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AGL makes profit over year; Aussie stocks over 2pc lower

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Published on: Friday, October 30, 2009

Australian shares finished the day over two per cent lower with the banks and the miners leading the falls.

The S&P/ASX 200 dropped 110.4 points or 2.36 per cent to 4574.7.

The All Ords lost 112.1 points or 2.39 per cent to 4575.2.

By industry, energy lost 454.9 points or 2.87 per cent, materials were 390.9 points or 3.42 per cent lower, industrials dropped 61.9 points or 1.64 per cent and financials were 136.3 points or 2.84 per cent lower.

Among the miners, BHP Billiton was $1.27 or 3.31 per cent lower to $37.13 and Rio Tinto lost $3.12 or 4.87 per cent to $60.98.

ANZ today reported an 11 per cent decrease in annual statutory profit to $2.943 million for 2009. The bank said the total credit impairment charge was up 46 per cent to $3.056 million, with the highest percentage growth in New Zealand. Shares were $0.50 or 2.14 per cent lower to $22.85.

CBA was $1.58 or 2.98 per cent lower to $51.45, Westpac dropped $0.60 or 2.25 per cent to $26.10 and NAB fell $0.78 or 2.61 per cent to $29.05.

Lihir Gold said today it is “well on track to meet full year production guidance” of 1 to 1.2 million ounces. The gold miner met quarterly production targets. Shares lost $0.08 or 2.61 per cent to $2.98. Newcrest Mining dropped $1.45 or 4.28 per cent to $32.46.

AGL announced underlying profit was up 11.1 per cent to $378.8 million over the 2009 financial year. The company forecast underlying profit of $390 million to $420 million in the 2010 financial year. Shares finished to day up $0.12 or 0.9 per cent to $14.05.

Woodside Petroleum lost $1.70 or 3.51 per cent to $46.69, Santos dropped $0.42 or 2.74 per cent to $14.90 and Oil Search took off $0.04 or 0.67 per cent to $5.89.

And in retail, Wesfarmers lost $0.10 or 0.36 per cent to $27.95, and Woolworths dropped $0.17 or 2.81 per cent to $28.65.

Around Asia, the Nikkei had lost 172.76 points or 1.71 per cent to 9,902.29. The Hang Seng dropped 525.7 points or 2.42 per cent to 21,235.88.

Oil was at US$77.22 per barrel and gold was at US$1032.2 per ounce. The Australian dollar was buying 89.87 US cents, 54.81 pence Sterling, 61.01 Euro cents and 81.24 Japanese yen.  


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