Market Wrap / record reload

A proposed Hormuz deal between Iran and the US offset losses on Wall Street to boost the Australian sharemarket to a new record closing high. The S&P/ASX 200 outperformed its Asian peers, rising 0.47% to 9,271.60 points. Gold miners led the index higher as the price of bullion climbed to a seven week high, with Evolution Mining adding 4.7% over the session. Company reports came in hot and fast, headlined by AMP reporting a 33% surge in half-year net profit to $174 million. The share price increased 6% as the group announced a $150 million on-market buyback REA followed suit, finishing in the green after reporting an 11% increase in revenue. Elsewhere News Corporation delivered record revenue for the year, gaining 4% with earnings up 15% to US$1.6 billion. Amongst the laggards, Block shed 1.6% despite gross profit rising 25% year on year. Beach Energy also closed marginally lower despite returning to profit, reporting net profit of $281.4 million compared with a loss a year earlier. Away from earnings, Commonwealth Bank has appointed former CSR chief executive Julie Coates to its board as an independent non-executive director, effective September 1st. Tonight, US unemployment data is due out of the states along with key energy and space exploration earnings.