Profits up, guidance nup 🙅

Wall Street’s lead guided the ASX200 higher with market holding onto its early gains to close 0.45% higher at 7064. Earnings season is well and truly underway now, with some heavy hitters handing down results. JB Hi-Fi delivered a solid set of full year numbers but skipped on guidance, so the stock cut 1% for the session. Meanwhile, Bendigo and Adelaide Bank reported and warned of slowing loan growth, with investors pushing its shares nearly 9% lower for the day. BlueScope Steel didn’t quite live up to expectations. But the numbers were very strong and the company painted a picture of strong steel demand going forward. Its shares jumped 3.9%. Beach Energy was also punished despite reporting roaring revenues after delivering a disappointing dividend. Carsales shares gained 5.8% after posting profits at the top end of its guidance. Tomorrow, BHP is the big one. Challenge, Life 360 and Seek are also on the docket. 

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