{"id":6147,"date":"2024-02-21T05:11:58","date_gmt":"2024-02-21T05:11:58","guid":{"rendered":"https:\/\/economicherald.net\/?p=6147"},"modified":"2024-02-21T05:11:58","modified_gmt":"2024-02-21T05:11:58","slug":"asx-large-caps-woolies-corp-travel-sink-on-results-wisetech-jumps-on-bullish-guidance","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=6147","title":{"rendered":"ASX Large Caps: Woolies, Corp Travel sink on results; WiseTech jumps on bullish guidance"},"content":{"rendered":"

ASX closes much lower after weak results from Woolies and Corp Travel
\nWisetech jumps after strong half results
\nAustralia\u2019s wage growth beats inflation<\/p>\n

\u00a0<\/p>\n

The ASX 200 closed -0.8% lower on Wednesday, tracking the selloff on Wall Street.<\/p>\n

The Tech<\/strong> sector led, buoyed by a strong performance by Wistech (ASX:WTC)<\/a><\/strong>, however the gains were offset by losses in Staples, Mining and Energy<\/strong> stocks.<\/p>\n

Staples were dragged by the the fall in Woolworths (ASX:WOW)<\/a><\/strong> shares \u2013 see more below.<\/p>\n

Mining stocks were also weaker, dragged down by BHP and Rio Tinto, which were down -3% each.<\/p>\n

Meanwhile, today\u2019s ABS data shows that Australia\u2019s wage growth<\/strong> has overtaken inflation for the first time in three years. The wage price index (WPI) rose by 4.2% in the 12 months to December, versus the CPI rate of 4.1%.<\/p>\n

Across the region, China stocks<\/strong> rallied after policymakers took further steps to rescue its battered stock market. China\u2019s banks have cut their 5-year mortgage loan prime rate by a record 25 basis points.<\/p>\n

Looking ahead to tonight\u2019s session on Wall Street, the market\u2019s focus will be on Nvidia Corp\u2019<\/strong>s much anticipated earnings release.<\/p>\n

\u00a0<\/p>\n

BIG CAP WINNERS<\/h2>\n

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Code Name Price % Change Volume Market Cap LTR Liontown Resources 1.03 -7.40 11800466 $2,701,874,659 FBU Fletcher Building 3.70 -6.09 658295 $3,085,191,768 CSL CSL Limited 289.51 -5.08 709946 $147,343,443,385 IGO IGO Limited 6.90 -3.57 2157437 $5,414,464,863 NIC Nickel Industries 0.63 -3.46 3691387 $2,785,776,422 IFL Insignia Financial 2.23 -3.26 848886 $1,533,241,532 SGR The Star Ent Grp 0.53 -3.18 10386275 $1,577,774,482 SKC Skycity Ent Grp Ltd 1.91 -3.05 236734 $1,497,604,262 SQ2 Block 102.27 -2.78 57993 $3,731,605,362 HLS Healius 1.42 -2.75 987752 $1,056,427,548 DYL Deep Yellow Limited 1.47 -2.65 3239154 $1,154,715,624 FPH Fisher & Paykel H. 22.43 -2.61 150839 $13,448,683,596 LFG Liberty Fin Group 4.20 -2.55 30236 $1,309,394,693 CMW Cromwell Prop 0.41 -2.41 639801 $1,086,829,680 <\/p>\n

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WiseTech (ASX:WTC)<\/a><\/strong> jumped 10% after reporting total revenue for the half of $500.4 million, up 32% on the pcp. Underlying NPAT was $128.4 million, up 5% on pcp. Interim dividend was declared at 7.70cps, up 17% on pcp. The company reconfirmed its FY24 guidance range for revenue of $1.04 billion\u2013$1.095 billion, representing revenue growth of 27%\u201334%.<\/p>\n

Wisetech has also increased its full year EBITDA margin guidance range to 44%-46%, due to H1 EBITDA margin strength.<\/p>\n

National Australia Bank (ASX:NAB)<\/a><\/strong> rose 1% despite cash earnings tumbling almost 17% in the December quarter to $1.8 billion, due mainly to impairment charges. The bank\u2019s revenue increased 1%, and statutory NPAT was $1.7bn. The bank\u2019s net interest margin was slightly higher.<\/p>\n

Domino\u2019s Pizza Enterprises (ASX:DMP)<\/a><\/strong> rose 3% as its Australia and NZ markets delivered their strongest growth in six years. Same store sales were up +1.25%. EBIT fell -5.3% to $107.9m vs the pcp. The company will pay an interim dividend of 55.5 cents per share (unfranked).<\/p>\n

Scentre Group (ASX:SCG)<\/a><\/strong> released its results for the 12 months to 31 December, with Funds From Operations (FFO) of $1.094 billion (21.11 cents per security), up 5.2% on the previous year. Distributions for the period were $860.6 million (16.60 cents per security), up 5.4% and above guidance.<\/p>\n

\u00a0<\/p>\n

BIG CAP LOSERS<\/h2>\n

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Code Name Price % Change Volume Market Cap WTC Wisetech Global Ltd 88.57 10.92 1,187,096 $26,624,014,517 COH Cochlear Limited 338.86 2.59 116,508 $21,633,354,189 SCG Scentre Grp 3.06 2.68 6,715,879 $15,467,327,450 LYC Lynas Rare Earths 5.92 2.78 2,417,059 $5,383,839,375 AUB AUB Group Ltd 31.45 3.11 493,513 $3,306,371,410 CSR CSR Limited 7.95 17.43 4,323,643 $3,231,886,884 ILU Iluka Resources 7.52 4.30 3,994,955 $3,071,692,897 VNT Ventiaservicesgroup 3.52 4.76 6,168,877 $2,874,427,735 DEG De Grey Mining 1.26 3.06 3,276,726 $2,267,800,268 CDA Codan Limited 9.66 15.00 1,050,197 $1,523,055,349 MMS McMillan Shakespeare 21.01 7.74 511,136 $1,358,038,968 RDX Redox Limited 2.52 3.07 159,686 $1,281,198,684 MAD Mader Group Limited 6.80 8.11 253,897 $1,258,000,000 <\/p>\n

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Corporate Travel (ASX:CTD)<\/a><\/strong> sank -20% despite tripling its net profits in H1. The company\u2019s statutory NPAT rose 222% on pcp to $50.4m. The company said that macro issues seen in the first half have largely dissipated and are unlikely to impact the second half.<\/p>\n

Woolworths Group (ASX:WOW)<\/a><\/strong> tumbled as first half F24 result was mixed. Group sales were 4.4% higher and group NPAT was 2.5% higher to $929m. But BIG W had a challenging first half. H1 EBIT for Big W was $54 million, down 60% on the prior year.<\/p>\n

Santos Ltd (ASX:STO)<\/a><\/strong> has delivered a record dividend to shareholders despite underlying annual profit falling by 42%. The oil producer says production guidance for 2024 is between 84 to 90 million barrels of oil equivalent (mmboe). Sales volume is expected to be between 87 to 93 mmboe.<\/p>\n

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The post ASX Large Caps: Woolies, Corp Travel sink on results; WiseTech jumps on bullish guidance<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

ASX closes much lower after weak results from Woolies and Corp Travel Wisetech jumps after strong half results Australia\u2019s wage growth beats inflation \u00a0 The [more…]<\/a><\/p>\n","protected":false},"author":0,"featured_media":6148,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nASX Large Caps: Woolies, Corp Travel sink on results; WiseTech jumps on bullish guidance - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicherald.net\/?p=6147\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX Large Caps: Woolies, Corp Travel sink on results; 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