Australia Market extends gain

25 Aug 2022 , 05:05 PM

Australia share market finished higher for second straight session on Thursday, 25 August 2022, as a slew of positive earnings reports boosted sentiments. However, market gains were limited as investors took to the sidelines ahead to Fed Chair Jerome Powells speech at the central banks economic symposium at Jackson Hole, Wyoming on Friday, for clues about the banks outlook for the economy and interest rates. At closing bell, the benchmark S&P/ASX200 index rose by 50 points, or 0.71%, to 7,048.13. The broader All Ordinaries index added 49.61 points, or 0.69%, to 7,291.95. Shares of Uranium companies advanced on reports that Japan is looking at developing next-generation nuclear reactors to stabilize energy supply. Paladin Energy soared 11.6% and Deep Yellow climbed 18.3%. Shares in South32 gained 0.8%, after the miner posted a more than fivefold jump in annual profit. Pendal Group shares surged 10.7%, after the company disclosed a takeover offer from Australian asset manager Perpetual. Qantas rose 7.1% after the airline said its financial performance improved in the second half. Shares of media firm Nine Entertainment rallied 9% on share buyback-news. Woolworths dropped 4.6% after the retailer posted a nearly flat annual profit on supply chain snarls and team absenteeism.Powered by Capital Market – Live News