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The S&P/ASX 200 edged up 0.3% to 8,943 on Monday, building on last week’s strong advance as investors positioned ahead of a heavy corporate earnings schedule and the release of minutes from the Reserve Bank of Australia’s latest meeting.
Retailer JB Hi-Fi climbed 5.1% after reporting a 7% increase in sales, which drove first-half profit to $306 million. A2 Milk jumped 8.3% to a near one-month high after posting a stronger half-year net profit of $112 million and upgrading its sales growth outlook to mid–double-digit gains. GPT Group added 0.3% after reporting a full-year profit of $981 million.
On the downside, BlueScope Steel slipped 1.2% despite more than doubling its first-half earnings, while Bendigo & Adelaide Bank fell 1.4% even as it delivered a higher statutory first-half profit.
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Attention now turns to a new wave of earnings reports in the coming days from BHP Group, Santos, Rio Tinto, and Goodman, as well as the RBA’s policy meeting minutes due on Tuesday.
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