Wisetech Drives ASX 200 Gains with Impressive Profit Performance
Wednesday, 21 August 2024, 09:10
Wisetech's Profits Propel ASX 200 Rally
Australian shares edged higher as a tech rally and a late rebound in miners offset a retreat in energy amid a deluge of corporate results on the busiest day of this earnings season. The benchmark S&P/ASX 200 added 12.8 points or 0.2 percent to 8,010.5, marking its ninth straight session of gains. The All Ordinaries rose 0.3 percent.
Key Highlights
- Wisetech stock jumped 18 percent after reporting a significant profit increase.
- Brambles also ranked among the biggest gainers with a new high.
- Charter Hall shares soared nearly 16 percent due to promising higher distributions.
- Energy sector lagged, particularly with Santos experiencing a profit slide.
Overall, earnings results demonstrated resilience, as many companies exceeded market expectations.
Market Reactions
- Spot prices of gold reached a record high of $US2,531.75.
- Mining stocks rebounded alongside rising iron ore prices.
- Investors remain cautious amid profit warnings from several companies.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.