Market Wrap / warrant-ed worry

The Australian share market closed lower yet again for the sixth consecutive session with seven of the 11 sectors in the red.

The S&P/ASX200 fell 0.18% to 9053.8 points as hopes of a ceasefire remained elusive and global bond yields climbed to multi-year highs.

Tech stocks were bruised back home, tracking Wall Street’s overnight chip rout. The sector fell over 3%, led by WiseTech, which dropped 8.7% to a two-week low after the ACCC served the logistics software provider with a search warrant as part of a consumer law investigation. Hansen Technologies fell 21.2% after CEO Andrew Hansen stepped down following more than three decades at the helm, while NextDC and Data#3 also landed among the day’s big losers.

Consumer discretionary wasn’t spared, falling 0.7%, with Temple & Webster cratering almost 18% after annual profit plunged 62% to $4.3 million despite record revenue, as heavier spending on prices and promotions squeezed margins. Breville dipped 4.2% as earnings were crunched due to US tariffs and costs from moving manufacturing away from China.

It wasn’t all red. Healthcare was one of the few bright spots, with CSL extending yesterday’s gains alongside Sonic Healthcare.

Energy producer Santos was up 2.5% despite a 22% drop in profit, as the company expects a stronger second half with production forecast to rise 20-30% from H1.

On the flipside, Mirvac surged 6.3% after profit jumped to $558 million from $117 million, while Stockland rose 12.3% after FFO landed at the top end of guidance and settlements surged.

Fletcher Building ran up 8.8% after returning to profit in FY26, with the building materials maker reporting net earnings of $228 million. 

Tonight, the spotlight shifts to the Fed minutes, with Target, Lowe’s and Estée Lauder also stepping up to the earnings plate.