ASX gains 0.7pc; uranium stocks surge; City Chic dives
Key Posts
Woolworths taking lower margins amid inflation, CEO says
Kerr Neilson to leave Platinum, says no plans to decrease holding
Hipages shares down on outlook
Downer EDI wins $250m contract for City of Gold Coast’s water and sewerage
MA Financial guidance intact
Zip posts $1 billion loss, bad debts reach $276.1 million
ASX rises 0.7pc
The S&P/ASX 200 rose 0.7 per cent, or 50 points, to 7048.1 points and the All Ordinaries firmed by a similar margin to 7291.9.
Insignia Financial, formerly known as IOOF, was the standout profit result climbing 11.4 per cent to $3.53. Underlying profit after tax was $234.5 million, an increase of 59 per cent, as it realised the scale added by its blockbuster acquisition of National Australia Bank’s MLC Wealth last year.
Qantas Airways rose 7.1 per cent to $4.86 after a better-than-expected result that delivered a $400 million share buyback. Fuel costs for financial 2023 are forecast at $5 billion.
Iron ore futures traded in Singapore rose 1.5 per cent to $US105.20 a tonne. BHP Group added 0.7 per cent to $42.19.
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