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Australian Shares Lift 0.1%, Block Sheds 6.2% After Results

Published 05/08/2022, 10:56 am
Updated 05/08/2022, 11:00 am
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 added 17.2 points or 0.3% to 6,992.1 after the first hour of Friday’s session, following two consecutive days of sideways trade as rallying gold miners were tempered by declining energy companies, while Block retreated after releasing earnings results overnight.

ASX 200 Futures were pointing 0.1% higher.

Among stocks, S&P/ASX 200 Energy fell 1.8% collectively, with Woodside Energy Ltd (ASX:WDS) down 2.6%, Santos Ltd (ASX:STO) falling 1%, Beach Energy Ltd (ASX:BPT) dipping 3.1% and Viva Energy Group Ltd (ASX:VEA) falling 1.9%.

Information Technology was down 0.4% as Block Inc (ASX:SQ2) shed 6.7% after earnings, as the company flagged moderate gross payment volumes. Meantime, Appen Ltd (ASX:APX) lifted 1.1%, Megaport Ltd (ASX:MP1) fell 1.2%, Link Administration Holdings Ltd (ASX:LNK) added 0.7%, Novonix Ltd (ASX:NVX) gained 7.8% and Brainchip Holdings Ltd (ASX:BRN) lifted 1.8%.

Materials were 0.8% higher as Rio Tinto Ltd (ASX:RIO) added 1.3%, BHP Group Ltd (ASX:BHP) gained 0.8%, Fortescue Metals Group Ltd (ASX:FMG) lifted 0.7% and Champion Iron Ltd (ASX:CIA) gained 2.4%.

Gold miners also rallied as spot prices lifted, with St Barbara Ltd (ASX:SBM) up 2.5%, Gold Road Resources Ltd (ASX:GOR) adding 2.3%, Northern Star Resources Ltd (ASX:NST) up 3.6% and Perseus Mining Ltd (ASX:PRU) up 2.9%.

On the bond markets, Australia 10-Year rates were at 3.116% while United States 10-Year yields were at 2.685%.

In New Zealand, the NZX 50 traded flat at 11,730.4.

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