AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

Australian shares ended lower on Thursday as investors assessed a slew of mixed corporate earnings and remained cautious ahead of key economic data.

The S&P/ASX 200 index ended 0.3% lower at 8,045.10 points. All sub-indexes, except for financial and technology, declined.

“It’s been a long month and the bad results are now coming through… resources (are) still out of favour whilst banks hold us up,” Henry Jennings, a senior market analyst at Marcustoday, said.

Investors were on the watch for local July retail sales data due on Friday. A Reuters poll suggests that retail sales are expected to rise by 0.3% from June.

Mineral Resources emerged as one of the top losers on the benchmark index, shedding 8.1% after reporting a slump in annual profit and suspending its dividend, hit by weaker lithium prices.

Australian shares rise as BHP Group, Woodside Energy shine on upbeat earnings

Miners fell 0.8% as prices of most base metals were under pressure due to lingering fears over demand from China.

Heavyweights BHP Group and Rio Tinto fell 0.6% and 0.8%, respectively.

Banking stocks closed the session 0.3% higher at a record high.

“I think they (financials) are going to be a favoured sector to move into while we’re still in a relatively high interest rate environment in Australia,” Nick Twidale, Chief Market Analyst at ATFX, said.

Wesfarmers ended 4.1% lower after sales momentum at its top earner and the country’s biggest home improvement chain, Bunnings, moderated in the current fiscal year.

Meanwhile, New Zealand’s benchmark S&P/NZX 50 index closed 0.9% lower at 12,353.61 points.

The country’s flagship carrier Air New Zealand closed 0.9% lower after it reported a drop in its annual profit.

Comments

Comments are closed.