Site menu

Search by ticker code:
Generic filters


Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

From Hero to Xero for tech star

Australian shares rose for the second straight day, with healthcare leading the way, and netting out a tech slump.

The benchmark S&P/ASX 200 (INDEXASX: XJO) index advanced 19.5 points, or 0.3%, to 7014.9, while the broader All Ordinaries (INDEXASX: XAO) index rose 16.7 points, or 0.2%, to 7,215.

Healthcare’s rise was paced by a $4.45 rise, or 1.8%, in heavyweight CSL Limited (ASX: CSL), to $252.30, while tech was having a downer, led by software accounting company Xero Limited (ASX: XRO), which sank $14.25, or 12.4%, to $100.47 after reporting its half-year result. Xero swung from a loss to a profit of $50 million in the half-year, with revenue growing 21 per cent, but that failed to meet expectations.

CSL share price

The big banks were mixed. Westpac Banking Corp (ASX: WBC) fell 46 cents, or 2.1%, as it traded ex-dividend; and National Australia Bank Ltd (ASX: NAB) slipped 23 cents, or 0.8%, to $28.94; but Commonwealth Bank of Australia (ASX: CBA) advanced $1.42, or 1.4%, to $102.11; and ANZ Group Holdings Ltd (ASX: ANZ) gained 25 cents, or 1%, to $25.81. Investment bank and wealth manager Macquarie Group Ltd (ASX: MQG) was up $2.36, or 1.5%, to $163.46.

Orica explodes

Explosives and chemicals group Orica Ltd (ASX: ORI) gained 42 cents, or 2.8%, to $15.48 after reporting strong earnings across all business segments for the 2023 financial year, on the back of robust demand for mining commodities across the globe. Reported net profit surged five-fold, to $295.7 million, while underlying earnings were up 24%. The full-year dividend was 43 cents per share, up from 35 cents, also impressing investors.

Orica share price

Among the mining giants, Rio Tinto Ltd (ASX: RIO) rose 75 cents, or 0.6%, to $120.20; BHP Group Ltd (ASX: BHP) was up 25 cents, or 0.6%, to $44.95; and Fortescue Metals Group Ltd (ASX: FMG) gained 35 cents, or 1.5%, to $23.45.

In energy, Woodside Energy Group Ltd (ASX: WDS) fell 59 cents, or 1.8%, to $32.76; and Santos Ltd (ASX: STO) was down 3 cents, to $7.30.

Of the coal cohort, Whitehaven Coal Ltd (ASX: WHC) put on 7 cents, or 1%, to $6.90; Yancoal Australia Ltd (ASX: YAL) was up 6 cents, or 1.3%, to $4.76; and Stanmore Resources Ltd (ASX: SMR) added 6 cents, or 1.6%, to $3.74; but Coronado Global Resources Inc (ASX: CRN) slid 6 cents, or 3.6%, to $1.60.

Lithium producer Allkem Ltd (ASX: AKE) eased 6 cents, or 0.7%, to $9.24, while fellow producer appreciated 4 cents, or 1.1%, to $3.73. IGO Ltd (ASX: IGO), which mines nickel as well as lithium, softened 10 cents, or 1.1%, to $9.26; but Mineral Resources Ltd (ASX: MIN), which produces iron ore and lithium, followed its iron ore peers higher, gaining 65 cents, or 1.1%, to $59.89. Copper heavyweight Sandfire Resources Ltd (ASX: SFR) was up 4 cents, or 0.7%, to $6.13, while rare earths producer Lynas Rare Earths Ltd (ASX: LYC) gained 2 cents to $7.06.

Allkem share price

Streak ends on Wall Street as Fed Chair disappoints

In the US, the streak was too good to last, with the benchmark S&P 500 (INDEXSP: .INX) index retreating for the first time in nine sessions, losing 35.43 points, or 0.8%, to 4,347.75, after Federal Reserve Chair Jerome Powell implied that more work may need to be done to bring down inflation to the central bank’s satisfaction, to its 2% goal.

The market had talked itself into believing that the Chair’s latest official remarks would signal that the Fed had completed its tightening bias of monetary policy: stocks and bonds have rallied on the back of that expectation.

That ended on Thursday, as a sharp jump in yields rattled investors. The tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) Index slid 128.97 points, or 0.9%, to 13,521.45, while the 30-stock Dow Jones Industrial Average (INDEXDJX: .DJI) retreated 220.33 points, or 0.7%, to 33,891.94.

On the bond market, the US 10-year yield jumped 12.3 basis points, to 4.629%, while the more policy-sensitive 2-year yield lifted 10.5 basis points, to 5.033%.

Gold gained US$7.67, or 0.4%, to US$1,958.50 an ounce, while the global benchmark Brent crude oil grade rose 34 cents, or 0.4%, to US$79.88 a barrel, and US West Texas Intermediate oil firmed 21 cents, or 0.3%, to US475.54 a barrel.

The Australian dollar is buying 63.65 US cents this morning, down from 64.12 US cents at the ASX close on Thursday.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

(Psst. By creating a free Rask account, you’ll also get access to 15+ online courses, 1,000+ podcasts, invites to events, a weekly value investing newsletter and more!)

Unsubscribe anytime. Read our TermsFinancial Services GuidePrivacy Policy. We’ll never sell your email address. Our company is Australian owned.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, the author or their clients may have a financial interest in some of companies or securities mentioned.
Skip to content