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
Arminius Capital’s Marcel von Pfyffer looks at the recovery in the US economy, and what’s on the radar for interest rates. (Broadcast Wednesday 1 October 2014.)
Is the sell-off over? To discuss what we can expect on the stock market, and whether it’s in buying range, JB Were’s Mike Kendall joins Switzer TV. (Broadcast Wednesday 1 October 2014.)
Recent economic news from Europe in my view sends a message that authorities believe that there is a clear and present danger of deflation across the entire area.
The Dow dropped 238 points and Ebola was blamed, but there's a lot of other worrying stuff out there.
Are biotech stocks a good buy? Business commentator James Dunn looks at life science companies, one of the largest sectors on the ASX. (Broadcast Tuesday 30 September 2014.)
Happily retired and thinking of taking a leisurely cruise around the Mediterranean? Well, you might need to think again.