The Australian sharemarket notched a third straight weekly gain, easing on Friday as investors took profits after strong corporate results pushed the index beyond 9000 points for the first time.

The S&P/ASX 200 Index rose 0.3 per cent for the week to 8967.40. On Friday, the benchmark lost 51.70 points, or 0.6 per cent as seven of the 11 index sectors retreated.

Near the halfway point in the reporting season, Morningstar market strategist Lochlan Halloway said the market is content with results so far.

“We’ve upgraded fair value estimates for about 40 per cent of stocks, a slightly higher proportion than in recent cycles. Downgrades, meanwhile, are contained at under 10 per cent. All up, a solid start, though there’s plenty to go.”

Consumer staples was the weakest sector as Inghams Group plunged 20.3 per cent to $2.83 after a 10.2 per cent drop in full-year net profit to $90 million. Its result and outlook were both below market expectations. Supermarket giant Coles fell 3.3 per cent to $20.85 ahead of its results on Tuesday.

Healthcare also retreated as CSL tumbled 4.2 per cent to $216.60, capping off a near 20 per cent decline for the week after a sharp earnings miss saw it record its worst one-day decline ever on Tuesday.

Stocks in focus

In company news, Guzman y Gomez dived 18.2 per cent to a record low close of $23.70 after results came in well below market expectations and concerns rose about its outlook.

Mortgage insurer Helia rallied 1.8 per cent to $5.73 after an 8 per cent jump in net profit despite warnings of a challenging outlook with the business.

Buy now, pay later operator Zip rocketed 20.2 per cent to $3.75 as it mulled a dual-listing of its shares on the Nasdaq to support growing investor interest in the US.

Accent Group dived 17.8 per cent to $1.37 after its 2025 financial year result was in line with guidance, but trading for 2026 is tracking below market expectations.

Monash IVF tanked 13.7 per cent to 69.5¢ after reporting underlying net profit of $27.4 million for the 2024-25 financial year. That was down 8.1 per cent on the prior year, but in line with guidance.

And James Hardie rebounded 5.2 per cent to $30.50 after crashing more than 30 per cent in the previous two sessions.

That’s a wrap on today’s news. Join us again soon for more live markets news.