AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
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GRC
IND
POL
BRA
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RUS
CHN
UAE
Highlights
- Market Retreat: The S&P/ASX 200 fell 0.2% despite an expected positive open, with the Australian dollar slipping to US63.51¢.
- Sector Performance: Real estate stocks led the declines, while (ASX:BHP) dropped 0.7% after announcing its lowest interim dividend in eight years.
- Key Movers: (ASX:HUB) surged 9.1% following a 54% rise in profit, while (ASX:CGF) dropped 6% despite a net profit increase.
The Australian share market edged lower as investors reacted to mixed earnings results, with the S&P/ASX 200 declining 0.2% or 14.5 points to 8522.60 at the open. Futures had suggested a higher start, but selling pressure in key sectors weighed on the index. The Australian dollar softened to US63.51¢ after touching a two-month high earlier in the week.
Real estate stocks led the decline, with (ASX:DXS) reporting earnings impacted by higher interest rates, lower trading profits, and the continued effects of increased incentives across its portfolio. (ASX:DXS) fell 0.5%, (ASX:SCG) dropped 2.3%, and (ASX:MGR) declined 1.8%.
(ASX:BHP) contributed to the market weakness, slipping 0.7% following an announcement that it would pay the lowest interim dividend in eight years. The decision aligned with its shareholder returns policy, reflecting the impact of slowing Chinese steel demand on profitability.
(ASX:CGF) recorded the steepest drop of the session, sliding 6% despite posting a 12% rise in net profit to $225 million. Meanwhile, (ASX:HUB) provided some support to the market, rallying 9.1% after reporting a 54% increase in profit, which enabled a 30% rise in its interim dividend to 24¢.
The Reserve Bank of Australia is expected to cut the cash rate by 0.25 percentage points, with traders closely monitoring Governor Michele Bullock’s press conference for insights into inflation risks and monetary policy direction.
Stock Movers
(ASX:SEK) advanced 2.4% after forecasting adjusted profit between $135 million and $160 million for fiscal 2025. The employment marketplace operator also lifted its interim dividend by 26% year-over-year to 24¢ fully franked.
(ASX:HMC) surged 8.4% after reporting a 45% increase in assets under management to $18.5 billion, with significant contributions from its private equity division.
(ASX:DRR), backed by (ASX:ILU), declined 4.9% as net profit fell to just under $64 million in the first half of fiscal 2025, reflecting weaker iron ore prices.
(ASX:AZJ) gained 1.6% after reviving discussions around the potential separation of its rail haulage and rail track businesses. The move comes as earnings pressure and a historically low share price prompt a strategic reassessment.
