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The Australian share market is slipping 0.3% in early trade on Thursday, following the weak lead from Wall Street. Eight of 11 sectors are losing ground. Consumer staples -1.4% is down most, while health care +0.5% is best.
Qantas reported its lowest annual profit in four years after the Iran war sent the price of fuel soaring. Underlying pretax profit fell 14% to $2.06bn in FY26. The net impact of the Iran conflict was $420m, according to the company.
Wesfarmers reported FY26 net profit of $2.87bn, -2% YoY, but ex. significant items, +8.3% - slightly above market estimates. Final dividend was $1.20 a share. Says that first 7 weeks of FY27, Bunnings sales growth was slightly stronger vs 2H26, while K-Mart’s were inline.
The Australian sharemarket is set to open slightly lower, with index futures -0.1%. It comes after Wall St hit the pause button, with the S&P 500 finishing flat and the Nasdaq down 0.1%, after inflation data that were in line with estimates.
