The local share market is on track for its fourth straight day of losses - and its worst one of the current losing streak, on the biggest day of earnings season.

The benchmark S&P/ASX200 index at lunchtime on Thursday was down 130.3 points, 에그벳사이트 or 1.55 per cent, to a five-week low of 8,288.9 while the broader All Ordinaries had dropped 130.8 points, or 1.5 per cent, to 8,568.

/>More than 40 companies were reporting earnings on Thursday, and a number were suffering heavy losses after their financial statements disappointed the marke

/>The big four banks were all well in the red as well, with Westpac, NAB and ANZ all down by between 3.3 and 3.8 per cent after all three released earnings this wee

/>"This reporting season, which started strongly enough, has imploded in spectacular fashion," said IG market analyst Tony Sycamore, who highlighted the subpar results from Westpac, NAB and Bendigo and Adelaid

/>"When stocks are priced for perfection as the banks have been, even minor misses will be punished," he adde

/>CBA was doing a bit better, down just 1.1 per cent.

/>In the heavyweight mining sector, Rio Tinto had fallen 3.0 per cent after reporting a 27 per cent drop in free cash flow in 2024, to $US5.5 billio

/>"Rio Tinto's recent 7.6 per cent profit drop is a stark reminder of the mining industry's vulnerability to China's economic shifts, a challenge that has also ensnared BHP and Glencore," Saxo Asia Pacific senior sales trader Junvum Kim sai

/>BHP was down 2.3 per cent and Fortescue had dropped 6.9 per cent after posting a $US1.5 billion half-year net profit - down 54 per cent from a year ag

/>Wesfarmers was up 3.0 per cent to $78.91 as the Kmart and Bunnings owner announced its half-year profit was up 2.9 per cent to $1.5 billio

/>"The retail divisions benefited from households prioritising value, and from new and expanded ranges and offerings that helped grow their addressable markets," managing director Rob Scott sai

/>Telstra was up 5.4 per cent to a year-and-a-half high of $4.13 as the mobile operator hiked its dividend and announced a $750 million share buyback after posting $1.1 billion profit in the first half, up 7.1 per cent from a year ag

/>"These are a strong set of results, delivering a fourth consecutive first half of underlying growth," said chief executive Vicki Brad

/>Super Retail Group was down 13.3 per cent to $14.03 after the Rebel and Supercheap Auto owner posted a $130 million first-half profit, down 9.0 per cent from a year ag

/>Other companies losing ground after posting earnings were chemical supplier Redox (down 21 per cent); construction material and equipment provider Maas Group (down 12.3 per cent); building restoration company John Lyng Group (down 6.3 per cent); Auckland Airport (down 3.8 per cent); Magellan Financial Group (down 9.7 per cent); Aristocrat Leisure (down 4.8 per cent); casino operator Skycity Entertainment (down 7.2 per cent); pathology chain Healius (down 6.0 per cent) and animal feed supplier Ridley Corp (down 5.4 per cent

/>Others gaining on the backs of their earnings included networking provider Megaport (up 17.9 per cent); Whitehaven Coal (up 7.4 per cent); infection prevention firm Nanosonics (up 14.5 per cent); non-bank lender MA Financial (up 8.3 per cent); youth casual apparel chain Universal Store (up 10.9 per cent) and medical technology company Cogstate (up 9.3 per cent

/>Goodman Group had also fallen 6.3 per cent to $33.70 after completing a $4 billion capital raising at $33.50 a share, funds that will be used to invest in its data centre offerin

/>The Australian dollar was buying 63.38 US cents, from 63.69 US cents at 5pm AEDT on Wednesday.