The ASX 200 index ended the week on a positive note, breaking the cycle of four consecutive days of losses.
The index was up by 21.6 points and closed at 7,307.0 on Friday, after hitting a one-month low on the previous day.
Among the sectors, the IT sector led the race with a gain of 1.9%, followed by industrials at 1.51%. On the flip side, the material sector was down 1.39%.
Top Gainers and Losers
On the winning side, the equipment company Brambles Limited (AU:BXB) gained 7.5% on Friday after it announced its half-yearly results for the fiscal year 2023. The company upgraded its earnings guidance for the full year, as it offset higher costs with price hikes.
On similar lines, food company Bega Cheese Limited (AU:BGA) was up by 7.53%, as the stock recovered its losses from yesterday. The company posted a 74% decline in its H1 2023 net profits due to higher farmgate milk prices.
Talking about the losing side, Omni Bridgeway Ltd. (AU:OBL) was down by more than 18% today. The company, which provides services like legal recovery, dispute, and litigation finance, etc., posted higher losses in its interim results for 2023.
Financial services group, Perpetual Limited (AU:PPT) fell by 4.24% as it posted lower net profits in its half-year results for the period ended on December 31, 2022.
Upcoming Earnings for Next Week
The TipRanks Earnings Calendar tool for the Australian market provides timely information on all upcoming results in the next week and beyond.
Mining company Base Resources Ltd. (AU:BSE) will report its second-quarter earnings for 2023 on February 27. BSE stock has a Strong Buy rating with an average target price of AU$0.23, suggesting a huge upside of 198%.
Another oil and gas company, Carnarvon Energy Limited (AU:CVN) has a Strong Buy rating ahead of its earnings next week. Carnarvon will announce its Q2 2023 results on March 01.
Technology company Appen Limited (AU:APX) will report full-year results for 2022 on Monday, February 27. Analysts are not upbeat on the stock and have rated it as Moderate Sell, ahead of its earnings.
