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ASX finishes up as WiseTech, healthcare soar

Boy hitting a jump with his toboggan
The ASX slid at the open on Wednesday. Image: Getty

The benchmark S&P/ASX200 (^AXJO) finished 0.72 per cent higher on Wednesday at 6,167.60 points, while the All Ordinaries index (^AORD) also etched a 0.72 per cent gain.

That took the broader index to 6,314.10 points by the close.

WiseTech (WTC.AX) led the charge with shares finishing one third higher after it it announced its full-year revenue was up 23 per cent, and its earnings were up 17 per cent.

“Covid-19 market disruptions have provided a long-term tailwind for growing our market share as the need for digitisation across the global logistics execution market accelerates and significantly increases the value and demand for CargoWise,” chief executive Richard White said.

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Domino’s (DMP.AX) was also a big mover as Covid-19 movement restriction lifted the pizza chain’s profits by one fifth.

“Customers want high-quality meals, delivered fast, ordered online, for an affordable price – COVID-19 has not changed these dynamics,” Domino’s chief executive Don Meij said.

“We would not have been able to serve our communities without our team, the store footprint we have built, and the investments we have made in an online ordering platform that has handled record traffic.”

Healthcare, information technology and consumer technologies were the strongest sectors of the day.

What happened at midday?

The ASX200 was 1.00 per cent higher in midday trade, taking it to 6,184.60 points as software maker WiseTech shares hit a high note.

The All Ordinaries was also up 0.96 per cent to 6,328.90 points.

The information technology sector was 2.51 per cent higher while healthcare was up 4.81 per cent. In fact, all bar two sectors were in the green with materials and the S&P/ASX200 A-REIT the only two sliding.

What happened this morning?

The ASX200 had a soft open on Wednesday, despite the S&P500 hitting an astounding record overnight.

The 0.17 per cent growth took the benchmark index to 6,136.40 points at 10:23am AEST.

The All Ordinaries also opened 0.23 per cent higher, taking it to 6,283.10 points.

ANZ this morning reported a statutory profit of $1.3 billion for the June quarter and will pay an interim dividend of 25 cents per share, fully franked.

A2 Milk also recorded a 33 per cent jump in revenue over the 2019-20 financial year as China sales drove even more growth.

What happened last night?

The S&P500 finished at a record high on Tuesday local time, marking an incredible recovery from the Covid-19 sell-off. The government’s stimulus packages injected trillions of dollars into the economy and Wall Street, with the S&P 500 now at 3,389.78 points after gaining 0.23 per cent.

It marks an increase of 55 per cent since March.

The Dow Jones Industrial Average fell 66.84 points, or 0.24 per cent while the Nasdaq Composite added 81.12 points, or 0.73 per cent, to 11,210.84.

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