Financial sector contributed the most to the index uplift, with National Bank (NAB) is leading the way with its share price up 2% on its FY19 earnings release. Australia's third largest bank by market capitalisation announced a 10.6% slide in cash earnings of $5.1 billion. Its final dividend was also cut to A$0.83/share. Westpac (WBC) and Commonwealth Bank (CBA) were both also higher while ANZ Bank (ANZ) is mostly flat.
Accounting software firm, Xero (XRO) was higher by 6% on its half yearly earnings where operating revenue rose 32% to A$338.7 million with a 30% jump in total subscribers to over 2 million. XRO also managed a net profit of A$1.3 million after running a loss of A$28.5 million last year.
James Hardie (JHX) shares rose 6% after impressed investors with its earnings update. JHX revenue lifted up 2% and net profit climbed 18%.
ZipCo (Z1P) surged 16% after agreeing to a deal with Amazon Australia as its first Australian instalment payment option provider.
Flight Centre (FLT) was one of the worst performers, sliding 5% with the travel agency experiencing a difficult start to the new financial year, expecting profits and revenue margins down on the year before.
CURRENCY NEWS: The Australian dollar, sensitive to shifts in broader risk appetite, was up against greenback. The Australian dollar changed hands at $0.6873 after slipping from levels above $0.690 in the previous session.
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