Woolies, Corp Travel sink after results update. Picture Getty1
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The ASX 200 closed -0.8% lower on Wednesday, tracking the selloff on Wall Street.
The Tech sector led, buoyed by a strong performance by Wistech (ASX:WTC), however the gains were offset by losses in Staples, Mining and Energy stocks.
Staples were dragged by the the fall in Woolworths (ASX:WOW) shares – see more below.
Mining stocks were also weaker, dragged down by BHP and Rio Tinto, which were down -3% each.
Meanwhile, today’s ABS data shows that Australia’s wage growth has overtaken inflation for the first time in three years. The wage price index (WPI) rose by 4.2% in the 12 months to December, versus the CPI rate of 4.1%.
Across the region, China stocks rallied after policymakers took further steps to rescue its battered stock market. China’s banks have cut their 5-year mortgage loan prime rate by a record 25 basis points.
Looking ahead to tonight’s session on Wall Street, the market’s focus will be on Nvidia Corp’s much anticipated earnings release.
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| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| LTR | Liontown Resources | 1.03 | -7.40 | 11800466 | $2,701,874,659 |
| FBU | Fletcher Building | 3.70 | -6.09 | 658295 | $3,085,191,768 |
| CSL | CSL Limited | 289.51 | -5.08 | 709946 | $147,343,443,385 |
| IGO | IGO Limited | 6.90 | -3.57 | 2157437 | $5,414,464,863 |
| NIC | Nickel Industries | 0.63 | -3.46 | 3691387 | $2,785,776,422 |
| IFL | Insignia Financial | 2.23 | -3.26 | 848886 | $1,533,241,532 |
| SGR | The Star Ent Grp | 0.53 | -3.18 | 10386275 | $1,577,774,482 |
| SKC | Skycity Ent Grp Ltd | 1.91 | -3.05 | 236734 | $1,497,604,262 |
| SQ2 | Block | 102.27 | -2.78 | 57993 | $3,731,605,362 |
| HLS | Healius | 1.42 | -2.75 | 987752 | $1,056,427,548 |
| DYL | Deep Yellow Limited | 1.47 | -2.65 | 3239154 | $1,154,715,624 |
| FPH | Fisher & Paykel H. | 22.43 | -2.61 | 150839 | $13,448,683,596 |
| LFG | Liberty Fin Group | 4.20 | -2.55 | 30236 | $1,309,394,693 |
| CMW | Cromwell Prop | 0.41 | -2.41 | 639801 | $1,086,829,680 |
WiseTech (ASX:WTC) jumped 10% after reporting total revenue for the half of $500.4 million, up 32% on the pcp. Underlying NPAT was $128.4 million, up 5% on pcp. Interim dividend was declared at 7.70cps, up 17% on pcp. The company reconfirmed its FY24 guidance range for revenue of $1.04 billion–$1.095 billion, representing revenue growth of 27%–34%.
Wisetech has also increased its full year EBITDA margin guidance range to 44%-46%, due to H1 EBITDA margin strength.
National Australia Bank (ASX:NAB) rose 1% despite cash earnings tumbling almost 17% in the December quarter to $1.8 billion, due mainly to impairment charges. The bank’s revenue increased 1%, and statutory NPAT was $1.7bn. The bank’s net interest margin was slightly higher.
Domino’s Pizza Enterprises (ASX:DMP) rose 3% as its Australia and NZ markets delivered their strongest growth in six years. Same store sales were up +1.25%. EBIT fell -5.3% to $107.9m vs the pcp. The company will pay an interim dividend of 55.5 cents per share (unfranked).
Scentre Group (ASX:SCG) released its results for the 12 months to 31 December, with Funds From Operations (FFO) of $1.094 billion (21.11 cents per security), up 5.2% on the previous year. Distributions for the period were $860.6 million (16.60 cents per security), up 5.4% and above guidance.
Swipe or scroll to reveal the full table. Click headings to sort.
| Code | Name | Price | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| WTC | Wisetech Global Ltd | 88.57 | 10.92 | 1,187,096 | $26,624,014,517 |
| COH | Cochlear Limited | 338.86 | 2.59 | 116,508 | $21,633,354,189 |
| SCG | Scentre Grp | 3.06 | 2.68 | 6,715,879 | $15,467,327,450 |
| LYC | Lynas Rare Earths | 5.92 | 2.78 | 2,417,059 | $5,383,839,375 |
| AUB | AUB Group Ltd | 31.45 | 3.11 | 493,513 | $3,306,371,410 |
| CSR | CSR Limited | 7.95 | 17.43 | 4,323,643 | $3,231,886,884 |
| ILU | Iluka Resources | 7.52 | 4.30 | 3,994,955 | $3,071,692,897 |
| VNT | Ventiaservicesgroup | 3.52 | 4.76 | 6,168,877 | $2,874,427,735 |
| DEG | De Grey Mining | 1.26 | 3.06 | 3,276,726 | $2,267,800,268 |
| CDA | Codan Limited | 9.66 | 15.00 | 1,050,197 | $1,523,055,349 |
| MMS | McMillan Shakespeare | 21.01 | 7.74 | 511,136 | $1,358,038,968 |
| RDX | Redox Limited | 2.52 | 3.07 | 159,686 | $1,281,198,684 |
| MAD | Mader Group Limited | 6.80 | 8.11 | 253,897 | $1,258,000,000 |
Corporate Travel (ASX:CTD) sank -20% despite tripling its net profits in H1. The company’s statutory NPAT rose 222% on pcp to $50.4m. The company said that macro issues seen in the first half have largely dissipated and are unlikely to impact the second half.
Woolworths Group (ASX:WOW) tumbled as first half F24 result was mixed. Group sales were 4.4% higher and group NPAT was 2.5% higher to $929m. But BIG W had a challenging first half. H1 EBIT for Big W was $54 million, down 60% on the prior year.
Santos Ltd (ASX:STO) has delivered a record dividend to shareholders despite underlying annual profit falling by 42%. The oil producer says production guidance for 2024 is between 84 to 90 million barrels of oil equivalent (mmboe). Sales volume is expected to be between 87 to 93 mmboe.
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