ASX200 lifts 0.4%, IT stocks hand back yesterday's gains
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The news: The Australian sharemarket finished 0.38% higher today at 7,148.4, its best performance since late July, when it began a weeks long downtrend. The Australian dollar is trading flat at 0.644 US cents.
The numbers: IT stocks gave up Tuesday's gains with interest, dropping 5.26% over the day as logistics software company WiseTech plummeted almost 20% on weaker than expected guidance. Materials were up 1.34% as major miners BHP, Fortescue and Rio Tinto all gained more than 2%, and consumer staples made back some of yesterday's losses, rising 1.77% led by Woolworths' strong earnings and a 3.5% boost to the supermarket chain's share price.
The context: Earnings season continues tomorrow, with Qantas, Nine, Tabcorp, South32, Medibank and Cleanaway to report results. Following on Friday will be Wesfarmers, Mayne and Michael Hill. Overnight, all eyes will be on Nvidia's hotly-anticipated results. The chipmaker is expected to release earnings after the US market close.
