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Bloomberg
A milestone for Australian stocks hangs in the balance as investors weigh better-than-expected corporate earnings
results against a resurgence in Covid-19 concerns.
Of the 78 companies that have reported full-year results this month, 65% have met or exceeded earnings estimates, according to data compiled by Bloomberg. That’s three percentage points higher than for the same period last year.
The results have helped the S&P/ASX 200 Index cling to its 1.2% advance for August, even as Sydney’s delta-variant outbreak worsens. That leaves it with a shot of posting an eleventh straight monthly gain, which would be the longest winning streak on record.