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ASX200 flat; Webjet lifts on half-yearly results; Harvey Norman dips on trading update.

  • The ASX200 is flat at lunchtime, down just 0.5 points at 7410.10.
  • Webjet lifts on release of half-yearly results including revenue doubling.
  • Harvey Norman dip following trading update including declining revenue.

The Australian market is see-sawing today, having recovered from an early morning tumble to trade just 0.5 points lower at 7410.10 after lunchtime. Gold miners are leading losses on the ASX today, while the energy sector rallies just under 1.5% during the session so far.

The tech sector is trading 0.8% lower today as Technology One plummets 8.9% and Wisetech Global sheds 2.8%, while Link Administration Holdings is up 2.64%.

Bitcoin is trading 0.71% lower over the last 24-hours at US$56,464.24 at 1:30pm AEDT.

Webjet shares are lifting today after the online travel agent released half yearly results. For the six months ended September 30, Webjet reported TTV of $663m, up from $267m for the same period a year earlier, revenue more than doubled to $55.4m, positive working capital delivering $3.5m/month cash surplus, WebBeds cut costs by 31% compared to pre-COVID levels, and Webjet OTA returned to profitability in October 2021.

Making headlines, Harvey Norman shares are taking a hit today after the homewares retailer released a trading update. From 1 July 2021 to 21 November 2021, Harvey Norman reported revenue declined 8.8% from the prior corresponding period, and unaudited preliminary profit before tax and non-controlling interests fell 35.5% from the PCP to $217.42m, as the pandemic continues to cause great uncertainty about the future economy.

And McDonald’s Australia has launched an exclusive, limited-time only Tim Tam McFlurry only available through Uber Eats from November 24, bringing together two iconic Aussie treats into one menu item.

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