The Australian share market opened higher and eased back before lunchtime. At noon, the ASX is 0.2 per cent or 15.8 points higher at 7476.7. The SPI futures are pointing to a rise of 10 points.
BHP, CBA and Tech stocks made gains while Consumer Staples dragged, amid mixed pressure from earnings results.
Mining giant BHP (ASX:BHP) is up 0.5 per cent while Rio Tinto (ASX:RIO) is down 0.7 per cent and Fortescue Metals (ASX:FMG) is down 3.1 per cent.
Onto banks, Commonwealth (ASX:CBA) is trading 0.6 per cent higher, while Westpac (ASX:WBC), ANZ (ASX:ANZ) and NAB (ASX:NAB) are edging 0.2 per cent lower.
Technology is the best-performing sector, with buy now, pay later giant Afterpay (ASX:APT) up 2.1 per cent.
A few big names released their FY21 results. nib Holdings (ASX:NHF) is down 10 per cent and Sonic Healthcare (ASX:SHL) is down 3 per cent. On the bright side, Charter Hall Group (ASX:CHC) has risen 5.6 per cent.
Reliance Worldwide Corporation (ASX:RWC), posted a record year in revenue and earnings in FY21.
Sonic Healthcare (ASX:SHL), delivered significant revenue and earnings in FY21, amid the Covid-19 pandemic.
Charter Hall (ASX:CHC), recorded revenue of $668 million in FY21, compared to $553.8 million in the prior year.
Best and worst performers
The best-performing sector is Information Technology, up 1.6 per cent. The worst-performing sector is Consumer Staples, down 0.7 per cent.
The best-performing stock in the S&P/ASX 200 is Pilbara Minerals (ASX:PLS), trading 8.4 per cent higher at $2.19. It is followed by shares in Nearmap (ASX:NEA) and Appen (ASX:APX).
The worst-performing stock in the S&P/ASX 200 is NIB Holdings (ASX:NHF), trading 9.9 per cent lower at $7.19. It is followed by shares in Redbubble (ASX:RBL) and TPG Telecom (ASX:TPG).
Commodities and the dollar
Gold is trading at US$1786.20 an ounce.
Iron ore is 5.9 per cent higher at US$140.44 a ton.
Iron ore futures are pointing to a rise of 0.32 per cent.
One Australian dollar is buying 71.59 US cents.
Finance News Network – Latest News