Market Wrap / are we there yet?

The S&P/ ASX 200 was pulled in different directions this Thursday, but ended 0.2% higher at 8980 points. Company results once again led to strong share price volatility. Looking at the market leaders, IDP Education jumped 29.7% despite a revenue dip, with FY numbers better than expected.

Qantas soared 9.1% to a record high as FY25 underlying profit increased 15%. 

Wesfarmers closed fairly flat despite a surprise special dividend. On the negative side of the market, Telix Pharmaceuticals fell 18.7% as the US FDA flagged concerns over a product.

The miners were also in the red, with South32 especially suffering on revenue concerns, down 7.2%. The major banks ended the session higher however. And the tech sector was lower following Nvidia’s results overnight which left investors wanting more. Locally, WiseTech extended its losses. Tonight, we’ll get a read on the US GDP. Tomorrow will mark the official end of reporting season, with Pexa and Steadfast reporting.