ASX ends higher; Healius and Sigma Healthcare lead gains
Make us a preferred source
Make us a preferred source on Google
The news: The Australian sharemarket ended higher as Sigma Healthcare extended its rally since trading as a merged entity with Chemist Warehouse on Thursday. Half-year earnings reports saw Avita Medical and Mirvac climb while AMP and Cochlear both shed more than 10%.
The benchmark ASX 200 gained 0.19% to end at 8,555.8, a new closing record, as 8 out of 11 sectors finished in green.
Biggest ASX 200 gainers:
- Sigma Healthcare (6.87%) — Extended gains after the newly merged Sigma Healthcare and Chemist Warehouse entity started trading on the ASX on Thursday.
- Healius (5.76%) — A media report claimed the pathology services provider has resumed talks with smaller rival Australian Clinical Labs over a possible merger.
Biggest ASX 200 fallers:
- AMP (-15.43%) — The wealth manager reported a 43% slide in full-year profit and slashed its final dividend
- Cochlear (-13.38%) — Posted a 7% increase in half-year profit and lifted its dividend, but cut its expectation for full-year profit due to lower services revenue.
Earnings news:
- GQG Partners (3.17%) — Reported a 27% rise in funds under management for the 2024 calendar year, with net inflows reaching USD20.2 billion ($32 billion).
- Avita Medical (11.59%) — Expects a sharp increase in revenue and profitability this year after missing guidance for 2024 revenue.
- Mirvac (5%) — Swung to a small first-half profit and beat earnings forecasts.
- Westgold (2.83%) — Fell to a half-year loss on the back of one-off acquisition costs, but strong gold prices also resulted in soaring revenue.
- WAM Capital (2.79%) — Recorded a 40.6% rise in first-half profit and maintained its interim dividend.
The Australian dollar is buying 63.20 US cents.
What’s ahead: Next week will see a spate of half-year results as earnings season continues. Companies reporting on Monday include A2 Milk, Aurizon Holdings, Bendigo and Adelaide Bank, BlueScope Steel, GPT Group and Lendlease.
