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Australian shares tick higher as tech leads gains

Published 14/02/2023, 04:29 pm
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By Oliver Gray 

Investing.com - The S&P/ASX 200 lifted 13.1 points or 0.2% to 7,430.9 during Tuesday’s trade, partially retracing losses of 0.6% in the previous session as market participants monitored a batch of local earnings results ahead of closely watched U.S. CPI data due later in the session.

Among stocks, Information Technology led the gains, rising 1.3% as Block Inc (ASX:SQ2) lifted 3.1%, Megaport Ltd (ASX:MP1) added 2.9% and Wisetech Global Ltd (ASX:WTC) gained 3.2%.

The real estate sector also lifted 0.6% as Goodman Group (ASX:GMG) added Charter Hall Group (ASX:CHC) gained 0.2%, while Mirvac Group (ASX:MGR) added 0.5%.

In company news, Simms Metal Management Ltd (ASX:SGM) lifted 6.8% despite reporting a 60% decline in half year profits.

Star Entertainment Group Ltd (ASX:SGR) also dropped 13.3% after the company flagged a $1.6 billion hit from planned new casino taxes yesterday.

On the bond markets, Australia 10-Year rates were at 3.745%.

In New Zealand, the NZX 50 finished flat at 12,074.5.

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