ASX Midday Sector Update: Consumer Staples Stocks Climb, Financials Fall

MT Newswires Live

Feb 17

Consumer staples stocks rose almost 1% on midday Monday after a2 Milk Company (ASX:A2M, NZE:ATM) reported strong results.

The dairy firm reported earnings of NZ$0.1261 per diluted share, up from NZ$0.1176 per diluted share a year earlier. It now expects revenue growth for the full fiscal year to reach low to mid-double-digit percent, compared with prior guidance of mid to high single-digit percent.

Its shares rallied 19% in recent trading.

On the flip side, the financial sector fell more than 2%, on the back of disappointing earnings from banks.

Bendigo and Adelaide Bank (ASX:BEN) reported fiscal first half-year cash earnings per share of AU$0.469, down from AU$0.474 per share a year earlier.

Its shares fell 17% in recent trading.

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