The ASX 200 fought back from a slow start to finish 0.12% lower in Wednesday trade, as local stocks struggle for traction after hitting new record highs this month.

The major banks helped to drag the index higher, as the ASX 200 Financials index rose by ~0.8% after two straight days for sharp falls.

That partially offset a rough session for the resources and materials sectors, as BHP slumped by around 7% following the release of its full-year results after markets-close on Tuesday.

BIG CAP WINNERS

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Gains at the big end of town were led by medical imaging company Pro Medicus (ASX:PME), which jumped sharply following the release of its full-year results.

The company reported a 33.7% increase in net profits to $30.7m, and flagged a strong pipeline of additional contracts after recording revenue growth across all of its major jurisdictions in North America, Europe and Australia.

Also rising strongly was the Domino’s Pizza (ASX:DMP) pizza network, which navigated some COVID-19 related challenges to open 285 new stores in the year and book a 27.2% increase in earnings to $293m.

And molecular radiation company Telix Pharmaceuticals (ASX:TLX) finished on the winner’s list after announcing it has entered into a pan-cancer clinical collaboration to conduct combination studies with global pharma giant Merck.

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Among the laggards, automotive parts company Bapcor (ASX:BAP) dipped after releasing its full-year results.

The company flagged a 50% increase in net profit after tax to $118m.

It said it expects to deliver pro-forma earnings of at least the same level in FY22, however ‘this is dependent on the extent of lockdowns and other government-imposed restrictions”, the company said.

Also falling on its full-year results announcement was superannuation and investment firm Netwealth (ASX:NWL).

The company reported a 23.9% increase in net profit after tax to $54.1m. After reporting funds under administration of $49.6bn as at June 30, NWL said it expects another $10bn of inflows in FY22.