Market Wrap / record reach

The S&P/ASX200 reached a record high during Thursday's trade, rising 1.2% to 103.8 points.

Investors seemed overall optimistic as Trump’s focus shifted on the Middle East rather than tariffs. Still, the energy sector was lower while the banks led the gains. CBA shares rose 2.6%.

Increased oil supply from the US was bound to have a negative impact on local suppliers such as Woodside which lost ground in early trade but finished the day flat. Meanwhile, Beach Energy shares fell 5% after narrowing its FY guidance range.

Among other companies reporting, News Corp posted a 5% increase in second quarter revenue to US$2.24 billion. It rose 5.8% to a record high, making it one of the best performers on the market. 

Elsewhere, REA CEO Owen Wilson will retire after six years at the top job. REA reported a 20% rise in first-half revenue to $873 million, while net profit rose 26% to $314 million. 

Tonight, the Bank of England hands down its interest rate decision. In the US, all eyes will be on Amazon’s results. 

Locally tomorrow, results will include retailers Nick Scali and Cettire, while trade data today showed the Aussie surplus slightly receded last month, sending the Aussie lower.