The Australian share market closed higher, partly boosted by an investor frenzy over software company Wisetech's earnings results.

The benchmark ASX 200 gained 0.3 per cent to 7,531, while the broader All Ordinaries climbed half a per cent to 7,809.

It was a busy profit reporting day, but tech stocks were the biggest story of the trading session.

Software provider Wisetech's stocks soared 59 per cent after it revealed its full-year revenue rose 18 per cent to $507.5 million. Underlying net profit jumped 101.3 per cent to $105.8 million. 

The company, which is run by CEO Richard White (a former AC/DC guitar repairer), was placed in a temporary trading halt after the surge, amid confusion that the company had a further announcement to make.

Wisetech's share price finished the day up 25 per cent to $45.6. 

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Zip Co's share price dropped 2.6 per cent to $7.13 after the buy now, pay later company revealed a huge loss of $625 million, with a net loss of $359.6 million last financial year.

Rival Afterpay's stocks continued to drop, down 1 per cent to $133.5, after the company reported its net loss grew 700 per cent despite revenue growing.

Other top movers on the ASX 200 index were Hub 24 (+8pc), Appen (+8.4pc), Webjet (+6.4pc) and Flight Centre (+7.1pc). 

The utilities, cyclicals and real estate sectors dragged the market down.

Bottom movers were Reece (-10.3pc), Nine Entertainment (-9pc) and Seven Group (-7.3pc) and Adbri (-4.3pc).

Nine's stocks fell after the media company reported its full-year profit grew 16.6 per cent to $184 million. Nine's revenue rose 8 per cent to $2.23 billion. Shareholders will get a dividend of 5.5 cents a share. 

The Australian dollar had slipped again by the close of markets, down 0.2 per cent to 72.41 US cents.

Medibank customers rise 

Medibank's share price closed half a per cent higher at $3.55, after the former government-owned business released its full year financial results.

The company's policyholders have increased 3.5 per cent to 1.89 million, and its full year profits surged by 40 per cent to $441 million. 

Its underlying net profit was $398.7 million, up 8.5 per cent. It will pay shareholders a final dividend of 6.9 cents.

Kerry Stokes retires from Seven Group

Seven Group's drop in share price followed the company's announcement that Kerry Stokes is stepping down as chairman and board member.

Existing Seven Group board member Terry Davis will takeover as the new chairman and Mr Stokes' son Ryan Stokes is the chief executive. 

Mr Stokes will remain chairman of Seven West Media and Australian Capital Equity Group. 

The company's share price dropped 7.3 per cent on the news to $21.20.

Building work done 

Construction work done rose by 0.8 per cent in the June quarter, according to the Australian Bureau of Statistics. 

Building work increased across the country with the biggest growth in the Northern Territory (+36.6 per cent) and Tasmania (+1-.6 per cent).

Private sector building was flat and down 0.2 per cent on a year ago, while public sector construction lifted 3.2 per cent, up 2.1 per cent from a year ago.

Renovations fell by 0.5 per cent but is still up 24.5 per cent on a year, which is the strongest annual growth in 21 years, according to the CBA's Ryan Felsman. 

The cost of getting the job done also increased.

Construction costs rose by 0.9 per cent, building costs climbed 0.5 per cent and engineering work lifted 1.5 per cent.

Travel stocks enjoy vaccine good news

In New York, the Nasdaq gained half a per cent at 15,019, the benchmark S&P 500 added 0.1 per cent to 4,486.23 (both record closing highs), while the Dow Jones Industrial Average closed relatively flat at 35,366. 

Travel and leisure sectors outperformed the broader market as investors were buoyed by Pfizer's full approval in the US on Monday.

American Airlines rose 3.7 per cent, United Airlines gained 3.4 per cent, and Delta Lines added 3.6 per cent. Airbnb stocks climbed 9.6 per cent and Booking.com rose 4.4 per cent.

"We have energy, retail, travel, leisure, financials, and small caps all doing well today. And that's a sign that the reopening is alive and well," said Ryan Detrick, senior market strategist at LPL Financial.

Recent economic indicators suggest the recovery from the most abrupt recession in US history is headed in the right direction, but not to the extent that it would prompt the US Federal Reserve to tighten its monetary policy at a meeting this week.i 

In signs investors were getting more clarity on China's regulatory environment for companies, Chinese companies boosted the Nasdaq, as investors piled back into Pinuoduo (+22pc), JD.com (+14pc), Tencent Music Entertainment (+12.7pc) and Baidu (+8.5pc).

Iron ore up

Iron ore reversed some of its recent losses gaining 9 per cent to $148.60 a tonne, according to CommSec.

Oil markets were also up, with West Texas crude oil gaining 3 per cent $US67.68, and Brent crude up 3.5 per cent to $US71.21 a barrel. 

Gold had dropped back a little, and was worth $US1,796 an ounce. 

On European markets, the STOXX 600 index finished flat, while Germany's DAX gained 0.3 per cent and Britain's FTSE was up a quarter of a per cent.

ABC/Reuters