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Australia Market ends firmer

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Last Updated : Feb 27 2024 | 5:16 PM IST
Australia stock market finished in positive territory for second consecutive session on Tuesday, 27 February 2024, as gains in consumer staples, technology, energy, and financial stocks helped to offset losses in property trusts and healthcare stocks.

At closing bell, the benchmark S&P/ASX200 index was up 10.16 points, or 0.13%, to 7,663.01. The broader All Ordinaries index added 14.09 points, or 0.18%, to 7,922.22.

Total 6 of 11 sectors ended higher along with the S&P/ASX 200 Index. Consumer Staples was the best performing sector, gaining +2.15%, followed by information technology and energy sectors, rising 1.26% and 0.52%, respectively. A-REIT was bottom performing sector, falling 0.81%.

The top performing stocks in S&P/ASX200 index were REECE and HELIA GROUP, up 18.31% and 7.83% respectively. The top performing stocks in S&P/ASX200 index were JOHNS LYNG GROUP and WEEBIT NANO, down 13.19% and 11.91% respectively.

Among individual shares, Shares of Coles jumped 5.5% after the grocery giant said it grew its revenue in the December half by 6.8% to A$22.2 billion, thanks to successful sales for seasonal events such as Christmas, Halloween and Fathers Day, although profit fell 8.4% to A$589 million after one-off costs of divesting Coles Express.

Reece Group was up 18.3% after the plumbing supplier reported a 20 per cent rise in half-year net profit to A$224 million and declared an interim dividend of 8 per share.

Woodside shares gained 0.9% even after the oil and energy giant reported a 74% fall in annual profit as global fossil fuel prices retreated from historic highs.

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First Published: Feb 27 2024 | 2:05 PM IST

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