The Australian sharemarket ended Thursday’s session slightly higher as investors weighed a fresh round of earnings results, with gains in banks and select corporates balancing steep losses in healthcare and energy stocks.
The S&P/ASX 200 Index rose 19.5 points, or 0.22%, to finish at 8,980. Six of the 11 index sectors closed lower.
The Australian Real Estate Investment Trusts (A-REITs) sector provided support, with Goodman Group climbing 2%, Charter Hall gaining 0.4%, Scentre Group up 1%, and GPT rising 0.7%.
Financials were also strong, with Commonwealth Bank advancing 2.1%, NAB 2.4%, Westpac 1.3%, and ANZ 0.9%.
Industrials were bolstered by Qantas, which surged 9.1% to a record closing high of $12.12 after reporting its second-highest-ever profit of $2.39 billion, supported by strong earnings from its budget carrier Jetstar.
The energy sector led the laggards as weaker crude oil prices dragged on sentiment. Woodside fell 3.4%, Santos slipped 0.7%, and Beach Energy tumbled 5.2%.
Materials also eased, with BHP down 0.5% and Rio Tinto 1.1% lower, though Fortescue Metals gained 1.5%.
Technology stocks came under pressure as WiseTech Global lost 2.2% on the back of an earnings miss yesterday.
Healthcare was the biggest drag, with Ramsay Health Care plunging 10.5% after posting weaker earnings in Australia and the UK alongside higher financing costs.
In corporate results, IDP Education soared 29.7% after investors welcomed guidance aimed at offsetting a decline in international student volumes with revenue growth and cost savings.
Eagers Automotive climbed 12% after posting a 2.3% rise in half-year profit to $119 million.
On the downside, Macquarie Technology dropped 8.2% after lowering EBITDA guidance due to rising costs and weaker telecom earnings.
South32 fell 7.2% as its outlook disappointed investors despite posting a full-year net profit of US$213 million.
On the bond markets, yields eased, with 10-year and 2-year government bond rates slipping to 4.292% and 3.33%, respectively.
