By Oliver Gray
Investing.com - The S&P/ASX 200 added 23.60 points or 0.31% to 7,592.80 during Thursday’s trade, closing near fresh all-time high valuations as market participants tracked a fresh batch of quarterly updates prior to the opening bell.
Among stocks, Industrials and Real Estate companies led the gains, with Brambles Ltd (ASX:BXB) finishing 8% higher as investors cheered a rosy outlook for profits in an update before markets opened. Goodman Group (ASX:GMG) gained 2%, Stockland Corporation Ltd (ASX:SGP) added 2.4% and Scentre Group Ltd (ASX:SCG) lifted 2%.
Tech shares struggled as bond yields remained near multi-year peaks. Megaport Ltd (ASX:MP1) tanked 21.6% after issuing a trading update that underwhelmed investors despite moderate revenue growth. Block Inc (ASX:SQ2) dropped 6.9%, Novonix Ltd (ASX:NVX) fell 2.3% and Wisetech Global Ltd (ASX:WTC) dipped 0.4%
Financials finished 1.1% higher with Australia and New Zealand Banking Group Ltd (ASX:ANZ) up 0.3%, National Australia Bank Ltd (ASX:NAB) adding 1%, Westpac Banking Corp (ASX:WBC) up 0.6% and Commonwealth Bank Of Australia (ASX:CBA) adding 1%. Challenger Ltd (ASX:CGF) also surged 9.8% after the company said financial-year profits would come in towards the higher end of prior forecasts.
On the bond markets, Australia 10-Year yields were at 3.081% while United States 10-Year rates were at 2.875%.
In New Zealand, the NZX 50 ended 0.1% lower at 11,954.