The Australian share market closed flat on Wednesday, with consumer staples offsetting losses in commodity stocks. Woolworths’ strong earnings boosted the consumer staples sector, while lower iron ore and uranium prices weighed on mining and energy stocks. Despite a mixed trading session, investors were generally optimistic about the market’s overall direction, with several companies reporting positive financial results.
Futures
The Dow Jones futures are pointing to a rise of 13 points.
The S&P 500 futures are pointing to a rise of 0.5 points.
The Nasdaq futures are pointing to a fall of 14 points.
The SPI futures are up 3 points.
Best and worst performers
The best-performing sector was Consumer Staples, up 1.4 per cent. The worst-performing sector was Energy, down 1.41 per cent.
The best-performing large cap was ResMed (ASX:RMD), closing 5.57 per cent higher at $35.45. It was followed by shares in Worley (ASX:WOR) and Lynas Rare Earths (ASX:LYC).
The worst-performing large cap was Telix Pharmaceuticals (ASX:TLX), closing 5.91 per cent lower at $18.79. It was followed by shares in Ramsay Health Care (ASX:RHC) and Spark New Zealand (ASX:SPK).
Asian markets
Japan’s Nikkei has gained 0.22 per cent.
Hong Kong’s Hang Seng has lost 0.97 per cent.
China’s Shanghai Composite has gained 0.16 per cent.
Commodities and the dollar
Gold is trading at US$2,541.20 an ounce.
Iron ore is 1 per cent higher at US$101.10 a tonne.
Iron ore futures are pointing to a 0.13 per cent rise.
Light crude is trading $0.02 higher at US$75.55 a barrel.
One Australian dollar is buying 67.83 US cents.