Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

ASX 200 Rebounds 0.2%, Block Surges 36% after Results

Published 25/02/2022, 11:45 am
Updated 25/02/2022, 11:55 am
© Reuters

© Reuters

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 14.1 points or 0.2% to 7,004.70 in Friday’s midday deals, partially retracing declines of 3% in the previous session as investors tracked a strong lead on Wall Street overnight as technology companies rallied despite yesterday’s Russian invasion of Ukraine.

ASX 200 Futures were pointing 0.81% lower.

Among stocks,Technology companies were most improved, surging 8.64% collectively. Appen Ltd (ASX:APX) rebounded 8.02%, Megaport Ltd (ASX:MP1) lifted 5.57%, Brainchip Holdings Ltd (ASX:BRN) gained 6.9%, Altium Ltd (ASX:ALU) lifted 3.64%, Wisetech Global Ltd (ASX:WTC) added 5.15% and Codan Ltd (ASX:CDA) gained 3.79%. Block Inc (ASX:SQ2) surged 36.39% after the company reported an EPS of $US27 cents versus $US22 cents expected. Despite this, Block Inc (NYSE:SQ) U.S. shares fell 4.5% in after-hours trade.

Real estate stocks also gained 1.15% with Mirvac Group (ASX:MGR) adding 0.39%, Goodman Group (ASX:GMG) up 1.85%, Stockland Corporation Ltd (ASX:SGP) adding 1.2%, Scentre Group Ltd (ASX:SCG) up 2.34% and Lend Lease Group (ASX:LLC) adding 1.14%. Charter Hall Group (ASX:CHC) also added 3.25% after strong results as Chief executive David Harrison noted that “Charter Hall’s strategy of partnering with tenant and investor customers continues to deliver strong returns for security holders.”

Materials were slightly lower overall, with Rio Tinto Ltd (ASX:RIO)down 0.51%, BHP Billiton Ltd (ASX:BHP) falling 1.03%, Fortescue Metals Group Ltd (ASX:FMG) adding 1.08%, Arizona Lithium Ltd (ASX:AZL) up 6.365, Magnis Resources Ltd (ASX:MNS) adding 5%, Lynas Rare Earths Ltd (ASX:LYC) gaining 3.13% and Avz Minerals Ltd (ASX:AVZ) up 4.26%.

Financials traded down about 0.2% collectively, with Macquarie Group Ltd (ASX:MQG) up 1.76%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 0.67%, National Australia Bank Ltd (ASX:NAB) falling 1.19%, Westpac Banking Corp (ASX:WBC) slipping 0.86% and Commonwealth Bank Of Australia (ASX:CBA) up 0.21%.

Among other reporting stocks, Brambles Ltd (ASX:BXB) was down 0.61% despite strong results, reporting an 8% rise in revenue to $2.766 billion while net profit rose 3% to $304.8 million. The company also upgraded its sales and earnings guidance for the year, but warned of ongoing lumber inflation and global supply chain disruptions.

On the bond markets, Australia 10-Year rates were at 2.249%, while United States 10-Year yields were at 1.972%.

In new Zealand, the NZX 50 rebounded 1.61% to 11,922.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.