The Australian sharemarket fell on Thursday as investors digested a fresh batch of local corporate results.
The S&P/ASX 200 Index fell 89.6 points, or 1%, to 9,038.2, with nine of the 11 sectors ending lower.
Consumer discretionary stocks led the declines, with JB Hi-Fi falling 4.5%, Aristocrat Leisure losing 1.8% and Eagers Automotive retreating 5.1%.
Wesfarmers shed 4.6% after its statutory net profit fell 1.8% to $2.87 billion for the year ended 30 June.
The Information Technology sector also weakened, with Xero down 2.6%, WiseTech Global falling 3.3% and TechnologyOne losing 2.7%.
Among individual movers, diversified investment manager Magellan Financial Group dropped 14% after reporting statutory net profit after tax of $87.9 million for the year ended 30 June, down 47% year on year.
Shares of Qantas Airways jumped 4.8% after the airline reported full-year earnings and unveiled new business-class suites amid growing demand for premium travel.
The airline also unveiled new business-class seats for its Airbus A321XLR fleet, featuring lie-flat beds and privacy doors. The first of 16 aircraft fitted with the seats is expected to arrive in 2028. Qantas also introduced updated business-class seats for its new Boeing 787-9 Dreamliners.
The announcements came as Qantas reported underlying profit before tax of $2.06 billion for the year ended 30 June.
On the bond markets, 10-year and two-year rates rose 0.3% and 0.4%, respectively, to 5.068% and 4.698%.
