• The ASX 200 bounced back on Tuesday
  • Woodside triples dividends
  • All 11 sectors finish in the green

Local shares reclaimed some of Monday’s losses, finishing the day 0.65% higher.

All 11 sectors finished in the green, led by by Tech and Energy which were up around 2% each.

Local investors shrugged off overnight’s movements on Wall Street, which suffered a third consecutive day of losses.

Woodside Energy (ASX:WDS) rose 1.5% after tripling its dividend payments.

Woodside said it will pay a fully franked dividend of 109 US cents per share on the back of a 400% surge in underlying NPAT of US$1.82 billion.

Energy stocks rose across the board as oil prices jumped 4% higher overnight on prospect that OPEC+ would cut its production.

Investors are still weighing US Fed Chairman Jerome Powell’s remarks on Friday, who confirmed that there won’t be a Fed pivot anytime soon.

Blerina Uruci, US Economist at T. Rowe Price, believes Powell’s comments translate into a potential terminal rate of 3.75% – 4% by the end of 2022.

“Keeping interest rates at 4% while there is a global growth slowdown or recession is very hawkish,” she said.

“The risks about next year are not one directional in my view.”

Meanwhile, the ABS released the often volatile building approvals data for July, showing that approvals to build private houses rose 0.7%, but for private sector dwellings, approvals plunged 43.5%.

In other markets, iron ore futures have dropped below US$100 a tonne in Singapore on renewed concerns over China’s COVID-19 situation. The Mining sector was mixed, finishing the day just 0.20% higher.

Looking ahead tonight, US home prices for June and job vacancies for July will be released, along with consumer confidence index for August.

BIG CAP WINNERS

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Finance company Omni Bridgeway (ASX:OBL) was the best performing large cap today, up 11%, after reporting a record annual commitments of $463.3 million, up 12% on pcp.

Full year NPAT was $6.5 million, up from an $18 million loss the previous year.

Healius (ASX:HLS) climbed almost 4% after reporting a 23% in full year revenue to $2.34 billion. Bottom line NPAT increased by 108% to $309 million, and a 6 cents dividend was declared.

Wisetech Global (ASX:WTC) rose 5% after responding to media reports of a potential acquisition.

In an ASX release, the company said:

“As stated in the recent results announcement on 24 August 2022, part of the company’s strategy is to continue to expand through tuck-in acquisitions and potential strategically significant acquisition opportunities. Consistent with this strategy, WiseTech continues to evaluate a number of opportunities.”

BIG CAP LOSERS

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Code Name Price % Change Volume Market Cap
AIZ Air New Zealand 1.195 -7% 8,414,384 $1,437,240,611
HVN Harvey Norman 5.35 -6% 3,316,171 $7,114,697,994
REH Reece Limited 19.07 -5% 312,991 $12,926,143,462
XRO Xero Ltd 102.69 -5% 509,672 $16,048,479,042
ABB Aussie Broadband 5.33 -4% 781,012 $1,325,937,261
SDR Siteminder 4.51 -4% 166,604 $1,280,148,360
SQ2 Block 186.46 -4% 180,811 $9,456,958,194
Z1P Zip Co Ltd. 1.475 -4% 13,247,467 $1,027,000,659
PMV Premier Investments 27.605 -4% 180,707 $4,559,920,272
JHX James Hardie Indust 40.58 -4% 2,382,629 $18,749,190,079
IFT Infratil Limited 7.49 -4% 26,104 $5,634,604,894
TLX Telix Pharmaceutical 4.14 -3% 812,484 $1,339,532,766
NAN Nanosonics Limited 3.93 -3% 487,425 $1,228,461,051
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