Australian Shares Inch Up; Bendigo and Adelaide Bank H2 Statutory Profit to Reflect Goodwill Impairment Charge, Restructuring Costs

Published on 08/20/2025 at 02:42 am EDT
(MT Newswires) -- Australian shares inched up on Wednesday's close, even as Wall Street markets fell, amid growing bets on US interest rate cuts next month.
The S&P/ASX 200 Index rose 0.25% or 21.8 points to close at 8,918.
Investors bet on an 80% chance of a quarter-point rate cut next month, ahead of the Federal Reserve's gathering on Friday, Bloomberg reported.
"Moves in overnight trade were muted as investors await US Fed Chair Powell's address on Friday and assess the impacts of a possible ceasefire in the Ukraine," Pat Bustamante, Senior Economist, Westpac Group, said.
In company news, Bendigo and Adelaide Bank'sfiscal second-half statutory profit is expected to be impacted by a goodwill impairment charge and restructuring costs. Shares of the company rose nearly 1% at market close.
Lynch Group Holdings signed a scheme implementation agreement with Hasfarm and Darwin Aus Bidco under which Hasfarm Bidco agreed to acquire 100% of the company shares through a scheme of arrangement. Shares of the company rose 24% at market close and earlier hit a 52-week high.
Lastly, James Hardie Industries reported Wednesday fiscal Q1 adjusted earnings of $0.29 per share, down from $0.41 a year earlier. Shares of the company fell 28% at market close and earlier hit a 52-week low.

Sumber : MT Newswires