Cheesy grins for reporting wins 🍕

Wall Street’s lead was - shall we say – tepid at best. But materials and energy performed well and that flowed through to the ASX200 today. The local bourse closed 0.52% at 6998. The energy sector in particular outperformed, after a big drawdown in crude inventories was revealed in last night’s API inventory report. The gains were remarkably broad-based. And of course, the news flow was dominated by corporate full year results. Wisetech was the shooting star, rallying 12% after its profits lifted 72% and hit the top end of guidance. Of the blue-chips, investors were disappointed by Coles full year numbers with the stock dropping 4.7%. Profits rose 4.3%, however guidance was underwhelming. Huge volumes moved through Domino’s shares after it handed down its results. The company posted a drop in net profit and drummed-up how the company plans to tackle a higher inflation environment. The shares finished the day up 7.5%. In other companies to report, Worley posted top and bottom line growth, with the shares climbing more than 5% for the day. Seven Group shares climbed 2% as the company talked up its growth prospects. Looking ahead - not much on the corporate or economic calendar tonight. The focus remains on what might come out of Jackson Hole this weekend. Tomorrow, Woolworths, Whitehaven Coal, Qantas and Flight Centre. Our top three VODs:"The best result of reporting season"Three strong stocks not located in Silicon ValleyWinter is coming...equity investors need to be patient Hosted on Acast. See acast.com/privacy for more information.