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"Substance over style" 👗
Description
BHP delivered a bumper set of results, and of course, the overall market rose. Profits soundly beat estimates. And the company delivered a fatter dividend of $1.75. Its shares finished the session 4% higher.
It was a remarkably flat session after an initial rally at the open for the ASX200. The index finished 0.58% higher close at 7105. The corporate news is coming in thick and fast. James Hardie lowered its full year profit guidance and its shares dipped 0.9%. Goodman Group posted a 25% jump in operating profits but its share price fell on a murky outlook. Challenger shares were pummelled 10% lower after it posted a more than 50% drop in profit. Life360 led the market with a 5.45% gain following its results. We look forward to another big day for markets tomorrow. CSL reports half year profits, while Magellan and Brambles deliver full year results. The RBNZ meets and is expected to hike rates again. Locally, quarterly wage price data tops the economic calendar.
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