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ANZ reports earnings; Aussie shares lower

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Published on: Thursday, October 29, 2009

Australian shares were over 1.5 per cent lower in morning trading led by the miners and bankers and following sharp drops on Wall Street overnight.

At midday, the S&P/ASX 200 was 88.5 points or 1.89 per cent lower to 4,596.6.

The All Ords lost 92.9 points or 1.98 per cent to 4,594.4.

By industry, energy lost 401 points or 2.53 per cent, materials were 360.6 points or 3.15 per cent lower, and financials dropped 102.6 points or 2.14 per cent. Health care was up 87.9 points or 1.04 per cent.

Among the miners, BHP Billiton lost $1.22 or 3.18 per cent to $37.18 and Rio Tinto dropped $2.98 or 4.65 per cent to $61.12.

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 lost $1.04 or 1.96 per cent to $51.99, Westpac was $0.57 or 2.13 per cent lower to $26.13 and NAB fell $0.64 or 2.15 per cent to $29.19. Suncorp-Metway was $0.29 or 3.27 per cent lower to $8.59.

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 $0.07 or 2.29 per cent to $2.99. Newcrest Mining dropped $1.03 or 3.04 per cent to $32.88.

In energy, Woodside Petroleum lost $1.29 or 2.67 per cent to $47.10 and Santos fell $0.42 or 2.74 per cent to $14.90.

And among the retailers, Woolworths was up $0.22 or 0.76 per cent to $29.04 and Wesfarmers was down $0.26 or 0.93 per cent to $27.79.

To Asia, and the Nikkei lost 161.07 points or 1.6 per cent to 9,913.98.

The Hang Seng lost 408.01 points or 1.84 per cent to 21,761.58.

Oil was at US$77.24 per barrel and gold was at US$1,030.7 per ounce. The Australian dollar was buying 89.71 US cents, 54.8 pence Sterling, 61.01 Euro cents and 81.27 Japanese yen. 

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