Aussie shares open lower
January 15, 2010
The local share market drifted 0.7% lower on Friday morning despite a positive lead from Wall Street and a strong profit result from US giant Intel shortly after the US market closed. The major players in most of the sectors drifted lower, while only healthcare showed resilience.
At midday, the All Ords was down 25.0 to 4,904.4, while the ASX/200 retreated 28.1 to 4,869.9. About 1.3 billion shares worth around $1.9 billion had changed hands.
The Banks and Financials sector was down 0.5% on a slow news day for the sector. ANZ and CBA were both 0.5% lower to $$22.28 and $56.51 respectively.
Westpac lost 19c to $25.19, while NAB retreated 21c, or 0.8% to $26.84.
Insurers were mixed though losses outweighed gains. QBE, the largest insurer with a market cap of around $25 billion, retreated 1.4% to $24.23 per share.
Westfield lost 2c to $12.54. The broader Property Trusts sector shed 0.1%.
Goodman Group, Mirvac and Stockland lost 0.8%, 0.9% and 0.5% respectively.
Santos shed 18c, or 1.3% to $13.77 in the Energy sector after Merrill Lynch downgraded the stock.
Meanwhile ML's preferred stock in the sector, Oil Search, retreated 4c, or 0.7% to $6.04. The broader sector was down 1%.
Woodside lost 61c, or 1.3% to $47.81.
Origin Energy, which this morning announced the first shipment of oil from its Kupe field in New Zealand, weakened 13c, or 0.7% to $17.21.
Otto Energy soared 27% after it announced BHP Billiton would farm-in a Filipino exploration license.
Meanwhile Karoon Gas recovered from heavy early selling to be flat at lunch, though still has a long way to go recoup yesterday’s 25% drop in its stock price.
The Materials and Resources sector was weighed 0.8% lower by declines from Rio Tinto and BHP Billiton. Rio, which late yesterday announced record iron ore sales for the December quarter, lost 56c, or 0.7% to $78.59.
BHP Billiton slid 0.8% to be trading at $43.43.
Among the mid-cap stocks, Fortescue was the stand out, rallying 7c, or 1.3% to $5.35.
Macarthur lost 24c, or 2.1% to $11.33 despite the company upgrading its profit guidance for the year. The miner flagged continuing delays in the development of its Middlemount mine.
The Industrials sector was 0.5% lower, with Brambles down 11c, or 1.6% to $6.85.
Of the gainers, Leighton added 0.6% to $40.10, while Qantas put on 2c to $2.95.
Asciano retreated 3c, or 1.6% to $1.875.
The Consumer Staples was quiet with a 0.1% loss from Woolworths helping to drag the sector down 0.3%.
Coca-Cola edged 10c higher, or 0.9% to $11.26, despite Credit Suisse downgrading the stock to “underperform”.
Wesfarmers eased 6c lower to $30.96.
Despite Billabong losing 2.1% other retailers helped the Consumer Discretionary to remain flat at lunch.
Wotif.com continued its recent rally, up 14c or 2% to $.723.
The gamers were flat, while among the media stocks Newscorp returned to the winners circle, rising 16c, or 0.9% to $17.28.
Among Healthcare stocks, vaccine producer CSL lost 0.4%, while Sonic Healthcare climbed 22c, to $14.93. The sector dipped 0.2%.
Telstra was 3c, or 0.9% below the gain line at $3.32. The broader Telecommunications lost 0.8%.
Around the region, the Nikkei 225 gained 48.3 to 10,955.9, while the Straits Times Index advanced 6.2 to 2,915.8. Meanwhile, the NZSE50 edged 9.0 lower to 3,269.4.
Spot gold was trading at US$1,143.00 per ounce, and the Aussie was buying US$0.9294.
Macarthur Coal upgrades profit guidance
Macarthur Coal said that coal sales in the six months to 31 December 2009 had outstripped guidance the miner had offered as recently as 18 November. As a result, the company said it had revised its profit guidance for the six months to December 2009 to be in the range of $37 million to $42 million, ahead of the $30 million to $38 million previously flagged.
At lunch, Macarthur shares were down 25c to $11.29 each.
CSR prefers demerger to Bright Food offer
CSR said, last night, its preferred option continues to be to progress the demerger proposal of its Sugar and Renewable business. The conglomerate said it has considered the expression of interest from Bright Food Group including its offer to hold discussions to develop a proposal to acquire CSR’s Sugar and Renewable Energy business.
At midday, CSR shares were down 2.5c to $1.955.
Origin to make first shipment from Kupe
Origin Energy said that it is shipping its first oil from New Zealand’s Kupe field next week. Origin said the shipment is expected to be the first of 254 Petajoules of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light crude produced over the next 15 to 20 years.
At noon, Origin shares were trading down 13c to $17.21.
Bow, Eastern Star face wet weather delays
Recent rainfall has affected the operations of two gas explorers in Queensland and Northern New South Wales. Bow Energy and Eastern Star Gas have both been faced with delays to their operations as they wait for floodwaters to recede.
At lunchtime, Bow Energy shares were down 1.5c to $1.40, while Eastern Star Gas shares were down 3.5c to 88c.
ThinkSmart signs UK funding agreement
ThinkSmart has signed a wholesale funding agreement with Secure Trust Bank in the UK. The international computer and office equipment financing company said the three-and-a-half year agreement positioned Secure Smart as ThinkSmart’s primary business-to-business funder to their UK operations.
At midday, ThinkSmart shares were down 1c to 92c.
At midday, the All Ords was down 25.0 to 4,904.4, while the ASX/200 retreated 28.1 to 4,869.9. About 1.3 billion shares worth around $1.9 billion had changed hands.
The Banks and Financials sector was down 0.5% on a slow news day for the sector. ANZ and CBA were both 0.5% lower to $$22.28 and $56.51 respectively.
Westpac lost 19c to $25.19, while NAB retreated 21c, or 0.8% to $26.84.
Insurers were mixed though losses outweighed gains. QBE, the largest insurer with a market cap of around $25 billion, retreated 1.4% to $24.23 per share.
Westfield lost 2c to $12.54. The broader Property Trusts sector shed 0.1%.
Goodman Group, Mirvac and Stockland lost 0.8%, 0.9% and 0.5% respectively.
Santos shed 18c, or 1.3% to $13.77 in the Energy sector after Merrill Lynch downgraded the stock.
Meanwhile ML's preferred stock in the sector, Oil Search, retreated 4c, or 0.7% to $6.04. The broader sector was down 1%.
Woodside lost 61c, or 1.3% to $47.81.
Origin Energy, which this morning announced the first shipment of oil from its Kupe field in New Zealand, weakened 13c, or 0.7% to $17.21.
Otto Energy soared 27% after it announced BHP Billiton would farm-in a Filipino exploration license.
Meanwhile Karoon Gas recovered from heavy early selling to be flat at lunch, though still has a long way to go recoup yesterday’s 25% drop in its stock price.
The Materials and Resources sector was weighed 0.8% lower by declines from Rio Tinto and BHP Billiton. Rio, which late yesterday announced record iron ore sales for the December quarter, lost 56c, or 0.7% to $78.59.
BHP Billiton slid 0.8% to be trading at $43.43.
Among the mid-cap stocks, Fortescue was the stand out, rallying 7c, or 1.3% to $5.35.
Macarthur lost 24c, or 2.1% to $11.33 despite the company upgrading its profit guidance for the year. The miner flagged continuing delays in the development of its Middlemount mine.
The Industrials sector was 0.5% lower, with Brambles down 11c, or 1.6% to $6.85.
Of the gainers, Leighton added 0.6% to $40.10, while Qantas put on 2c to $2.95.
Asciano retreated 3c, or 1.6% to $1.875.
The Consumer Staples was quiet with a 0.1% loss from Woolworths helping to drag the sector down 0.3%.
Coca-Cola edged 10c higher, or 0.9% to $11.26, despite Credit Suisse downgrading the stock to “underperform”.
Wesfarmers eased 6c lower to $30.96.
Despite Billabong losing 2.1% other retailers helped the Consumer Discretionary to remain flat at lunch.
Wotif.com continued its recent rally, up 14c or 2% to $.723.
The gamers were flat, while among the media stocks Newscorp returned to the winners circle, rising 16c, or 0.9% to $17.28.
Among Healthcare stocks, vaccine producer CSL lost 0.4%, while Sonic Healthcare climbed 22c, to $14.93. The sector dipped 0.2%.
Telstra was 3c, or 0.9% below the gain line at $3.32. The broader Telecommunications lost 0.8%.
Around the region, the Nikkei 225 gained 48.3 to 10,955.9, while the Straits Times Index advanced 6.2 to 2,915.8. Meanwhile, the NZSE50 edged 9.0 lower to 3,269.4.
Spot gold was trading at US$1,143.00 per ounce, and the Aussie was buying US$0.9294.
Macarthur Coal upgrades profit guidance
Macarthur Coal said that coal sales in the six months to 31 December 2009 had outstripped guidance the miner had offered as recently as 18 November. As a result, the company said it had revised its profit guidance for the six months to December 2009 to be in the range of $37 million to $42 million, ahead of the $30 million to $38 million previously flagged.
At lunch, Macarthur shares were down 25c to $11.29 each.
CSR prefers demerger to Bright Food offer
CSR said, last night, its preferred option continues to be to progress the demerger proposal of its Sugar and Renewable business. The conglomerate said it has considered the expression of interest from Bright Food Group including its offer to hold discussions to develop a proposal to acquire CSR’s Sugar and Renewable Energy business.
At midday, CSR shares were down 2.5c to $1.955.
Origin to make first shipment from Kupe
Origin Energy said that it is shipping its first oil from New Zealand’s Kupe field next week. Origin said the shipment is expected to be the first of 254 Petajoules of natural gas, 1.1 million tonnes of LPG and 14.7 million barrels of light crude produced over the next 15 to 20 years.
At noon, Origin shares were trading down 13c to $17.21.
Bow, Eastern Star face wet weather delays
Recent rainfall has affected the operations of two gas explorers in Queensland and Northern New South Wales. Bow Energy and Eastern Star Gas have both been faced with delays to their operations as they wait for floodwaters to recede.
At lunchtime, Bow Energy shares were down 1.5c to $1.40, while Eastern Star Gas shares were down 3.5c to 88c.
ThinkSmart signs UK funding agreement
ThinkSmart has signed a wholesale funding agreement with Secure Trust Bank in the UK. The international computer and office equipment financing company said the three-and-a-half year agreement positioned Secure Smart as ThinkSmart’s primary business-to-business funder to their UK operations.
At midday, ThinkSmart shares were down 1c to 92c.
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