Australian shares up 1.8%
November 9, 2009
Better than expected results from CBA and Orica saw Aussie stocks start the week strongly with a 1.8% rally Monday. While each sector closed above the gain line it was banks and resource stocks that added the most points to the broader indices.
In economic news, home loan numbers increased 5.1% in September seasonally adjusted after a 4% rise the previous month. The boost was attributed to the end of the Federal Government's First Home Owners Grant.
Meanwhile, according to the ANZ Bank's monthly survey jobs advertised dropped by 1.7% in October after a 4.4% rise in September.
At the end of the day, the All Ords had put on 82.1 to 4,686.5, while the ASX/200 gained 80.9 to 4,674.9. About 2.5 billion shares worth around $5.6 billion had changed hands.
After a relatively slow start to the day the two heavyweight miners, BHP and Rio, made ground to add points to the market.
BHP Billiton advanced 21c to $37.61, while Rio Tinto gained 75c, or 1.2% to $65.75, similar to the gains posted on the FTSE on Friday.
The broader Materials and Resources sector climbed 1.6%.
Orica surged 5.6% to $23.61 after saying its post-tax profit, not including one-off’s, jumped 13% to $646 million. The company said it expected profits to increase again the coming year.
Incitec Pivot rose 7c to $2.69.
Gold miners continued to show strength after the price of the precious metal moved over US$1,100 mark.
Newcrest jumped $1.22 to $35.30 and Lihir Gold put on 10c to $3.41.
Onesteel climbed 15c to $3.11, while larger rival Bluescope added 9c to trade at $3.04.
Among the banks, Westpac was down 27c to $26.28 after going ex-dividend today.
The broader Banks and Financials sector climbed 2.1%.
CBA spiked $2.37 per share to close at $55.08 after booking a quarterly cash profit of $1.4 billion.
NAB jumped 3% to $29.60, while Macquarie also went ex-dividend though managed to advance 24c to $49.84.
Among the insurers, AXA Asia Pacific shares soared 32.6% after rejecting a big from rival AMP, saying it considered the AMP offer to be not fair value.
AXA Asia Pacific contributed over 10 points alone to the stock markets gains for the day.
AMP reversed early falls to be 25c, or 4.3% higher at $6.12.
Among Consumer Staples stocks, Woolworths and Wesfarmers added 1.5% and 1% to $28.40 and $26.69 respectively.
News reports today cited a lack of competition to this supermarket duopoly for the reason Australian grocery prices had risen the fastest in the Western world over the last decade.
The sector added 1.2%, while the Consumer Discretionary sector put on 2.5%, led by gains from the retailers and gamers.
David Jones gained 21c to $5.68, while Harvey Norman climbed 17c to $4.28.
JB Hi-Fi gained 70c to $21.70.
Aristocrat rose 31c to $4.50, while Crown put on 29c, or 3.6% to $8.45.
The Energy sector advanced 1.3%.
Santos and Woodside added 2.4% and 1.3% despite a softening in the price of crude on the back of worse-than-expected unemployment figures out of the US on Friday. They were trading at $15.30 and $48.51 respectively.
Industrials were also broadly higher, led by sector heavyweights Leightons, up 76c to $36.56, and Toll, up 30c to $8.69. The sector rose 2.2%.
Qantas added 8c to $2.72.
Telstra edged 3c higher to $3.23, while the Telecommunications sector was up 0.8%.
Solid gains among Property Trusts saw the sector finish 1% above the line.
Westfield put on 13c to $12.34, while Stockland dipped 1c to $3.68.
Around the region, the Nikkei 225 gained 29.5 to 9,818.8, while the Straits Times Index put on 7.9 to 2,666.1. Across the Tasman, the NZSE50 added 4.9 to 3,165.1. The Hang Seng advanced 233.4 to 22,063.2.
Spot gold was trading at US$1,104.10 per ounce, and the Aussie was buying US$0.926.
CBA posts quarterly cash profit of $1.4bn
Commonwealth Bank of Australia said its unaudited cash earnings for the September quarter was about $1.4bn, with the result supported by good income growth and the group’s approach to cost management. The company said competition remains strong, particularly in deposits where margins are under pressure.
At the end of the day, CBA shares were up $2.37 to $55.08.
Orica posts growth, expects more in 2010
Orica reported a net profit of $542m for the full year to 30 September 2009, despite incurring expenses related to individually material items of $104 million. When not including one-off expenses, the chemical and explosives manufacturer reported a 13% jump in post-tax profit to $646 million.
At the close, Orica shares were up $1.26 to $23.61.
AXA rejects AMP takeover offer
AXA Asia Pacific Holdings advised that it has received and rejected an unsolicited and conditional scheme proposal from AMP and AXA Asia Pacific’s largest shareholder AXA SA. Under the proposal, which was received on Saturday, AMP would acquire all of the shares in AXA Asia Pacific, including those held by AXA SA, and the Asian operations of AXA APH would be sold to AXA SA.
By the finish, AXA Asia pacific shares were up $1.40 to $5.70.
James Hardie committed to asbestos fund
James Hardie reconfirmed its commitment to the Asbestos Injuries Compensation Fund after the Australian Government announced it would provide a loan of up to $160 million to the NSW Government that would go towards a loan facility of up to $320 million to be made available by the NSW Government to meet a short-term funding shortfall. The company said the provision of the loan facility to the AICF does not reduce James Hardie’s obligations under the Amended and Restated Final Funding Agreement.
At the end of the day, James Hardie shares were up 23c to $7.41.
In economic news, home loan numbers increased 5.1% in September seasonally adjusted after a 4% rise the previous month. The boost was attributed to the end of the Federal Government's First Home Owners Grant.
Meanwhile, according to the ANZ Bank's monthly survey jobs advertised dropped by 1.7% in October after a 4.4% rise in September.
At the end of the day, the All Ords had put on 82.1 to 4,686.5, while the ASX/200 gained 80.9 to 4,674.9. About 2.5 billion shares worth around $5.6 billion had changed hands.
After a relatively slow start to the day the two heavyweight miners, BHP and Rio, made ground to add points to the market.
BHP Billiton advanced 21c to $37.61, while Rio Tinto gained 75c, or 1.2% to $65.75, similar to the gains posted on the FTSE on Friday.
The broader Materials and Resources sector climbed 1.6%.
Orica surged 5.6% to $23.61 after saying its post-tax profit, not including one-off’s, jumped 13% to $646 million. The company said it expected profits to increase again the coming year.
Incitec Pivot rose 7c to $2.69.
Gold miners continued to show strength after the price of the precious metal moved over US$1,100 mark.
Newcrest jumped $1.22 to $35.30 and Lihir Gold put on 10c to $3.41.
Onesteel climbed 15c to $3.11, while larger rival Bluescope added 9c to trade at $3.04.
Among the banks, Westpac was down 27c to $26.28 after going ex-dividend today.
The broader Banks and Financials sector climbed 2.1%.
CBA spiked $2.37 per share to close at $55.08 after booking a quarterly cash profit of $1.4 billion.
NAB jumped 3% to $29.60, while Macquarie also went ex-dividend though managed to advance 24c to $49.84.
Among the insurers, AXA Asia Pacific shares soared 32.6% after rejecting a big from rival AMP, saying it considered the AMP offer to be not fair value.
AXA Asia Pacific contributed over 10 points alone to the stock markets gains for the day.
AMP reversed early falls to be 25c, or 4.3% higher at $6.12.
Among Consumer Staples stocks, Woolworths and Wesfarmers added 1.5% and 1% to $28.40 and $26.69 respectively.
News reports today cited a lack of competition to this supermarket duopoly for the reason Australian grocery prices had risen the fastest in the Western world over the last decade.
The sector added 1.2%, while the Consumer Discretionary sector put on 2.5%, led by gains from the retailers and gamers.
David Jones gained 21c to $5.68, while Harvey Norman climbed 17c to $4.28.
JB Hi-Fi gained 70c to $21.70.
Aristocrat rose 31c to $4.50, while Crown put on 29c, or 3.6% to $8.45.
The Energy sector advanced 1.3%.
Santos and Woodside added 2.4% and 1.3% despite a softening in the price of crude on the back of worse-than-expected unemployment figures out of the US on Friday. They were trading at $15.30 and $48.51 respectively.
Industrials were also broadly higher, led by sector heavyweights Leightons, up 76c to $36.56, and Toll, up 30c to $8.69. The sector rose 2.2%.
Qantas added 8c to $2.72.
Telstra edged 3c higher to $3.23, while the Telecommunications sector was up 0.8%.
Solid gains among Property Trusts saw the sector finish 1% above the line.
Westfield put on 13c to $12.34, while Stockland dipped 1c to $3.68.
Around the region, the Nikkei 225 gained 29.5 to 9,818.8, while the Straits Times Index put on 7.9 to 2,666.1. Across the Tasman, the NZSE50 added 4.9 to 3,165.1. The Hang Seng advanced 233.4 to 22,063.2.
Spot gold was trading at US$1,104.10 per ounce, and the Aussie was buying US$0.926.
CBA posts quarterly cash profit of $1.4bn
Commonwealth Bank of Australia said its unaudited cash earnings for the September quarter was about $1.4bn, with the result supported by good income growth and the group’s approach to cost management. The company said competition remains strong, particularly in deposits where margins are under pressure.
At the end of the day, CBA shares were up $2.37 to $55.08.
Orica posts growth, expects more in 2010
Orica reported a net profit of $542m for the full year to 30 September 2009, despite incurring expenses related to individually material items of $104 million. When not including one-off expenses, the chemical and explosives manufacturer reported a 13% jump in post-tax profit to $646 million.
At the close, Orica shares were up $1.26 to $23.61.
AXA rejects AMP takeover offer
AXA Asia Pacific Holdings advised that it has received and rejected an unsolicited and conditional scheme proposal from AMP and AXA Asia Pacific’s largest shareholder AXA SA. Under the proposal, which was received on Saturday, AMP would acquire all of the shares in AXA Asia Pacific, including those held by AXA SA, and the Asian operations of AXA APH would be sold to AXA SA.
By the finish, AXA Asia pacific shares were up $1.40 to $5.70.
James Hardie committed to asbestos fund
James Hardie reconfirmed its commitment to the Asbestos Injuries Compensation Fund after the Australian Government announced it would provide a loan of up to $160 million to the NSW Government that would go towards a loan facility of up to $320 million to be made available by the NSW Government to meet a short-term funding shortfall. The company said the provision of the loan facility to the AICF does not reduce James Hardie’s obligations under the Amended and Restated Final Funding Agreement.
At the end of the day, James Hardie shares were up 23c to $7.41.
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