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Australian Shares 0.3% Higher on Strong Earnings

Published 2022/02/23, 03:20
© Reuters.
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By Oliver Gray 

Investing.com - The S&P/ASX 200 was slightly higher in Wednesday’s midday deals, adding 20.70 points or 0.29% to 7,182.00 after declines of 1% in this previous session as local sentiment was boosted amid a fresh batch of corporate earnings results this morning.

ASX 200 Futures were pointing 0.42% higher.

Major reporting companies included Woolworths Ltd (ASX:WOW), lifting 1.62% after reporting strong first half sales, while WisetTech Global Ltd (ASX:WTC) added 1.33% after upgrading its earnings guidance.

Stockland Corporation Ltd (ASX:SGP) gained 4.48% after delivering strong first half profits, reflecting improved investor demand for the food-based and essential retail assets

APA Group (ASX:APA) was down 2.46% after results indicated a rebound to a profit for the December half year.

Healius Ltd (ASX:HLS) climbed 3.82% after reporting better than expected earnings and revenue growth and posting its best dividend in six years, thanks to its COVID-19 testing business.

Domino's Pizza Enterprises Ltd (ASX:DMP) dropped 14.24% after results, warning that same-store sales growth is likely to be lower this year amid rising inflation pressures.

Ramelius Resources Ltd (ASX:RMS) fell 6.45% after reporting that its revenue and profit fell in the half-year. St Barbara Ltd (ASX:SBM) declined 3.8% after results showed that profits tumbled by two thirds.

Among sectors, Technology was the best performer, gaining 1.42% collectively. Appen Ltd (ASX:APX) gained 5.16%, Novonix Ltd (ASX:NVX) lifted 5.77%, Brainchip Holdings Ltd (ASX:BRN) added 5.44%, Technology One Ltd (ASX:TNE) lifted 2.11% and Nextdc Ltd (ASX:NXT) gained 1.59%.

Utilities fell 1.35% overall, with Meridian Energy Ltd (ASX:MEZ) falling 2.65% and AGL Energy Ltd (ASX:AGL) down 3.76%

On the bond markets, Australia 10-Year rates were at 2.256% while United States 10-Year rates were at 1.941%.

Among data, the seasonally adjusted wage price index came in line with market expectations, rising 0.7% in the December quarter and 2.3% on an annual basis.

In new Zealand, the NZX 50 added 0.31% to 12,153.

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