Shares lower at close; Orica and Dulux report
Australian shares closed lower today despite Wall Street closing slightly higher over the weekend.
The S&P/ASX 200 fell 22.2 points, or 0.46 per cent, to 4778.4.
The All Ords was 17.6 points, or 0.36 per cent, lower to 4855.3.
Among the major miners, Rio Tinto gained $0.20, or 0.23 per cent, to $87.40 and BHP Billiton lost $0.11, or 0.24 per cent, to $45.16. Fortescue Metals was $0.03, or 0.44 per cent, lower to $6.79.
In financials, Westpac fell $1.07, or 4.58 per cent, to $22.29, CBA shaved off $0.04, or 0.08 per cent, to $48.84, ANZ lost $0.02, or 0.08 per cent, to $24.07 and NAB was $0.04, or 0.15 per cent, higher to $26.01.
To energy, and Woodside Petroleum put on $0.11, or 0.24 per cent, to $45.86, Santos added $0.22, or 1.68 per cent, to $13.30 and Oil Search was $0.12, or 1.76 per cent, higher to $6.94.
And in retail, Woolworths lost $0.03, or 0.1 per cent, to $28.75 and Wesfarmers lost $0.09, or 0.27 per cent, to $33.83.
In news today, Orica announced net profit rose 4.6 per cent compared with a year ago to $675.8 million in the year ended 30 September, which includes the earnings from DuluxGroup up until its demerger in July. Revenue fell 11.8 per cent to $6.54 billion. Orica Managing Director and CEO Graeme Liebelt said the company expects net profit in 2011 to be higher than reported in 2010, “subject to the rate of global economic recovery and extent of further adverse movements in exchange rates”. Shares rose $0.74, or 2.88 per cent, to $26.44.
DuluxGroup announced statutory net profit of $61.3 million for the year ended 30 September. Pro forma net profit before one-off demerger costs of $2.8 million was $71.5 million. The company said it expects higher net profit in 2011 subject to economic conditions. Shares were unchanged at $2.70.
To overseas markets and the Nikkei gained 82.9 points, or 0.86 per cent, to 9708.9 and the Hang Seng was 25.7 points, or 0.1 per cent, lower to 24,851.2.
The Australian dollar was buying US$1.05, 62.83 pence Sterling, 72.62 euro cents and 82.36 Japanese yen.
Published on: Tuesday, November 09, 2010blog comments powered by Disqus
Today on Switzer
Howard Bellin shares his tips on successful franchising and more.
The Australian share market closed higher on Thursday, continuing its recent strong run.
Intentional or not, he was proved to have misled ICAC. Even then, he maintained the "I don't recall" defense.
Expect more volatility in shares this year as earnings take over as a key driver and Fed rate hikes gets closer.
Just when the stock market looked like it was heading down, good oil seems to be saying we're off to the races again!