Australia Stocks end 0.3% higher

The Australian share market closed higher on Thursday, 24 October 2019, , as investors' mood buoyed by tracking gains on Wall Street overnight after upbeat corporate earnings results and amid expectations for domestic earnings to follow suit.. At closing bell, the benchmark S&P/ASX200 index was up 20.56 points, or 0.31%, to 6,693.65, while the broader All Ordinaries rose 18.47 points, or 0.27%, to 6,796.69.

JB Hi-Fi (JBH) surged by 6.8 per cent after handing down a 4.7 per cent lift in Australian sales growth over the past quarter. The retailer has also reaffirmed its sales guidance for the year despite a cautious consumer and challenging conditions for retailers.

 

The Star Entertainment Group (SGR) jumped 5.4 per cent after announcing a solid first half result and a lift in revenue.

Qantas (QAN) slipped 3.7 per cent despite posting record revenue over the 1Q. The airline expects profits to fall by up to $55m due to the Hong Kong protests and U.S. - China dispute.

CURRENCY NEWS: The Australian dollar declined against greenback on Wednesday. The Australian dollar, sensitive to shifts in broader risk appetite, changed hands at 68.45 US cents, falling from highs of 68.6 earlier in the day.

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