Australian Shares up 0.2%, News Corp Reports
Investing.com
Published Feb 04, 2022 11:29
By Oliver Gray
Investing.com - The S&P/ASX 200 higher during Friday’s mid-morning deals, up 13.70 points or 0.19% to 7,091.70, retracing losses of 0.15% in the previous session and set to end the week 1.42% higher amid volatile trade as investors digested a slew of corporate earnings reports both locally and abroad, while rising long term bond yields continued to pressure the technology sector.
ASX 200 Futures were pointing 1.19% higher.
Among stocks, technology was most improved following yesterday’s 6% plunge, as sq2 added 0.73%, z1p lifted 2.06%, Appen Ltd (ASX:APX) gained 0.53%, Megaport Ltd (ASX:MP1) added 1.61%, Novonix Ltd (ASX:NVX) 0.3% Brainchip Holdings Ltd (ASX:BRN) gained 6.29%, Altium Ltd (ASX:ALU) dropped 0.61%, Computershare Ltd. (ASX:CPU) added 1.33%, Xero Ltd (ASX:XRO) gained 1.2% and Wisetech Global Ltd (ASX:WTC) lifted 0.8%.
REITs were higher, with Mirvac Group (ASX:MGR) up 0.38%, Goodman Group (ASX:GMG) adding 0.55%, Stockland Corporation Ltd (ASX:SGP) up 0.99% and Scentre Group Ltd (ASX:SCG) adding 0.34%.
Financials were mixed as Macquarie Group Ltd (ASX:MQG) added 1.26%, Commonwealth Bank Of Australia (ASX:CBA) lost 0.16%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) dipped 0.89%, National Australia Bank Ltd (ASX:NAB) lost 0.43% and Westpac Banking Corp (ASX:WBC) lifted 1.85%.
Materials were down 0.65% collectively as Rio Tinto Ltd (ASX:RIO) lost 1.05%, BHP Billiton Ltd (ASX:BHP) fell 1.11%, Fortescue Metals Group Ltd (ASX:FMG) eased 0.28%, Champion Iron Ltd (ASX:CIA) fell 0.52%, Pilbara Minerals Ltd (ASX:PLS) lost 0.3%, while Magnis Resources Ltd (ASX:MNS) and Avz Minerals Ltd (ASX:AVZ) added 2% and 0.69% respectively.
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Meantime, Rupert Murdoch’s News Corp (ASX:NWS) lifted 4.43% after reporting a 13% uptick in revenue to $A3.8 billion for the December quarter, driven by advertising sales as well as payments from its content deals with tech giants Google (NASDAQ:GOOGL) and Facebook (NASDAQ:FB). News Corp-owned real estate listings portal Rea Group Ltd (ASX:REA) also lifted 0.68% after posting strong earnings growth following a better than expected recovery from Melbourne and Sydney lockdowns. The company reported a 27% increase in the first half of the financial year to $368 million and a net profit increase of 31% to $226 million.
On the bond markets, Australia 10-Year rates were higher at 1.937% while United States 10-Year yields were near fresh 2-year highs of 1.836%.
In New Zealand, the NZX 50 was down 0.71% to 12,247.
Written By: Investing.com
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