AU Morning Wrap: BHP Drops on Profit Slump; Johns Lyng, Hub24 Rally

US equity futures retreated as a long weekend failed to suppress the interest rate worries that have enveloped financial markets in the last two weeks. Regular share trade on the Nasdaq and New York Stock Exchange was suspended overnight for Presidents' Day.

S&P 500 futures declined 11.5 points or 0.28 per cent. Dow futures eased 80 points or 0.24 per cent. Nasdaq futures shed 24 points or 0.19 per cent.

BHP tumbled 1.9 per cent to $47.56 after the miner reported a weaker-than-expected $US6.59 billion ($9.53 billion) profit.

Coles edged 0.8 per cent higher to $18.45 after announcing that CEO Steve Cain will retire and Leah Weckert will take the top job on May 1.

Judo climbed 7.6 per cent to $1.55 after saying it is on track to deliver at least $9 billion in new lending by the end of the financial year.

Johns Lyng jumped 10 per cent to $6.16 after upgrading its FY23 revenue and earnings guidance.

Tabcorp has upgraded its opex guidance for fiscal 2023 to 2 per cent - 3 per cent compared to FY 2022 pro forma. It was 3 per cent to 4 per cent growth previously. It plans to cut annual opex to $600 million to $620 million by FY 2025.

Tabcorp declared an interim dividend of 1.3¢ per share fully franked, representing a payout ratio of 61 per cent of NPAT before significant items and equity accounted loss.

Its underlying net interest margin climbed 72 basis points to 3.56 per cent, supported by improved term deposit margins and rates leverage.

Judo reported gross loans and advances of $7.5 billion for the half, up 23 per cent on the prior corresponding period, and net interest income of $163 million, up 69 per cent.

The miner's half-year profit after tax dropped 32 per cent to $US6.4 billion.

Full-year forecast sales revenue has been upgraded to $1.146 billion and forecast EBITDA to $111.1 million.

Ms Weckert has held the positions of chief executive, commercial and express, chief financial officer; people and culture; and, state general manager, Victorian supermarkets.

Dividends paid: None

• Iron ore rose for a fourth session after new house prices in China improved for the first time in a year. Traders were also looking ahead with optimism to the possibility of fresh economic stimulus measures at next month's National People's Congress.

The most-traded May ore on China's Dalian Commodity Exchange traded as high as 898.5 yuan before ending day-time trade 1 per cent ahead at 894 yuan (US$130.35).

• Oil also caught a lift from optimism over improved Chinese demand as the recovery gains traction. Brent crude settled US$1.08 or 1.3 per cent ahead at US$84.08 a barrel.

• Gold was little changed in electronic trade. Gold for April delivery was lately ahead 10 US cents or 0.01 per cent at US$1,850.30 an ounce.