Market Wrap / reporting roar

The S&P/ASX 200 jumped 0.60% higher on Friday, to finish the last full week of reporting season in the green. The index was also higher over the past month. The tech sector extended Thursday’s gains as US investors remained positive on the Nvidia story. The local sector rose 2.45%, with Xero and TechnologyOne leading the charge. In data centres, NextDC gained 2.14% after saying revenue is expected to continue growing in FY27. A few more results came through. Lynas Rare Earths reported a significant lift in FY26 profit, with net profit surging to $222 million, shares fell 0.85%. Virgin Australia shed 1.42% despite reporting a 4.7% rise in FY26 profit to $501 million. The airline was almost fully hedged, helping it largely avoid the higher fuel costs that hit rivals. And Pexa tumbled 17.43% to a record low after issuing FY27 guidance that reflected ongoing uncertainty in the Australian housing market. Group revenue is expected to be lower than in FY26. Investors will now turn to the Jackson Hole Symposium, where Fed Chair Kevin Warsh is due to speak overnight.