The local share market has started the second week of earnings season on the right foot, clawing back more losses from the big sell-off a week ago.
The benchmark S&P/ASX200 index on Monday finished up 36 points, or 0.46 per cent, to 7,813.7, while the broader All Ordinaries gained 37.8 points, or 0.47 per cent, to 8,028.5.
Capital.com analyst Kyle Rodda said the trading was a stark contrast to the previous week, when the ASX200 last Monday tumbled 3.7 per cent , its worst single-day drop since early in the pandemic.
The biggest overseas data-point that investors will be watching for this week is July inflation, to be released Wednesday night, Australian time.
Nine of the ASX's 11 sector finished higher on Monday, with energy and materials down about half a per cent.
The consumer discretionary and tech sectors were the biggest gainers, both rising 1.9 per cent, with the former boosted by strong earnings results from JB Hi-Fi.
Its shares soared 8.3 per cent to an all-time high of $72.98 after the home appliance and consumer electronics retailer announced it would pay a special dividend to shareholders after making a $438.8 million profit in 2023/24, down 16 per cent from the previous year but better than analysts had expected.
E&P Capital retail analyst Phillip Kimber said it was overall a good result that showed particularly strong trading in the June quarter and into July.
Other retailers rose as well, with Harvey Norman gaining 3.7 per cent, Rebel and Supercheap Auto owner Super Retail Group adding 5.0 per cent and K mart and Bunnings owner Wesfarmers rising 1.6 per cent.
On the flip side, Beach Energy sunk 12.6 per cent to a two-and-a-half year low of $1.245 after the Kerry Stokes-backed gas producer scaled back its estimate of its proven and probable gas reserves.
Chief executive Brett Woods said a pressure decline at Beach's Enterprise gas field in Victoria near Port Campbell had led to the revision.
In industrials, Aurizon dropped 8.8 per cent to a more than one-year low of $3.345 after the rail operator delivered a $406 million full-year net profit, up 11 per cent from last year but below analysts' expectations.
“The business continues to be resilient, operationally and commercially, as we diversify our customer base and extend our customer service offering along the supply chain," said chief executive Andrew Harding.
In the communications sector, CAR Group grew 4.5 per cent to a three-week high of $35.14 after the carsales.com owner announced its full-year operating earnings had grown 17 per cent to $581 million.
"CAR Group has had another great year," said chief executive Cameron McIntyre.
"We have achieved excellent financial results in FY24 with double-digit revenue and earnings growth in all of our key geographies."
In the heavyweight mining sector, Rio Tinto and Fortescue both dropped 1.4 per cent, to $114.88 and $18.24, respectively, while BHP dipped 0.5 per cent to $40.64.
All of the big four retail banks were higher, with NAB advancing 1.0 per cent to $35.99, ANZ adding 0.9 per cent to $28.22, CBA climbing 0.8 per cent to $130.53 and Westpac finishing 0.6 per cent higher at $28.22.
The Australian dollar was buying 65.84 US cents, from 66.02 US cents at Friday's ASX close.
ON THE ASX:
* The benchmark S&P/ASX200 index finished Friday up 36 points, or 0.46 per cent, at 7,813.7.
* The broader All Ordinaries rose 37.8 points, or 0.47 per cent, to 8,028.5.
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 65.84 US cents, from 66.02 US cents at Friday's ASX close
* 96.91 Japanese yen, from 97.13 Japanese yen
* 60.30 euro cents, from 60.42 euro cents
* 51.59 British pence, from 51.72 pence
* 109.53 NZ cents, from 109.50 NZ cents
