Investors scrambled to digest insights into the economy’s health as a broad swathe of corporate Australia including Santos, CSL, Magellan, Brambles, and Downer EDI reported their financial results.P/ASX 200 index added 0.3 per cent, or 22.3 points, to post its third straight day of gains and reach its highest level since early June.Domenico Pugliese
Oil prices pared heavy losses from earlier in the week as benchmark Brent crude futures firmed 1.1 per cent to $US93.34 a barrel, and West Texas Intermediate oil futures added 1 per cent to $US87.55 a barrel.Gold added 0.3 per cent to $US1795 an ounce, while digital currency bitcoin advanced 0.8 per cent to US$24.142.Among the blue-chips reporting, Brambles was a star performer as its shares firmed 5.1 per cent to $12.40. The company raised its final dividend to US12¢ from US10.
The worst sector was healthcare, which dropped 0.8 per cent, dragged lower by a 1.3 per cent fall in CSL’s shares to $292.50. Net profit at the blood products and vaccine giant fell 5 per cent to $US2.3 billion as its revenue rose 2.9 per cent to $US10.6 billion. CSL’s forecast for fiscal 2023 net profit of $US2.4 billion-$US2.5 billion disappointed the market.said its interim net profit more than tripled to $US1.17 billion thanks to soaring oil and gas prices.
Shares in Magellan retreated 5.9 per cent extending a horror run as the chastened fund manager said its
I guess if analysts can't see into the future they just use some sort of rear mirror valuation instead. Let's just hope they drive better than they advise.
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Source: FinancialReview - 🏆 2. / 90 Read more »