ASX ends higher as tech soars
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The news: The Australian sharemarket ended higher as investors cheered tech stocks, with WiseTech one of the strongest performers.
The numbers: The benchmark ASX 200 gained 0.16% to end at 8,010.5, with six out of 11 sectors ending in green.
The best performing sector was IT, up 5.3%, followed by materials (1.72%). WiseTech's shares jumped 17.89% after it posted $1 billion in revenue thanks to new and upcoming product features.
Charter Hall Group shares soared 15.91% as its earnings were better than expected while it swung to a full-year loss for the 2024 financial year.
Healius shares climbed 13.27% after the healthcare services provider met its full-year earnings guidance, boosted by margin improvements in its pathology business.
Brambles shares gained 9.06% after it topped its full-year guidance and lifted its dividend.
Data#3 gained back early losses to end 5.9% higher after reporting a jump in revenue and net profit.
Shares in Breville Group jumped 5.4% after it lifted its full-year profit and dividend on the back of record sales thanks to its coffee machines.
Bapcor shares grew 2.85% despite reporting a full-year loss, but flagged progress in cost-cutting.
Iluka Resources gained 2.29% after it lifted its interim dividend amid 'subdued activity' which dented first-half earnings.
PEXA lifted 2.28% after reporting a mixed full-year result and announced its managing director and CEO Glenn King would retire by the end of FY25.
Cleanaway increased 1.55% after it posted double-digit earnings growth for FY24.
The worst performing sector was energy (-1.85%), followed by financials (-0.96%). Santos, down 4.48%, was one of the worst performers across the ASX 200 after it posted a 19% slide in net profit for the first half of 2024 due to lower LNG production, sales volumes and pricing.
AUB Group tumbled 4.19% despite beating average forecasts for its full-year earnings but its FY25 guidance came in lower than expected.
Ventia Services Group dropped 6.94% as the infrastructure services provider reported "slightly subdued" work in hand during the first half of the year.
Fletcher Building lowered 3.24% after it swung to a full-year loss as volumes dropped amid slowing demand and competitive pressures.
EBOS ended 2.28% lower despite reporting a 7.2% rise in statutory NPAT driven by its best-ever sales result.
HMC Capital fell 1.75% despite posting a solid result and highlighting $2.5 billion in “dry powder” across its funds management business.
Corporate Travel Management shares fell 1.68% after its revenue and earnings materially fell short of forecasts.
Domino's fell 1.68% despite the fast food chain more than doubling full-year profit, as analysts focused on the company's weaker than expected guidance.
IAG fell 3.23% despite posting an insurance profit of $1.42 billion for FY24, up 79.1% on the previous year.
The Lottery Company pared back early gains to end 0.81% lower despite it notching double-digit revenue and EBITDA growth in the 2024 financial year.
Meanwhile, Scentre edged 0.29% lower after it met analysts' expectations for the first half of the 2024 financial year, despite a slowdown in consumer spending and an ongoing rise in interest expenses.
The Australian dollar is buying 67.43 US cents.
The context: Overnight will see the US Federal Reserve release the meeting minutes of its latest monetary policy meeting.
Earnings season continues with Eagers, Telix, Whitehaven, Megaport, Sonic Healthcare, Stockland, Growthpoint, Insignia, Medibank, Northern Star, Qube, SkyCity, G8 Education, Super Retail reporting on Thursday.
