Risk off 🚫results on ✔️ - a podcast by ausbiz

Jitters over the escalating Russia-Ukraine conflict saw risk snapped off the table. The broader index opened lower and stayed there until the end with the S&P/ASX slicing off 72 points or -1%, except for the energy sector which closed 1.8% higher. Outstanding company results were still rewarded. The best performers were Cochlear and Costa, closing up 8-9%. Hub24 added over 4% on as it forecast continued improved margins. Infotech was smashed, many companies reaching 52 week lows. Block hit a record how, while WiseTech dropped 4% and Xero shed 3%. Zip closed down 9%. Nanosonics was the worst performer, shares hit their lowest level since March 2019 as profits declined 45%. Uniti doubled revenues but a profit miss saw its shares tumble by over 9%.

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Ukraine puts a sting in the global tightening cycle's tail

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