The ASX200 edged higher for the third straight day as 12 companies reported their full-year earnings.
To the scoreboard:
- ASX 200 5785.10 , 27.62 , 0.48%
- All Ordinaries 5830.80 , 26.81 , 0.46%
- AUD/USD 0.7833 , 0.0015 , 0.19%
Commonwealth Bank was the only major bank to fall, as it traded ex-dividend and dropped by 1.9%.
Blood plasma company CSL and online job ads provider Seek both reported a profit but missed forecasts, falling by 1.5% and 3.2% respectively.
Fairfax Media reported a net profit after heavy losses last year due to the write-down of its print assets. Fairfax shares climbed by 0.5%.
Seven West Media booked heavy impairment losses of its own this year, reporting a net loss of $744 million which saw it shares fall by 2.5%.
The ASX200 energy index rose by 2.7%, let by Origin whose shares climbed by 5.55% after its earnings beat market forecasts.
The big miners finished flat, but the ASX200 resources index climbed by 0.63% for the session.
Here’s today’s top stories:
1. Aussie workers still can’t catch a break: Wage growth in Australia remains anemic, coming in at annual growth of 1.9% for the June quarter.
2. The top 10 fastest growing regions: Before and after shots of Australia’s 10 fastest growing regions show significant development over the last five years.
3. RBA looks too optimistic: The Reserve Bank of Australia is sticking to its forecast for Australia’s economic growth to pick up, but Westpac’s Bill Evans argues the target will be hard to reach.
4. A valuable lesson in customer service: Business Insider’s Sarah Kimmorley is in Las Vegas, and none other than actress (and shoe designer) Sarah Jessica Parker personally sold her a pair of shoes.
5. Worner loses bonus: It was a rough year for Seven West Media, who reported a net loss of $744 million this morning due to some big impairment charges. As a result, CEO Tim Worner had to forego his $500,000 annual cash bonus.
6. Pay rises probably aren’t coming any time soon: While this morning’s data showed the Aussie wage growth remains sluggish, data out of NSW suggests that may be the case for some time.
7. Flu outbreak in Sydney: Australia’s biggest city is in the grip of a flu outbreak, with more than 8,000 cases in the first week of August.
Business Insider Emails & Alerts
Site highlights each day to your inbox.