AU Evening Wrap: Energy Stocks Win Out to Push ASX 0.3% Higher

The $S&P/ASX 200(.XJO.AU)$ closed 0.3 per cent, or 19.4 points, up to 7357.4. The All Ords posted similar gains, up 0.3 per cent to 7568.5.

$Woodside Energy Group Ltd(WDS.AU)$ gained 1.9 per cent, $Santos Ltd(STO.AU)$ was up 2.6 per cent and $Ampol Ltd(ALD.AU)$ added 1.2 per cent. Coal producers also rallied. $Yancoal Australia Ltd(YAL.AU)$ and $Whitehaven Coal Ltd(WHC.AU)$ both jumped more than 4 pc.

$Xero Ltd(XRO.AU)$ fell 3.9 per cent as $WiseTech Global Ltd(WTC.AU)$ fell 0.9 per cent.

In company news, luxury online fashion retailer $Cettire Ltd(CTT.AU)$ soared as much as 24 per cent after full year sales revenue almost doubled. The online fashion retailer pared back gains late in the session to end 12 per cent up.

$Lake Resources NL(LKE.AU)$ was the best performing on the benchmark, surging 27.2 per cent ahead of an update on its flagship Kachi Project that the company is due to give at a lithium seminar in Argentina.

$Boral Ltd(BLD.AU)$ jumped 8.5 per cent after reporting a 17.1 per cent rise in full-year revenue to $3.46 billion.

$Downer EDI Ltd(DOW.AU)$ was the worst performer on the ASX, falling 6.4 per cent after the construction engineering company posted an annual net loss of $386 million and warned of “challenging” market conditions over the next six months.

$AGL Energy Ltd(AGL.AU)$ dropped 3.4 per cent, after reporting a bottom-line loss of $1.3 billion for the full year due to previously flagged write-downs.

And $QBE Insurance Group Ltd(QBE.AU)$ lost 1.5 per cent as the insurer reported a 10.2 per cent rise in premiums, the latest example of price pressures on insurance customers.