The ASX200 has been down 0.37% at 8,040 points in early afternoon trade.
Overnight in the US market giant Nvidia fell 7% as investors were disappointed with forward guidance.
Back home, reporting season is in full swing and Financials sector is up around 0.3%. All other sectors have lost ground – Discretionary down 2%, Staples 1.7% and Energy 1.6%.
Company News
Company 1
Wesfarmers (ASX:WES) has been down 3.7% after releasing FY24 results.
Flagship stores Bunnings, Kmart and Officeworks all posted single digit revenue and profit gains. But ecommerce retailer Catch Group had a 26% decline in revenue.
The company increased its dividend by 3.7% and this may be a drag on the share price.
Wesfarmers has been trading at $74.36.
Mineral Resources (ASX:MIN) has been down more than 7% on FY24 results.
Despite record earnings from its Mining Services are, the results fell below investor expectations.
Mineral Resources has been trading at $40.75.
Global online retailer Cettire (ASX:CTT) has been down more than 17% on FY24 results.
The company delivered strong sales growth, but its profits were squeezed.
Cettire has been trading at $1.10.