Aussie market closes at 2010 lows
January 22, 2010
Aussie shares were at one-month lows after a slump on global equity markets following the Obama administration’s proposal to limit the size and type of risks banks can take. Losses were heavy and widespread with the miners and energy stocks being the most heavily sold.
At the end of the day, the All Ords was down 77.7 to 4,771.9, while the ASX/200 lost 76.6 to 4,750.6. About 2.7 billion shares worth around $5.6 billion had changed hands.
The Materials and Resources sector slid 2.2% after metals prices weakened due to concerns surrounding China's tighter monetary policy.
Rivals BHP Billiton and Rio Tinto fell 97c, or 2.3% to $41.70 and $2.61, or 3.5% to $72.94 respectively. In the UK their stocks were down 3.1% and 5% overnight.
Meanwhile, the Federal Government's review of taxation recommended that a new national resource rent tax replace the current system.
Fortescue dropped 18c, or 3.6% to $4.81. Yesterday, the iron ore producer reported a 44% rise in iron ore shipments during the December quarter.
Gold miners Newcrest and Lihir lost 2.3% and 2.2% to $33.31 and $3.06 as the price of the precious metal fell 0.9% overnight. This morning, Lihir reported a 27% jump in gold production in 2009 to 1.12 million ounces.
Building materials company James Hardie bucked the trend, adding 13c to $7.97. OZ Minerals was the only miner of note to make gains, climbing 4c, or 3.5% to $1.195.
Energy stocks were also consistently lower, resulting in the sector being down 1.5%.
Sector heavyweight Woodside shed $1.53c, or 3.3% to $44.37. The oil producer reported an 18% quarter-on-quarter jump in revenue to $1.26 billion in the fourth quarter on the back of higher prices for crude oil.
Santos rose 7c to $13.55 after UBS upgraded its rating on the stock to “buy”.
The price of crude weakened 2.2% to close at just above $76 a barrel and near one-month lows.
Banks and Financials dipped 1.6%, however losses were not nearly as bad as those seen in the US and Europe.
ANZ was the worst of the big four banks, down 61c, or 2.6% to $22.65. Westpac and CBA retreated 0.9% and 1.4% respectively, while NAB shed 47c, or 1.7% to $26.72. This afternoon NAB said it had concluded its due diligence on the proposed purchase of AXA Asia Pacific.
Investment bank Macquarie shed 3.2% to $51.60.
Suncorp-Metway and QBE retreated 17c and 42c to $9.05 to $23.08 respectively.
Property Trusts shed 1.1% due mainly to losses among the mid-caps.
Westfield was flat, while GPT lost 1.5c, or 2.6% to 55.5c.
The majors led a 1.8% slide in the Industrials sector. Brambles and Toll fell 2.9% and 2.7% to $6.72 and $8.72, while Leighton lost 95c to $38.28.
Macmahon dipped 1c to 61c as the company announced it had won two overseas contracts valued at $US140 million in total.
Macquarie Infrastructure lost 3c to $1.48 after the shareholders voted to approve the board’s proposal to split into two separate entities and divide the current assets amongst the two new companies.
MAP Group, formerly Macquarie Airports lost 7c, or 2.3% to $2.93. Sydney Airport this reported a 6.1% jump in EBITDA last year.
An 86c, or 2.8% fall to $29.37 from Wesfarmers saw the Consumer Staples sector down 1.3%.
AACo dropped 6.4% to $1.31 after the beef cattle producer predicted a loss of between $53 million and $60 million for the year ended 31 December 2009.
Woolworths was flat at $27.50.
Harvey Norman and Wotif.com lost 3.1% and 2.6% to $3.80 and $6.79 as the Consumer Discretionary sector fell 0.9% into the red.
The media stocks were also lower, with Fairfax down 4c, or 2.2% to $1.79.
The Telecommunications sector was down 0.8%, with Telstra 3c cheaper at $3.37.
Around the region, the Nikkei 225 fell 260.1 to 10,608.4, while the Straits Times Index lost 58.9 to 2,792.1. Meanwhile, the NZSE50 shed 34.9 to 3,190.4. The Hang Seng had slumped 530.2 to 20,332.5.
Spot gold was trading at US$1,092.81 per ounce, and the Aussie was buying US$0.9034.
Woodside revenue up, production down in 09
Woodside Petroleum reported an 18% quarter-on-quarter jump in revenue to $1.26 billion in the fourth quarter on the back of higher prices for crude oil, despite sales volumes only increasing 1% and the company reporting a 2% decline in production over the three months. Overall, despite record production of LNG off the North West Shelf, the company’s 80.9 million barrels of oil equivalent (Mmboe) annualised production was shy of the record 81.3 Mmboe in 2008.
At the bell, Woodside shares were down $1.53 to $44.37.
AACo predicts heavy losses for 2009
Australian Agricultural Company expects to post a loss in the range of $53 million to $60 million for the year ended 31 December 2009. The beef cattle producer said the financial results have been negatively affected by extreme climatic factors combined with a range of external market factors.
At the end of the day, AACo shares were down 9c to $1.31.
Sydney Airport EBITDA climbs 6.1%
Sydney Airport reported a 6.1% jump in EBITDA to $689.3 million for the year ended 31 December 2009, a result welcomed by the airport’s 49% stakeholder MAp Group (MAP). The airport also said the last quarter 11.8% jump in EBITDA to nearly $200 million pointed to a strong 2010.
At the close, MAP shares were down 7c to $2.93.
Macmahon awarded two overseas contracts
Macmahon Holdings announced it has been awarded two overseas quarrying contracts for the French cement producer, Lafarge, with a combined value of US$140 million. The company said they include a six and a half year contract in Nigeria and a five-year contract extension at the Kanthan limestone quarry in Malaysia.
At the finish, Macmahon shares were trading down 1c to 61c.
Lihir Gold production jumps 27%
Lihir Gold reported a 27% jump in gold production in 2009 to 1.12 million ounces. Despite the increase - the company produced more than a million ounces for the first time -production still came within the previous guidance offered by Lihir.
At the bell, Lihir Gold shares were trading down 7c to $3.06 each.
At the end of the day, the All Ords was down 77.7 to 4,771.9, while the ASX/200 lost 76.6 to 4,750.6. About 2.7 billion shares worth around $5.6 billion had changed hands.
The Materials and Resources sector slid 2.2% after metals prices weakened due to concerns surrounding China's tighter monetary policy.
Rivals BHP Billiton and Rio Tinto fell 97c, or 2.3% to $41.70 and $2.61, or 3.5% to $72.94 respectively. In the UK their stocks were down 3.1% and 5% overnight.
Meanwhile, the Federal Government's review of taxation recommended that a new national resource rent tax replace the current system.
Fortescue dropped 18c, or 3.6% to $4.81. Yesterday, the iron ore producer reported a 44% rise in iron ore shipments during the December quarter.
Gold miners Newcrest and Lihir lost 2.3% and 2.2% to $33.31 and $3.06 as the price of the precious metal fell 0.9% overnight. This morning, Lihir reported a 27% jump in gold production in 2009 to 1.12 million ounces.
Building materials company James Hardie bucked the trend, adding 13c to $7.97. OZ Minerals was the only miner of note to make gains, climbing 4c, or 3.5% to $1.195.
Energy stocks were also consistently lower, resulting in the sector being down 1.5%.
Sector heavyweight Woodside shed $1.53c, or 3.3% to $44.37. The oil producer reported an 18% quarter-on-quarter jump in revenue to $1.26 billion in the fourth quarter on the back of higher prices for crude oil.
Santos rose 7c to $13.55 after UBS upgraded its rating on the stock to “buy”.
The price of crude weakened 2.2% to close at just above $76 a barrel and near one-month lows.
Banks and Financials dipped 1.6%, however losses were not nearly as bad as those seen in the US and Europe.
ANZ was the worst of the big four banks, down 61c, or 2.6% to $22.65. Westpac and CBA retreated 0.9% and 1.4% respectively, while NAB shed 47c, or 1.7% to $26.72. This afternoon NAB said it had concluded its due diligence on the proposed purchase of AXA Asia Pacific.
Investment bank Macquarie shed 3.2% to $51.60.
Suncorp-Metway and QBE retreated 17c and 42c to $9.05 to $23.08 respectively.
Property Trusts shed 1.1% due mainly to losses among the mid-caps.
Westfield was flat, while GPT lost 1.5c, or 2.6% to 55.5c.
The majors led a 1.8% slide in the Industrials sector. Brambles and Toll fell 2.9% and 2.7% to $6.72 and $8.72, while Leighton lost 95c to $38.28.
Macmahon dipped 1c to 61c as the company announced it had won two overseas contracts valued at $US140 million in total.
Macquarie Infrastructure lost 3c to $1.48 after the shareholders voted to approve the board’s proposal to split into two separate entities and divide the current assets amongst the two new companies.
MAP Group, formerly Macquarie Airports lost 7c, or 2.3% to $2.93. Sydney Airport this reported a 6.1% jump in EBITDA last year.
An 86c, or 2.8% fall to $29.37 from Wesfarmers saw the Consumer Staples sector down 1.3%.
AACo dropped 6.4% to $1.31 after the beef cattle producer predicted a loss of between $53 million and $60 million for the year ended 31 December 2009.
Woolworths was flat at $27.50.
Harvey Norman and Wotif.com lost 3.1% and 2.6% to $3.80 and $6.79 as the Consumer Discretionary sector fell 0.9% into the red.
The media stocks were also lower, with Fairfax down 4c, or 2.2% to $1.79.
The Telecommunications sector was down 0.8%, with Telstra 3c cheaper at $3.37.
Around the region, the Nikkei 225 fell 260.1 to 10,608.4, while the Straits Times Index lost 58.9 to 2,792.1. Meanwhile, the NZSE50 shed 34.9 to 3,190.4. The Hang Seng had slumped 530.2 to 20,332.5.
Spot gold was trading at US$1,092.81 per ounce, and the Aussie was buying US$0.9034.
Woodside revenue up, production down in 09
Woodside Petroleum reported an 18% quarter-on-quarter jump in revenue to $1.26 billion in the fourth quarter on the back of higher prices for crude oil, despite sales volumes only increasing 1% and the company reporting a 2% decline in production over the three months. Overall, despite record production of LNG off the North West Shelf, the company’s 80.9 million barrels of oil equivalent (Mmboe) annualised production was shy of the record 81.3 Mmboe in 2008.
At the bell, Woodside shares were down $1.53 to $44.37.
AACo predicts heavy losses for 2009
Australian Agricultural Company expects to post a loss in the range of $53 million to $60 million for the year ended 31 December 2009. The beef cattle producer said the financial results have been negatively affected by extreme climatic factors combined with a range of external market factors.
At the end of the day, AACo shares were down 9c to $1.31.
Sydney Airport EBITDA climbs 6.1%
Sydney Airport reported a 6.1% jump in EBITDA to $689.3 million for the year ended 31 December 2009, a result welcomed by the airport’s 49% stakeholder MAp Group (MAP). The airport also said the last quarter 11.8% jump in EBITDA to nearly $200 million pointed to a strong 2010.
At the close, MAP shares were down 7c to $2.93.
Macmahon awarded two overseas contracts
Macmahon Holdings announced it has been awarded two overseas quarrying contracts for the French cement producer, Lafarge, with a combined value of US$140 million. The company said they include a six and a half year contract in Nigeria and a five-year contract extension at the Kanthan limestone quarry in Malaysia.
At the finish, Macmahon shares were trading down 1c to 61c.
Lihir Gold production jumps 27%
Lihir Gold reported a 27% jump in gold production in 2009 to 1.12 million ounces. Despite the increase - the company produced more than a million ounces for the first time -production still came within the previous guidance offered by Lihir.
At the bell, Lihir Gold shares were trading down 7c to $3.06 each.
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