The ASX200 is up more than 1.3% to 7,777 in lunchtime trade, as the market enjoys its second consecutive day in the green.
The Aussie bourse has been trading higher on the back of a rebounding Wall Street. The US jobs data released overnight was better than expected and this has seen an uptick in investor sentiment, and recession fears lifting.
Back home, all sectors are up and Information Technology has surged and is far the best performer up around 3.6%, followed by Telecommunication and Energy – both up around 1.75%.
Company News
Life 360 (ASX:360) has spiked up around 19% after updating its full year revenue guidance and sharing plans for continued global expansion. The company achieved an all time record number of new subscribers in the first half of the year, and investors have responded with enthusiasm.
Life 360 has been exchanging hands around $17.70.
QBE Insurance Group (ASX:QBE) has been down around 3.6% after announcing it has doubled profits to US$800 million in the first half of 2024. The company declared an increased dividend of 24 cents per share, up from 14 cents for the prior year.
Despite the results, the market reacted negatively and sold down the stock.
QBE has been trading at $15.75.
News Corporation (ASX:NWS) has been trading up more than 8% on release of its quarterlies. The results featured a 6% incresse in Q4 revenues and net income improved significantly by 11%.
News announced a third party has expressed interest in buying Foxtel, of which it’s a 65% owner, with the balance owned by Telstra.
News Corporation is being traded at around $44.90.