The local share market has closed higher as investors digested a spate of earnings reports and a $1 billion takeover offer.
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The benchmark S&P/ASX200 index on Monday finished 31.8 points higher at 7064.3, a 0.45 per cent rise, while the broader All Ordinaries was up 36.1 points, or 0.5 per cent, to 7324.9.
"So far, so good for reporting season," said Lucina Chan, division director at Macquarie Private Wealth. "It's been very positive for the market so far - as we continue along the footpath, we'll have to see."
It's also a busy week for data releases including the Reserve Bank minutes on Tuesday and the Australian unemployment figures on Thursday.
Among large companies Nearmap was the biggest gainer on Monday, soaring 24.8 per cent to $1.885 after the Sydney-based aerial mapping company announced it was in exclusive, advanced takeover talks with a US private equity firm.
Thoma Bravo has made an indicative offer of $2.10 per share, or $1 billion.
With eight major companies reporting earnings on Monday, Ms Chan told AAP the one that really stood out to her was JB Hi-Fi, which reported total sales up 3.5 per cent to $9.2 billion in the 12 months to June 30, and had risen further last month.
"Its numbers were better than expected, and really good in July," she said. "That was a little bit of a surprise, considering everyone's a little upset with how mortgage rates are going up."
Shares in the electronics retailer finished down 1.0 per cent to $45.10.
Every sector except energy and financials finished higher with property the biggest gainer, climbing 2.0 per cent on strong results from GPT Group.
The diversified property giant climbed 5.4 per cent to a two-week high of $4.53 after announcing its funds from operation had increased eight per cent to $326.5 million in the six months to June 30, compared to the same period in 2021.
Chief executive officer Bob Johnston said retail sales had recovered to above 2019 pre-pandemic levels, tenant demand was strong for logistics centres, and leasing demand for office space had picked up in the June quarter.
Oil and gas producer Beach Energy fell 11.1 per cent to $1.645 after missing full-year profit estimates with expenses coming in above expectations.
"We did not forecast restoration expenditure of $29.5m, class action legal costs of $5m, and contract unwind of $4.5m," RBC Capital Markets analyst Gordon Ramsay wrote in a note.
Carsales.com.au rose 5.8 per cent to $22.90 after reporting full-year net profit after tax had risen 23 per cent to $161 million, and predicting "very strong" revenue and profit growth and margin expansion in 2022/23.
"We continue to see robust levels of demand in all our key markets," said managing director and chief executive Cameron McIntyre.
BlueScope Steel gained 3.9 per cent to $17.55 after reporting net profit after tax had risen 135 per cent to $2.81 billion in the year to June.
"We saw continued strong demand for our steel products and solutions despite recent macroeconomic and geopolitical volatility," said managing director and chief executive Mark Vassella.
Bendigo and Adelaide Bank fell 9.1 per cent to a one-month low of $9.80 after the regional lender's net profit after tax fell 6.9 per cent to $488.1 million in the 12 months to June.
Chief executive Marnie Baker said the ASX100 component had "delivered what we promised in a challenging and competitive environment".
Elsewhere in the financial sector, ANZ was basically flat at $24.03 while CBA and NAB both edged 0.1 per cent higher, to $100.46 and $30.81 respectively.
But Westpac dropped 1.0 per cent to $22.43 after announcing its capital levels fell slightly in the June quarter.
The heavyweight mining sector was up 0.8 per cent, with BHP gaining 0.2 per cent to $38.92, Fortescue Metals climbing 1.0 per cent to $19.13 and Rio Tinto down 0.2 per cent to $95.27.
It was a good day for lithium companies with Pilbara up 3.5 per cent, Allkem up 3.4 per cent and Core Lithium rising 9.9 per cent to $1.615 on an exploration update.
Paradigm Biopharmaceuticals plunged 28 per cent to $1.43 after the drug repurposing company launched a $66 million capital raising at a 34.5 per cent discount to Friday's closing price.
Meanwhile, the Australian dollar was buying 70.73 US cents, from 71.23 US cents at Friday's close.
ON THE ASX:
* The benchmark S&P/ASX200 index on Monday finished up 31.8 points, or 0.45 per cent, at 7064.3
* The broader All Ordinaries gained 36.1 points, or 0.5 per cent, to 7324.9
CURRENCY SNAPSHOT:
One Australian dollar buys:
* 70.73 US cents, from 71.23 US cents at Friday's close
* 94.33 Japanese yen, from 94.97 yen
* 69.09 Euro cents, from 69.12 cents
* 58.48 British pence, from 58.42 pence
* 110.58 NZ cents, from 110.30 cents.
Australian Associated Press