Earnings, optimism enough to lift shares

Australian shares are up 2. 4 per cent since the current winning streak began on August 14, helped by a strong lead from the United States with the S&P 500 at an all-time high. "Shares continued to move up over the past week helped by a combination of good economic data in the US, expectations that central banks will remain supportive and as geopolitics took a back seat.

Energy was the best-performing sector over the week, up 3. 6 per cent. Origin Energy lifted 5. 6 per cent to $14. 84 despite showing a weak full-year profit on Thursday as the company shared a more optimistic outlook for this year.

Financial markets data provider IRESS Ltd was the best-performing stock in the ASX200 over the week, climbing 13. 6 per cent to $9. 97 after showing a 47. 9 per cent pick-up in underyling annual profit on Thursday.

Australia‘s biggest goldminer, Newcrest Mining, dipped 1. 4 per cent to $11. 04 over the week despite narrowly beating annual profit forecasts on Monday.

Read more here: SMH


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