The Australian sharemarket closed higher on Thursday, buoyed by a rally in the banking sector after ANZ delivered a stronger-than-expected first-quarter result.
The S&P/ASX 200 Index rose 28.7 points, or 0.3%, to 9,043.5, even though only four of the 11 sectors finished in positive territory.
Gains in financials were sufficient to offset sharp declines among several high-profile stocks reporting earnings.
Financials advanced for a second consecutive session, led by ANZ, which surged 8.5% to a record $40.35. The lender reported a cash profit of A$1.94 billion for the first quarter, up 6%, amid cost savings from thousands of staff reductions and restructuring initiatives under chief executive Nuno Matos.
Commonwealth Bank also extended its gains by 5.4%, building on a strong rally in the previous session after posting earnings that beat expectations and triggered its biggest one-day rise since 2020.
Westpac added 1.8%, while National Australia Bank climbed 2.3%.
In contrast, AMP was the notable laggard, plunging 26.7% after reporting a decline in full-year profit.
Utilities also provided support to the benchmark. The sector rose 4%, aided by Origin Energy, which upgraded its full-year energy markets EBITDA guidance to a range of $1.55 billion to $1.75 billion. The market looked past a 36% fall in half-year profit to $593 million, focusing instead on the improved earnings outlook.
Elsewhere in the reporting season, online homewares and furniture retailer Temple & Webster tumbled 32.6% after posting a 36% slide in half-year net profit to $5.76 million.
Gold miner Northern Star gained 5.6% after reporting a 41% jump in half-year net profit to $714 million and declaring an interim dividend of 25¢, reflecting strong production and supportive bullion prices.
Healthcare imaging software group Pro Medicus slumped 23.9% as underlying earnings before interest and tax fell 14%, despite a $100 million boost from its stake in 4D Medical, disappointing investors who had priced in stronger growth.
On the bond markets, yields moved higher, with the 10-year government bond yield rising 0.3% to 4.797% and the two-year yield up 0.4% to 4.264%.
