The Australian share market dropped at the open, before clawing back some of its losses. At noon the ASX is tracking 0.1 per cent or 8.9 points higher at 7519.9. The SPI futures are pointing to a 1 point fall.
BHP and CSL were dragging after their earnings results, while Banks, Dominos Pizza and Telstra were ahead.
Major banks regained momentum with Commonwealth
(ASX:CBA) trading 1 per cent higher. Westpac
(ASX:WBC) is up 1.6 per cent, ANZ
(ASX:ANZ) is up 0.3 per cent and NAB
(ASX:NAB) is up 0.9 per cent.
Mobile network Telstra
(ASX:TLS) is trading 1.5 per cent higher at $3.99. Global pizza chain Domino's
(ASX:DMP) is trading 6 per cent higher at $134.49 following its FY21 results.
BHP
(ASX:BHP) is trading 6 per cent lower following last nights earnings results. Fortescue Metals
(ASX:FMG) is down 0.5 per cent, while Rio Tinto
(ASX:RIO) is up 1.1 per cent.
CSL
(ASX:CSL) is weighing down the Health Care sector, trading 1.8 per cent lower. Utilities is the best-performing sector, up 2.2 per cent.
In headlines, Coles and Tabcorp made gains following their earnings results. Coles
(ASX:COL) is trading 0.3 per cent higher and Tabcorp
(ASX:TAH) is trading 0.2 per cent higher.
NSW recorded 633 new Covid-19 cases, its highest daily number yet. Victoria recorded 24 new cases while Queensland recorded 0 new cases.
Local economic news The Australian Bureau of Statistics released their 'Wage Price Index, Australia' statement for the Jun quarter 2021. The seasonally adjusted WPI rose 0.4 per cent over the quarter and 1.7 per cent over the year. It also rose 0.5 per cent in the private sector and 0.4 per cent in the public sector.
Company news Australia's largest gambling company Tabcorp
(ASX:TAH), recorded total revenue of $5,686 million, up 8.8 per cent from the prior year.
Domino’s Pizza
(ASX:DMP) recorded total food sales of $3.74 billion for the period ending 30 Jun 2021 (FY21), up 14.6 per cent from the prior year.
Retail giant Coles
(ASX:COL) reports a net profit after tax of $1,005 million for the period ending 30 Jun 2021 (FY21), up 7.5 per cent from the prior year.
CSL
(ASX:CSL) reported net profit after tax of $2,375 billion, up 10 per cent from the prior year with revenue also up 10 per cent on a currency basis.
Best and worst performersThe best-performing sector is Utilites, up 2.2 per cent. The worst-performing sector is Materials, down 2.2 per cent.
The best-performing stock in the S&P/ASX 200 is Beach Energy
(ASX:BPT), trading 6.3 per cent higher at $1.10. It is followed by shares in Domino Pizza Enterprises
(ASX:DMP) and Pro Medicus
(ASX:PME).
The worst-performing stock in the S&P/ASX 200 is BHP Group
(ASX:BHP), trading 6 per cent lower at $48.24. It is followed by shares in Netwealth Group
(ASX:NWL) and Sims
(ASX:SGM).
Commodities and the dollarGold is trading at US$1789.00 an ounce.
Iron ore is 1.7 per cent lower at US$160.75 a ton.
Iron ore futures are pointing to a fall of 4.0 per cent.
One Australian dollar is buying 72.42 US cents.
