ASX ends higher after mixed session
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The news: The Australian sharemarket ended higher after new data indicated that wage growth may have turned a corner, with a 4.1% increase over the year to the June quarter.
The numbers: The benchmark ASX 200 gained 0.17% to end at 7,826.8, with seven out of 11 sectors finishing in green.
The best performing sector was financials, up 0.94%, followed by consumer discretionary (0.68%).
Orora was the best performer across the ASX 200 as it rocketed 19.69%, after rejecting an ‘opportunistic’ takeover bid from Lone Star Fund XII Acquisitions.
Temple & Webster surged 24.74% after it reported a lower-than-expected fall in profit and lifted margins after delivering record sales for the year.
Challenger rose 6.69% despite the investment manager posting a low statutory NPAT result.
Metal recycler Sims surged 10.11% after it agreed to sell its UK Metal business for $385 million.
Meanwhile, West African Resources gained 4.15% after the gold miner reported better-than-expected results from its drilling program at the Kiaka South pit in Burkina Faso. Gold stocks were among the best performers during the trading day, with bullion prices lifting more than 1% to the highest level since 2 August.
Region Group ended 0.22% higher after the shopping centre owner's full-year results fell short of analysts' forecasts, despite swinging to a statutory profit in FY24.
Elsewhere, Abacus Storage King gained 4.18% after reporting full-year results and guidance in line with expectations.
Pacific Current ended 0.93% higher after announcing that it would sell part of its stake in Chicago-based investment company Victory Park Capital Advisors to Janus Henderson.
The worst performing sector was healthcare, down 2.87%, followed by utilities (-0.34%). CSL fell 4.67%, despite lifting full-year profit and dividends, led by a strong performance in its core immunoglobulin division. However, the market was disappointed by higher costs.
Seek fell 7.37% after posting a slide in full-year revenue and earnings as the company was hit by a "significant reduction" in advertisement volumes across the Asia Pacific.
Netwealth dropped 5.47% as it reported a softer result on EBITDA, NPAT, and dividend despite posting record inflows for the financial year.
James Hardie ended 3.41% lower after it fell short of forecasts during the first quarter, but reaffirmed its full-year guidance, as net income lowered year on year amid a "challenging market environment".
The Australian dollar is higher buying 65.9 US cents.
The context: Tonight will see the latest US producer price index figures released which may give clues for the next interest rate decision by the Federal Reserve.
Earnings season continues with Commonwealth Bank, Seven West, AGL, Pro Medicus, BWP Trust, Computershare, Homeco Daily REIT and Evolution MIning posting results.
