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Australian shares experienced a decline for the first time in nine days as the market absorbed approximately 40 corporate earnings reports on what was the busiest day of the ASX earnings season.
The benchmark S&P/ASX 200 index dropped 0.3% or 20.4 points to 7977.3, ending an eight-session winning streak and mirroring a weaker performance on Wall Street. Out of the 11 sectors, seven faced losses, with energy and banking stocks leading the decline. However, the technology sector provided some relief, buoyed by a significant surge in WiseTech Global Ltd (ASX:WTC).
Key Corporate Results
WiseTech Global Ltd (ASX:WTC) saw its shares soar 17% to reach a record high of $114.99 following a substantial increase in profit. This impressive performance helped cushion the broader market losses.
Brambles Ltd (ASX:BXB) also stood out among the gainers, with its shares climbing nearly 9% to a new peak of $17.51 after exceeding earnings guidance.
Charter Hall Group (ASX:CHC) saw its stock jump more than 15% as it announced a 6% increase in distributions for the coming year. Similarly, Breville Group Ltd (ASX:BRG) rose nearly 7% on the back of record sales, and Superloop Ltd (ASX:SLC) gained 6.4% following a forecast of strong earnings growth for the financial year.
In contrast, Santos Ltd (ASX:STO) experienced a 5.1% decline after reporting a significant drop in first-half underlying profit due to softened LNG prices. Domino’s Pizza Enterprises Ltd (ASX:DMP) fell 1.8% after reporting fewer than expected same-store sales for the early part of the 2024-25 financial year. Despite this, there is optimism regarding improvements in franchisee profitability and cost management.
AUB Group Ltd (ASX:AUB) saw its shares fall 5.7% despite forecasting higher growth. Corporate Travel Management Ltd (ASX:CTD) dropped almost 7% after issuing a profit warning related to changes in the UK’s refugee detention program.
Other Notable Movements
Insurance giant Insurance Australia Group Ltd (ASX:IAG) retreated 3.1% despite doubling its annual profit. Fletcher Building Ltd (ASX:FBU) saw a modest rebound of 0.5% even though it reported a loss due to lower gains in its materials and distribution divisions.
Scentre Group Ltd (ASX:SCG) experienced a slight decline of 0.4% despite a significant increase in half-year profit. Perpetual Ltd (ASX:PPT) also saw a minor drop of 0.3% following the appointment of Bernard Reilly as its new CEO.
HMC Capital Ltd (ASX:HMC) fell 2% despite a nearly 33% increase in assets to $12.7 billion. On the other hand, Healius Ltd (ASX:HLS) surged nearly 11% despite reporting deeper losses and withholding a dividend. Cleanaway Waste Management Ltd (ASX:CWY) saw its shares rise 2.4% following a boost in profit.
The day's trading reflects a market in flux, reacting sharply to a flurry of corporate results amid broader economic trends.
