NRW slumps about 10%
Telsra gains over 2%
Australia releases jobs data
(Updates to close)
Australian shares ended slightly higher on Thursday on an earnings-heavy day, led by mining contracter NRW Holdings and money manager Magellan while losses in heavyweights like Origin Energy and Pilbara Minerals capped gains.
The S&P/ASX 200 index (xjo) closed 0.2% higher at 7,865.5 points. The benchmark clocked its fifth straight session of gains.
Shares of Telstra (TLS) rose 2.1%, after the Australian telco forecast higher fiscal 2025 earnings despite a drop in annual profit.
Money manager Magellan Financial (MFG) gained 7.6% and mining services provider NRW Holdings (NWH) climbed 9.7% on higher earnings.
Oil and gas retailer Origin Energy (ORG) emerged as the second biggest loser on the benchmark after flagging a decline in electricity profits for fiscal 2025.
"The prospect of lower company profits in future was a bitter pill for investors to swallow, which is why many were heading for the exits today despite the bumper earnings report," Tim Waterer, a market analyst at KCM Trade said on Origin earnings.
Lithium miner Pilbara Minerals (PLS) ended 3.9% lower on plans to buy smaller peer Latin Resources (LRS) for an implied value of $370.88 million.
Chemicals firm Nufarm (NUF) closed 9.8% in the red after it downgraded earnings estimates amid intense market competition and lower pricing while medical device manufacturer Cochlear (COH) ended 7.3% lower on weaker-than-expected profit.
Among sub-indexes, banks .AXFJ gained 0.8% on local jobs data that showed labour demand remained solid despite high borrowing costs.
Miners .AXMM closed 1.3% lower, reflecting falling iron ore prices on weak property data from China. BHP Group (BHP) and Rio Tinto (RIO) ended 1% and 3.6% lower.
Gold miners .AXGD also closed 0.2% lower as the bullion remained subdued earlier in the day but later regained some ground.
New Zealand's benchmark S&P/NZX 50 index (nz50) closed 1.1% higher at 12,710.6 points.
- Forums
- ASX - By Stock
- XEJ
- News: XEJ Australia shares clock marginal gains on mixed corporate earnings
News: XEJ Australia shares clock marginal gains on mixed corporate earnings
Featured News
Add XEJ (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,952.4 |
Change
-112.000(1.24%) |
Mkt cap ! n/a |
Open | High | Low |
9,064.4 | 9,079.5 | 8,937.3 |
Featured News
XEJ (ASX) Chart |