Australia Market closes higher

23 Mar 2022 , 05:50 PM

The Australian share market finished session higher on Wednesday, 23 March 2022, on tracking overnight advances on Wall Street, with all sectors registered notable gains, exception being material sector.

At closing bell, the benchmark S&P/ASX200 advanced by 36.77 points, or 0.5%, to 7,377.87. The broader All Ordinaries index grew 44.29 points, or 0.58%, to 7,664.96.

Among individual shares, Fisher & Paykel shares slid 8% after announcing downbeat FY22 revenue guidance. healthcare product maker expects full year operating revenue to be in the range of A$1.675 billion and A$1.70 billion and guides elevated freight costs would weigh on its long term gross margin target of 65% by approximately 2.5%. Shares of FPH slid 7.9%.

Shares of Carnarvon Energy (CVN) – which came out of a trading halt today – rose as much as 34.4%, before settling to finish 14.1% higher. This is on the back of a ?significant oil discovery? at the Pavo-1 well, of which it holds a 30% interest in. The other 70% is owned by oil producer Santos (STO). Shares of STO fell 0.3%.

Shares of Uniti Group (UWL) surged 10.7% before entering into a trading halt. The trading halt was requested by UWL, citing potential media speculation around a recent proposal offer.

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