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The ASX200 has pared back early gains and is trading at just over 8,081 points.
Australian investors are awaiting the release of July CPI data tomorrow as the hunt for seeds of a rate cut continue unabated.
Sectors are a mish mash with Energy turning the power on, up more than 3%, followed by Materials up around 1.1%. Information Technology has been in reverse down around 1.3%, Industrials and Financials – both down 0.7%.
Company News
The big Australian BHP (ASX:BHP) has been up around 1.6% after releasing FY24 results.
The company announced record iron ore output and a 9% uptick in copper production. But the company cut its dividend by 14% to fund capital expenditure on copper assets.
BHP has been trading at $41.63.
Buy Now Pay Later player Zip Co (ASX:ZIP) has been down more than 6% on the back of its full year results update.
The company increased revenue by 28% but active customers retreated by 2.9%. At the end of June Zip had just over $80 million of cash.
Zip Co has been trading at $2.11.
Property developer Johns Lyng (ASX:JLG) has been smashed this morning, down around 25% on news of its FY24 results.
The company’s financials fell short of expectations with Revenue down more than 9% and earnings before costs increasing by 8.5%.
Johns Lyng has been trading at $4.15.
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