The COB from ausbiz

Cheesy grins for reporting wins 🍕


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Wall Street’s lead was - shall we say – tepid at best. But materials and energy performed well and that flowed through to the ASX200 today. The local bourse closed 0.52% at 6998. The energy sector in particular outperformed, after a big drawdown in crude inventories was revealed in last night’s API inventory report. The gains were remarkably broad-based. And of course, the news flow was dominated by corporate full year results. Wisetech was the shooting star, rallying 12% after its profits lifted 72% and hit the top end of guidance. Of the blue-chips, investors were disappointed by Coles full year numbers with the stock dropping 4.7%. Profits rose 4.3%, however guidance was underwhelming. Huge volumes moved through Domino’s shares after it handed down its results. The company posted a drop in net profit and drummed-up how the company plans to tackle a higher inflation environment. The shares finished the day up 7.5%. In other companies to report, Worley posted top and bottom line growth, with the shares climbing more than 5% for the day. Seven Group shares climbed 2% as the company talked up its growth prospects. Looking ahead - not much on the corporate or economic calendar tonight. The focus remains on what might come out of Jackson Hole this weekend. Tomorrow, Woolworths, Whitehaven Coal, Qantas and Flight Centre. 


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