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The ASX pushed to another record close, extending its February rally with a strong bounce back in tech on a positive read through from Nvidia’s result, and the vast majority of companies reporting better than hoped earnings.
- The ASX200 added +47pts/+0.52% to close at 9175
- IT (+5.19%), Staples (+1.61%) and Communications (+1.61%) led the line.
- Energy (-1.48%), Industrials (-0.83%) and Utilities (-0.75%) weighed.
- JB Hi-FI (JBH) -0.02% was down by the amount of its $2.10 dividend today (excl franking).
- Ramsay (RHC) +10.4% reported underlying profit of $172m that beat expectations
- Pro Medicus (PME) +9.8% showed confidence in global contract pipeline and margin outlook
- Super Retail Group (SUL) +8.4% reported 1H profit down 20%, but early 2H like-for-like sales +3.5% supported the stock.
- WiseTech Global (WTC) +2.6%, TechnologyOne (TNE) +6.4%, Xero (XRO) +8.6% & Megaport (MP1) +12.6% all up on bounce back in tech
- BlueScope Steel (BSL) −2.3% rejected the $14.2bn takeover proposal, citing undervaluation
- Qantas (QAN) −9.2% was down after a profit beat was overshadowed by weaker international margins + concerns around corporate demand and capacity outlook
- Worley (WOR) −10.2% fell after calling out $82m in restructuring charges and the market questioned earnings quality despite reiterated guidance.
- IDP Education (IEL) +7.6% reported a 1H earnings beat & FY guidance upgrade.
- Cettire (CTT) −25.6% swung to a 1H loss; softer revenue and near-term trading flagged
- DroneShield (DRO) +8.9% secured $21.7m in military contracts
- oOh!media (OML) +5.3% announced on-market buyback of up to 10% of issued capital
- Perpetual (PPT) +8.3% reported a 1H earnings beat that offset uncertainty around its Wealth Management sale
- ReadyTech (RDY) -30% was hit hard after pulling FY27 targets.
- Gold prices added $US37/oz during our time zone, trading US$5201/oz
- Iron ore was flat at $US98.65/mt
- Asian markets were mixed, with China flat, Hong Kong down -0.6% and Japan ripping fell -0.20%.
- US futures are trading lower
