Australia Market extends gain

Australia stock market finished session modestly higher on Thursday, 08 February 2024, extending yesterdays gain, as investor sentiment underpinned on tracking positive cues from Wall Street overnight, with shares of tech, utilities, realty, and financial sectors led rally.

At closing bell, the benchmark S&P/ASX200 index advanced 23.41 points, or 0.31%, to 7,639.25. The broader All Ordinaries index climbed up 24.31 points, or 0.31%, to 7,875.17.

Total 6 of 11 sectors ended higher along with the S&P/ASX 200 Index. Information Technology was the best performing sector, gaining +1.18%, followed by utilities (up 0.97%), A-REIT (up 0.74%), and financial (up 0.88%). Energy was the worst performing sector, falling 0.52%, followed by consumer staples (down 0.45%).

 

The top performing stocks in S&P/ASX200 index were AGL ENERGY. and LIONTOWN RESOURCES, up 10.28% and 6.32% respectively. The bottom performing stocks in S&P/ASX200 index were REA GROUP and MAGELLAN FINANCIAL, down 4.18% and 2.97% respectively.

Shares of big four banks all rallied, with shares in CBA up 1.15%, NAB up 1.03%, Westpac up 0.58% and ANZ up 0.84%.

AGL surged 10.3% after the energy and gas retailer reported a half-year underlying net profit of $399 million and upgraded its full-year earnings guidance towards the top end of its forecasts. It marks a sharp turnaround from its $1.26 billion loss last financial year.

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