By Oliver Gray
Investing.com - The S&P/ASX 200 added 11.30 points or 0.16% to 7,296.20 on Thursday as investors reacted to encouraging earnings reports but retreated in the afternoon following news about fresh conflict in Ukraine.
Among stocks, the biggest moves were seen in several companies reporting results. IPH Ltd (ASX:IPH) popped 9.19% after reporting higher revenues, Challenger Ltd (ASX:CGF) gained 6.65% following its first-half profit update. Tabcorp Holdings Ltd (ASX:TAH) also surged 3.88% following the company’s first-half results that revealed a rebound in activity.
Health Care shares led among the sectors, advancing 2.97%. CSL Ltd (ASX:CSL) lifted 4.27%, Sonic Healthcare Ltd (ASX:SHL) added 0.21%, Fisher & Paykel Healthcare Ltd (ASX:FPH) lost 0.37%, Ramsay Health Care Ltd (ASX:RHC) added 0.39%, Resmed Inc DRC (ASX:RMD) dipped 1.17% and Pro Medicus Ltd (ASX:PME) retreated 6.02%.
Wesfarmers Ltd (ASX:WES) finished 7.48% lower after the company trimmed its interim dividend in a set of disappointing results earlier in the session.
Technology companies retreated 2.9% collectively, with Block Inc (ASX:SQ2) down 5.73%, Zip Co Ltd (ASX:Z1P) falling 1.11%, Appen Ltd (ASX:APX) down 2.03%, Megaport Ltd (ASX:MP1) losing 2.01%, Novonix Ltd (ASX:NVX) shedding 3.83%, Brainchip Holdings Ltd (ASX:BRN) down 2.74%, Xero Ltd (ASX:XRO) dipping 2.34%, Wisetech Global Ltd (ASX:WTC) falling 1.725 and Codan Ltd (ASX:CDA) down 6.55%.
On the data front, Australia added 12,900 jobs in January to hold the jobless rate at 4.2%, unchanged from the previous month and in line with analyst expectations, while remaining at the lowest level since August 2008 as COVID-19 lockdowns were lifted were lifted across the country.
On the bond markets, yields dipped after unconfirmed news reports that Russian-backed rebels in eastern Ukraine had accused the Kyiv government of shelling their territory. Australia 10-Year rates were at 2.203%, while United States 10-Year yields were at 1.991%.
In New Zealand, the NZX 50 added 1.11% to 12,257.