.4% higher after it reported higher full-year revenue and margins as the China market reopened and its US acquisition boosted returns.
The worst performing sector was utilities, down 4.06%, followed by materials (-1.2%). Origin Energy was one of the worst performers, down 9.43%, after the top energy retailer and gas producer missed consensus full-year profit estimates by 10%.
Nufarm was the worst performer across the ASX 200, down 9.91%, after the agricultural chemicals supplier slashed its full-year earnings guidance as a pricing downturn extended into the second half of the fiscal year.
Cochlear shares fell 7% after a softer-than-expected full-year result from the hearing implants maker.
Elsewhere, Pilbara Minerals dropped 4.74% after investors opposed its acquisition of ASX minnow Latin Resources. The latter, however, rocketed 52.08%.
Rio Tinto (-3.67%), Fortescue (-2.77%) and BHP (-1.09%) all fell after the iron ore prices fell to its lowest level since 2022.
Goodman Group shares edged 0.85% lower despite topping its upgraded full-year guidance.
The Australian dollar is higher buying 66.21 US cents.
The context: Tonight will see the latest US unemployment figures released along with retail sales numbers.
Friday will see Reserve Bank governor Michele Bullock speak at the House of Representatives Standing Committee on Economics.
Earnings season continues with Amcor, Domain, ASX, Charter Hall Retail REIT reporting on Friday.
