Good afternoon and welcome to the ASX Today. It’s Tuesday of Week 25, a big day for earnings season. The ASX is firmly higher at lunchtime, with every sector in positive territory as investors digest a fresh new batch of corporate results and take a few cues from the RBA’s August policy minutes.
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The central bank kept the cash rate at 4.35 per cent at the August meeting, with members noting inflation had eased from its March peak.
The ASX 200 is up 0.6 per cent today, with the market also getting a lift from a new record high for mining heavyweight BHP. It touched $68.22 intraday and is up 1 per cent overall, while Rio Tinto and South32 are also gaining as copper optimism supports the miners. In the energy space, Woodside is up 2.4 per cent after reporting a 7 per cent lift in first-half net profit before one-off items, helped by higher commodity prices.
Healthcare is leading the market today, with Ansell up 7 per cent after yesterday’s sharp rally, following a stronger than expected earnings outlook for the year ahead. CSL is adding another 2.5 per cent, taking its gains this month to almost 50 per cent.
The banks are also higher, led by insurers. Suncorp has climbed 6.1 per cent and Insurance Australia Group is up 5.2 per cent.
Meanwhile, Coles is under the spotlight following its full-year result, reporting a $1.1 billion dollar annual profit. It experienced food sales momentum improving towards the end of the financial year, but weaker performance in its Liquorland division.
Aurizon has announced a $250 million share buyback, with the rail operator citing its financial performance, cash generation and balance sheet as supporting the capital return.
In tech, WiseTech Global has appointed former Oracle and SAP executive Tim Ebbeck as an independent non-executive director, with results due tomorrow.
And looking beyond the ASX, Bitcoin has pushed back above US$80,000, reaching its highest level since May as renewed optimism around the cryptocurrency market coincides with a weaker US dollar.
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