Australian shares continued their upward trend, driven by positive earnings reports and a cooling US labor market. Gold prices remained near record highs, and bitcoin also appreciated. However, several companies, including Megaport, Collins Foods, and G8 Education, experienced significant share price declines after releasing disappointing financial results. On the positive side, Medibank, Bank of Queensland, and Super Retail reported strong financial performance.
At 11:35am, the S&P/ASX 200 is 0.27 per cent higher at 8,031.80.
The SPI futures are pointing to a rise of 33 points.
Best and worst performers
The best-performing sector is Information Technology, up 1.44 per cent. The worst-performing sector is Utilities, down 0.43 per cent.
The best-performing large cap is WiseTech Global (ASX:WTC), trading 6.3 per cent higher at $118.75. It is followed by shares in Whitehaven Coal (ASX:WHC) and Mineral Resources (ASX:MIN).
The worst-performing large cap is Meridian Energy (ASX:MEZ), trading 1.85 per cent lower at $5.85. It is followed by shares in Telix Pharmaceuticals (ASX:TLX) and Medibank Private (ASX:MPL).
Commodities and the dollar
Gold is trading at US$2548.70 an ounce.
Iron ore is 2.9 per cent higher at US$97.90 a tonne.
Iron ore futures are pointing to a 0.96 per cent rise.
One Australian dollar is buying 67.39 US cents.