Australia’s S&P/ASX 200 (INDEXASX: XJO) (ASX: XJO) ended higher on Tuesday with shares of Caltex Australia Ltd (ASX: CTX) rising firmly.

All Ordinaries: up 0.2% at 6,159 points

ASX 200: up 0.2% at 6,056 points

Some Gainers

  • Caltex Australia – up 4.1%
  • BlueScope Steel Ltd (ASX: BSL) – up 2.8%
  • Woolworths Limited (ASX: WOW) – up 1.3%

Some Losers

  • Seek Limited (ASX: SEK) – down 2.3%
  • Alumina Limited (ASX: AWC) – down 5.2%
  • Wesfarmers Ltd (ASX: WES) – down 1.1%

Shares of Caltex Australia, the service station and petroleum refinery company, jumped 4% following the release of its 2017 financial results. In an announcement to the ASX, Caltex reported a 19% increase in revenue and a 1% profit uplift.

Following a two-year strategic review, Caltex plans to overhaul its franchise network, opting instead to take control of all service stations by mid-2020. Click here to fill up on Caltex’s news.

Updater Inc (ASX: UPD), a $600 million technology that helps people move houses, reported a loss of $US13.7 million but its shares jumped 16%. Updater management expects that 2018 revenue will rise to between US$19 million and US$23 million. Move yourself to the Updater news here.

Costa Group Holdings Ltd (ASX: CGC), a food company fuelling millennials insatiable appetite for smashed avocado, mushrooms and berries, reported its half-year financial report. Costa Group reported a half-year profit of $66 million from revenue of $489 million. Is smashed mushroom the next big thing? Click here for Costa Group’s news.

Finally, Speedcast International Ltd (ASX: SDA) revealed a 136% increase in revenue but a 31% fall in profit for its most recent full year. Speedcast provides satellite communication services for the shipping industry, mining and Government. Dial into the news.

Join Rask’s Investor Club Newsletter Today

You can join Rask’s FREE investor’s club newsletter today for all of the latest news and education on investing. Join today – it doesn’t cost a thing. BUT, you’ll need a good sense of humour and a willingness to learn.

Join today.

Keep Reading

 

Disclaimer: This article contains general information only. It is no substitute for licensed financial advice and should not be relied upon. By using our website you agree to our Disclaimer & Terms of Use and Privacy Policy.