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
With JB Hi-Fi’s share price up, are retail and consumer discretionary stocks set for a positive 2015? FNArena’s Rudi Filapek-Vandyck passes his judgement. (Broadcast Thursday 30 October 2014.)
For insights into the US Federal Reserve’s decision to end QE3, and what it means for stocks, AMP Capital Chief Economist Shane Oliver joins Switzer TV. (Broadcast Thursday 30 October 2014.)
A review of the US Federal Reserve decision; new home sales data and the trade price index – and the implications for interest rates.
US stocks up. US economy up. I'm not monkeying around‚ I'm a believer!
Ahead of the decision on QE3, how is the stock market likely to react and is everything going well enough to sustain a strong rally into the new year? Marcel von Pfyffer tackles this and more. (Wednesday 29 October 2014.)
Medibank is not a “high yielder” – and for my book, not “attractive”. Why are investors being misled?