The ASX200 closed the day, up nearly a third of a per cent with energy driving the market with a near two per cent run.
Energy rallied as oil prices lifted amidst the festering Middle East hostilities.
In this bulletin, we’ll look at news from Bapcor, Karoon Energy, Sacgasco, BHP Group, Woolworths Group, and Gold Road Resources.
In the green
Vehicle parts distributor Bapcor (ASX:BAP) gained nearly six per cent on its half-yearly update.
The company now expects revenue to reach $1.02 billion, up two per cent year-on-year.
Its ‘Trade and Wholesale’ businesses reflected sales and earnings growth throughout the first half, with revenue up 3 per cent and EBITDA between 4 and 5 per cent higher.
BAP closed at $5.58.
Oil and gas explorer Karoon Energy (ASX:KAR) was up more than two and a half per cent thanks to December quarterly sales revenue lifting two per cent to above $315 million.
KAR closed at $1.95.
And despite no market announcement, $10 million market cap company Sacgasco (ASX:SGC) made the most of the Energy sector’s gains.
It spiked 30 per cent of its very low base today, to close the session at 1.3 cents.
In the red
BHP Group (ASX:BHP) took a hit of about 1 and a half per cent after it rejected media commentary that the Federal Court of Brazil had made a damages decision in relation to the 2015 Mariana Dam disaster. The dam was jointly operated by BHP Brasil’s Samarco and Vale.
Forty million cubic metres of tailings entered the Doce River, killing nearly 20 people and contaminating freshwater systems.
While media reports the Federal Court of Brazil has ruled on moral damages of US$9.7 billion, BHP claims it has not been served with the decision and has a provision relating to the incident of a much lower amount – US$3.7 billion.
BHP closed at $46.87.
Woolworths Group (ASX:WOW) was down nearly half a per cent throughout the session but recovered most losses by close after revealing its New Zealand Food operations are struggling.
The trading performance in New Zealand Food for the first half of the financial year is expected to be down 42 per cent from the previous year.
EBITDA for the first half is expected to be $65.7 million, impacted in part by the A$12 million cost associated with the 34-store rebrand to Woolworths New Zealand.
WOW closed at $36.19
And Gold Road Resources (ASX:GOR) shed more than 18 per cent after reporting December quarter gold production was down by nearly 16 per cent.
The company produced more than 74,650 (74,659) ounces of gold, down from nearly 88,670 (88,668) ounces in the September quarter.
It blames delays in accessing higher-grade ore from the open pit and labour shortages.
GOR closed at $1.39.