AU Evening Wrap: Australia Shares Edge to Sixth Straight Gain, Healthcare Sector Tumbles

$S&P/ASX 200 (.XJO.AU)$ edged less than 0.1% higher to 7091.0, stretching its longest winning streak since June to six sessions. The benchmark index gave back most of the 0.3% gain it made in the first hour of the session, but still managed to finish 2.6 points above the gain-line to sit 2.0% higher so far this week.

Health was the main drag, shedding 4.5% on weakness in blood-products giant $CSL Ltd (CSL.AU)$. CSL, the third-largest ASX 200 company by market capitalization, lost 6.3% a day after almost 25% of shareholders voted against its executive pay proposals.

Real estate stocks were among the best performing. $Goodman Group (GMG.AU)$ up 1.5% to $22.46 and Westfield parent $Scentre Group (SCG.AU)$ jumping 1.2% to $2.55.

$Tabcorp Holdings Ltd (TAH.AU)$ shares sank 6.2% to 91.5¢ after revenue dropped 6.1% in the first quarter of financial 2024. Gaming services revenue declined 12.7%, due to the sale of eBet and lower contracted electronic gambling machines.

Takeover target $Liontown Resources Ltd (LTR.AU)$ shed 1.7% to $2.87. It has given a seven-day extension to US company Albemarle for its due diligence period. Albemarle's $3-a-share cash offer won over the Liontown board led by Tim Goyder on September 4.

$Redbubble Ltd (RBL.AU)$ soared 30.4% to 60¢ after it returned to positive underlying cash flow, according to the company's latest quarterly trading update. It booked an underlying cash flow of $700,000, up $16.9 million on the prior corresponding period.

$Air New Zealand Ltd (AIZ.AU)$ dropped 3% to 65.5¢. The airline cautioned the market against using its first half earnings guidance to the full-year given the "ongoing uncertainties" in the trading environment.