Australian equities closed lower on Friday, with the S&P/ASX 200 index falling 0.50% as a sell-off in gold, mining, and materials stocks weighed on the market. The decline came despite gains in some energy and financial companies.
Tomra Systems reported a 25% year-on-year increase in second-quarter revenue, driven by a surge in its Collection division as new deposit return systems were implemented in several key markets.
The Chinese memory chip interface maker disclosed that its South Korean unit is being investigated for a potential competition law violation, causing its Shanghai-listed shares to fall over 9%. South Korea is a key market, accounting for more than half of the company's 2025 revenue.
The Swedish technology company reported a significant drop in second-quarter revenue to SEK 30 million, resulting in an operating loss, as its sawmill optimization unit faced weak demand and longer sales cycles.
Sweden-based care provider Humana announced second-quarter revenue that surpassed analyst expectations but recorded a net loss for the period, attributed to a capital loss from an asset sale.
The Swedish automaker reported a Q2 operating profit of 826 million SEK, reversing a year-ago loss, but faced a 17% decline in revenue and a 35% sales slump in China. Volvo Cars anticipates a stronger second half.
Wolfe Research has identified S&P Global, MSCI Inc., and Moody's Corporation as its top selections in the Business and Information Services sector, citing expectations for strong second-quarter results and assigning 'Outperform' ratings to all three.
This year's Farnborough Airshow is dominated by defense spending driven by global conflicts, overshadowing the traditional commercial jet order race as manufacturers like Airbus and Boeing grapple with persistent supply chain constraints.
Burberry reported a 5% increase in first-quarter comparable store sales, meeting analyst expectations, as strong performance in the Americas and China compensated for a decline in European tourist spending linked to Middle East conflict.
