ASX closes 0.23% higher: Woolies tumbles 4.2%

By Peter Milios | More Articles by Peter Milios

At the closing bell, the S&P/ASX 200 was 0.23 per cent higher at 7,587, as National Australia Bank exceeded analysts' expectations with a $3.55 billion cash profit, while US markets remained mixed following the Federal Reserve's decision to maintain interest rates and Chairman Powell's indication of unlikely further rate hikes. Meanwhile, Woolworths faced a 4.2 percent decline in shares after reporting lower-than-expected profits and anticipating increased costs, while Bapcor plummeted 23.9 percent due to downgraded profit forecasts attributed to consumers' reduced spending amid rising living expenses.


The Dow Jones futures are pointing to a rise of 152 points.

The S&P 500 futures are pointing to a rise of 26.25 points.

The Nasdaq futures are pointing to a rise of 110 points.

The SPI futures are up 26 points.

Best and worst performers

The best-performing sector was Information Technology, up 0.96 per cent. The worst-performing sector was Consumer Staples, down 2.46 per cent.

The best-performing large cap was Qube Holdings (ASX:QUB), closing 6.71 per cent higher at $3.50. It was followed by shares in Amcor (ASX:AMC) and Meridian Energy (ASX:MEZ).

The worst-performing large cap was Woolworths Group (ASX:WOW), closing 4.15 per cent lower at $30.50. It was followed by shares in AGL Energy (ASX:AGL) and Coles Group (ASX:COL).

Asian markets

Japan's Nikkei has lost 0.10 per cent.

Hong Kong's Hang Seng has gained 2.29 per cent.

China's Shanghai Composite has lost 0.33 per cent.

Commodities and the dollar

Gold is trading at US$2,327.10 an ounce.

Light crude is trading $0.62 higher at US$79.62 a barrel.

One Australian dollar is buying 65.45 US cents.

About Peter Milios

Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.

View more articles by Peter Milios →