ASX Update: Earnings flow; uranium stocks glow

ASX Update: Earnings flow; uranium stocks glow

Takeover action and a round of positive trading updates helped propel the share market towards a second-straight advance.

The S&P/ASX 200 rallied 53 points or 0.75 per cent to 7051.

Fund manager Perpetual will acquire rival Pendal to create a global investment giant. Uranium miners soared after Japan reversed its resistance to nuclear power since the Fukushima disaster.

Investors waded through a slew of earnings from household names, including Qantas, Woolworths, Nine Entertainment and Flight Centre. What’s driving the market The market has steadied over the last two sessions as the full-year earnings season delivered more positives than negatives. Today’s winners included Qantas, ports operator Qube, student placement service IDP Education and financial services provider Insignia. Misses included Woolworths, Flight Centre and Whitehaven Coal (more below).Also helping sentiment was a pause in selling on Wall Street ahead of an annual gathering of central bankers in the US tonight. The S&P 500 edged […]

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