ASX rises; Altium shares climb 26pc; Coles tumbles 7pc
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ASX rises; Altium, Megaport shares soar; Coles tumbles 7pc
Sharp gains by the information technology sector pushed the Australian sharemarket in the green at the closing bell on Tuesday.
The benchmark S&P/ASX 200 index edged up 0.1 per cent, or 6.1 points to 7121.6.
Technology stocks were the best performing, climbing 5.2 per cent after taking its lead from Wall Street after the Nasdaq rallied ahead of Nvidia’s earnings result that are due on Wednesday.
Software company Altium surged 25.9 per cent, and Megaport jumped 16.9 per cent after both reported earnings. Large cap stocks WiseTech and Xero also finished in the green, up 2.8 per cent and 3.4 per cent, respectively.
The consumer staples sector was the worst performer, shedding 2.5 per cent. It was weighed down by Coles which tumbled 7.1 per cent after the supermarket chain posted earnings that were below expectations.
Rival Woolworths also recorded losses, its shares dropped 3 per cent.
BHP Group fell 0.7 per cent after its dividends and profit came in weaker than expected.
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