ASX ends higher as energy stocks rebound; Bendigo Bank surges on Q3 update
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The news: The Australian sharemarket ended higher having traded lower in the morning, as a rebound by energy stocks helped offset heavy losses across the tech sector.
The benchmark ASX 200 index rose 0.24% to 8,973.2, though only four of the 11 sectoral indices were in positive territory.
Biggest movers:
- Bendigo and Adelaide Bank (+8.4%) — Reported an increase in unaudited cash earnings for the third quarter and announced strategic partnerships with tech consultancies Infosys and Genpact.
- Orora (-18%) — Slashed its full-year earnings guidance due to impacts from the conflict in the Middle East.
Other news:
- Charter Hall (+2.5%) — Appointed to manage a $1.2 billion diversified direct property mandate for an unnamed, existing institutional client.
- Electro Optic Systems (-4.9%) — Formally ordered by the Federal Court to pay a $4 million penalty for breaching continuous disclosure requirements.
What’s ahead:
- The US Bureau of Economic Analysis will release monthly personal consumption expenditures figures — the Federal Reserve’s primary inflation measure — at 10:30pm AEST. It is also set to release quarterly GDP data.
