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The local share market finished up nearly a third of a per cent, driven by strong runs in the IT and utilities sectors.
IT lifted more than a per cent, while AGL Energy helped the utilities push, up more than 10 per cent, but more on that in a bit.
Supermarkets and airlines have responded against price gouging accusations.
This comes in the wake of the ACCC’s 80-page report claiming that the ongoing cost of living crisis is largely due to corporations unduly increasing prices.
Coles pointed to increasing supply prices because of rising inflation and global commodity prices.
In the green:
Media giant News Corp (ASX:NWS) gained more than six per cent following a positive profit update. In Q2 FY2024, the company posted a three per cent year-on-year increase in revenue to $2.59 billion.
News Corp closed at $41.85.
Energy provider, AGL (ASX:AGL), made up some of its recent losses with a more than 10 per cent jump today on the release of its FY24 half-year results. The company posted an underlying net profit after tax of $399 million, up 359 per cent on 1H 23. The company declared an interim dividend of 26 cents.
AGL closed at $8.80.
And Calix (ASX:CXL) lifted more than 18 per cent after confirming its partner in the Leilac-2 (Low Emissions Intensity Lime And Cement) Project, Heidelberg Materials, is looking for new locations to keep the project going. Leilac-2 aims to demonstrate a modular and scalable solution to capture process emissions as high-purity carbon dioxide with minimal energy penalty while operating on a range of fuels.
CXL closed at $1.88.
In the red:
Digital property advertiser REA Group (ASX:REA) has lost nearly four per cent today after revealing it expects residential buy yield growth to be lower for the second half.
Despite that, the Group reported a 22 per cent rise in net profit to $439 million in H1, alongside an 18 per cent revenue increase to $726 million.
Despite the dip today, the company is up 40 per cent, year on year.
REA closed at $176.43.
Alliance Aviation Services (ASX:AQZ) dropped 4.5 per cent, a day after the release of its half-yearly results.
The company reported revenue of $304 million, up 28 per cent on HY23 and an operating cash flow of $12 million, down from $23.6 million.
AQZ closed at $3.19.
And Transurban (ASX:TCL) lost some ground today on the release of its own 1H 24 results.
The toll road giant profit increased four times what it was in 1H23 to 230 million. It also declared an interim unfranked dividend of 30 cents per share, up 13 per cent from last year’s.
TCL closed at $13.15.
