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The ASX200 was slightly up by around 0.1% in early afternoon trade.
Data released today shows wages rose at their slowest pace in a year in the June quarter, reinforcing the view wages would not be a bar to cutting interest rates. Figures from the ABS showed its wage price index rose 0.8% in the June quarter, under market forecasts for a 0.9% rise.
Real Estate the leading sector up just over 1%; Financials followed up 0.7%.
Health Care was struggling, down around 3%, after blood plasma giant CSL reported an FY25 outlook investors found disappointing. Telecommunications was down 1% in benign lunchtime trade.
Company News
Online furniture and homewares retailer Temple & Webster (ASX: TPW) has rocketed up around 27% on release of its FY24 results. The company delivered an all time record revenue, up 26% year over year, and this was driven by a 31% growth in customers to a record 1.1 million.
Temple and Webster says its asset light, negative working capital model drove free cash flow to $25 million, and the company finished the year with $116 million in cash and no debt.
Temple & Webster has been trading at $12.10.
Seek (ASX: SEK) has been down around 9% in lunchtime trade after the release of its FY24 results. The online job ad company posted a 6% decrease in sales revenue, a 14% decrease in earnings, a 33% decrease in profit and declared a 25% drop in its full year dividend.
The underwhelming results left investors gave investors little choice but to sell down the stock.
Seek has been trading at around $20.10.
CSL (ASX:CSL) has been down around 5.5% after announcing its FY24 results. Revenue increased 11%, profit was up 15%. But its ambitious FY25 guidance warned investors revenue could fall due to other divisions of its business.
The company’s immunology products exceeded expectations and delivered a 20% uptick in revenue attributed to strong growth across all geographies.
CSL has been swapping hands at $291.90.
