[Morningstar with AAP]: The Australian share market has closed modestly up as investors digested a flurry of company results.

The benchmark S&P/ASX200 index closed Thursday up 18.5 points, or 0.29 per cent, to 6,501.8 points, while the broader All Ordinaries was up 20.4 points, or 0.31 per cent, to 6,593 points.

"Not an exciting day for our markets, there's not really a move one way or the other, it's basically choppy," said CommSec market analyst James Tao.

"We're taking a breather after the crazy volatility we saw the last few weeks."

On a macroeconomic front markets were cautious ahead of US Fed chairman Jerome Powell's speech at a meeting of global central bankers in Jackson Hole, Wyoming on Friday, Mr Tao said.

CSL accounted for more than a quarter of the ASX200's gains, as it rose 1.5 per cent to hit an all-time high of $238.86, having gained 29 per cent this year.

The energy, tech, telecom and health care sectors were the biggest gainers, while industrial, mining and utilities stocks were all down.

Local investors were also digesting a flurry of earnings reports as confession season neared a close.

Qantas rose 1.4 per cent to $5.86 despite a 17 per cent fall in profit after the airline raised its dividend and announced it would conduct an off-market share buy back.

ERM Power shot up 42.4 per cent to $2.45 after Royal Dutch Shell made a $617 million takeover offer for the business-only energy retailer and ASX300 component.

Santos gained 3.5 per cent to $7.10 after it posted an 89 per cent jump in half-year profit, boosted by its acquisition of Quadrant Energy and strong output from its oil fields in South Australia.

Santos' results helped fuel the energy sector, which was the biggest gainer of the day as the price of Brent crude climbed back above $US60, with Beach Energy gaining 4.7 per cent to hit an all-time high of $2.25.

The big banks were all higher, with ANZ rising 0.8 per cent to $26.58, NAB up 0.9 per cent to $27.39, Westpac up 0.8 per cent to $27.75 and Commonwealth up 0.1 per cent to $77.10.

Vocus Group was up 9.6 per cent to $3.20 after the Dodo and iPrimus brand owner met its guidance, which chief executive Kevin Russell said was a key first step in its turnaround plan.

Webjet and Flight Centre moved in opposite directions after both online travel agencies reported full-year earnings.

Webjet fell 8.3 per cent to $12.70 despite boosting profit 45 per cent to $60.3 million, while Flight Centre rose 7.5 per cent to hit an nine-month high of $47.14 despite profit staying flat at $263 million.

South32 fell 4.4 per cent to two-year low of $2.63 after announcing earnings were down 25 per cent and that it would sell its South African energy coal business.

Elsewhere in the mining sector, BHP was down 0.1 per cent to $35.20 while Rio Tinto rose 0.6 per cent to $84.21.

Pro Medicus was the biggest gainer among ASX200 components, up 16.1 per cent to a two-week high of $30.58 after the radiology software company reported that full-year profit after tax had risen 92 per cent.

The Aussie dollar is buying 67.68 US cents, up slightly from 67.67 cents on Wednesday.

ON THE ASX

The benchmark S&P/ASX200 index closed up 18.5 points, or 0.29 per cent, to 6,501.8

The All Ordinaries closed up 20.4 points, or 0.31 per cent, to 6,593.

The SPI200 futures index closed up 23 points, or 0.36 per cent, to 6,462.

The NZX 50 added 15.90 points (0.15%) to 10,725.22 while the Nikkei gained 9.44 points (0.05%) at the time of writing, to be closed at 20,628.01

Companies commencing Ex-Dividend Trading Today (ASX 300):

Domain Holdings Australia Limited

JB Hi-Fi Limited

Newcrest Mining Limited

QBE Insurance Group Limited