By Oliver Gray
Investing.com - The S&P/ASX 200 finished Friday’s session down 74.5 points or 1.02% at 7221.7, finishing the week just 0.06% higher as market participants digested a slew of corporate earnings reports while geopolitical tensions between Russia and Ukraine persisted.
Among stocks, significant price moves were seen in reporting companies. Qbe Insurance Group Ltd (ASX:QBE) dipped 8.7% after revealing profits that fell short of market expectations.
Meantime, Origin Energy Ltd (ASX:ORG) retreated 8.28% after it announced it was bringing forward the closure of its Eraring power plant by seven years.
Inghams Group Ltd (ASX:ING) also dipped 5.1% after CEO Andrew Reeves warned that the damaging impacts of the Omicron variant would be felt in its full-year results.
All sectors were lower today, with Health Care and Utilities down 2.72% and 3.7% respectively.
However, Magellan Financial Group Ltd (ASX:MFG) bucked the trend, surging 18.45% after reporting a 24% increase on net profits to $251.6 million, and an interim dividend of $1.10 compared to 97.1 cents last year.
On the bond markets, Australia 10-Year yields were at 2.241%, while United States 10-Year rates were at 1.984%.
In New Zealand, the NZX 50 fell 0.92% to 12,142.