Australian Shares up 0.2%, News Corp Reports

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Australian Shares up 0.2%, News Corp Reports
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 higher during Friday’s mid-morning deals, up 13.70 points or 0.19% to 7,091.70, retracing losses of 0.15% in the previous session and set to end the week 1.42% higher amid volatile trade as investors digested a slew of corporate earnings reports both locally and abroad, while rising long term bond yields continued to pressure the technology sector.

ASX 200 Futures were pointing 1.19% higher.

Among stocks, technology was most improved following yesterday’s 6% plunge, as sq2 added 0.73%, z1p lifted 2.06%, Appen Ltd (ASX: APX ) gained 0.53%, Megaport Ltd (ASX: MP1 ) added 1.61%, Novonix Ltd (ASX: NVX ) 0.3% Brainchip Holdings Ltd (ASX: BRN ) gained 6.29%, Altium Ltd (ASX: ALU ) dropped 0.61%, Computershare Ltd. (ASX: CPU ) added 1.33%, Xero Ltd (ASX: XRO ) gained 1.2% and Wisetech Global Ltd (ASX: WTC ) lifted 0.8%.

REITs were higher, with Mirvac Group (ASX: MGR ) up 0.38%, Goodman Group (ASX: GMG ) adding 0.55%, Stockland Corporation Ltd (ASX: SGP ) up 0.99% and Scentre Group Ltd (ASX: SCG ) adding 0.34%.

Financials were mixed as Macquarie Group Ltd (ASX: MQG ) added 1.26%, Commonwealth Bank Of Australia (ASX: CBA ) lost 0.16%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) dipped 0.89%, National Australia Bank Ltd (ASX: NAB ) lost 0.43% and Westpac Banking Corp (ASX: WBC ) lifted 1.85%.

Materials were down 0.65% collectively as Rio Tinto Ltd (ASX: RIO ) lost 1.05%, BHP Billiton Ltd (ASX: BHP ) fell 1.11%, Fortescue Metals Group Ltd (ASX: FMG ) eased 0.28%, Champion Iron Ltd (ASX: CIA ) fell 0.52%, Pilbara Minerals Ltd (ASX: PLS ) lost 0.3%, while Magnis Resources Ltd (ASX: MNS ) and Avz Minerals Ltd (ASX: AVZ ) added 2% and 0.69% respectively.

Meantime, Rupert Murdoch’s News Corp (ASX: NWS ) lifted 4.43% after reporting a 13% uptick in revenue to $A3.8 billion for the December quarter, driven by advertising sales as well as payments from its content deals with tech giants Google (NASDAQ: GOOGL ) and Facebook (NASDAQ: FB ). News Corp-owned real estate listings portal Rea Group Ltd (ASX: REA ) also lifted 0.68% after posting strong earnings growth following a better than expected recovery from Melbourne and Sydney lockdowns. The company reported a 27% increase in the first half of the financial year to $368 million and a net profit increase of 31% to $226 million.

On the bond markets, Australia 10-Year rates were higher at 1.937% while United States 10-Year yields were near fresh 2-year highs of 1.836%.

In New Zealand, the NZX 50 was down 0.71% to 12,247.

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