Australian Stocks: What Happened Today?

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            [1] => ((ALL))
            [2] => ((CAB))
            [3] => ((BHP))
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This story features ARISTOCRAT LEISURE LIMITED, and other companies.
For more info SHARE ANALYSIS: ALL
The company is included in ASX20, ASX50, ASX100, ASX200, ASX300 and ALL-ORDS

By Stephen Hogan, Senior Private Client Adviser, Equities/Derivatives

Australian Market

The Australian market (XJO) closed up 4 points or 0.08% to 4974.7 today. Our market moved both ways over the day with a high of 4993 and a low of 4960.3 to finish flat. Overnight U.S. markets closed higher, with consumer confidence data reaching its highest level since 2008. The Dow Jones rose 106.29 points or 0.69% to 15,409.40, hitting a fresh record high once again, and the S&P 500 gained 10.46 points or 0.63% to 1,669.16. Some more data released was house prices rising in the 12 months through March by the most in seven years as the recovery in residential real estate gained momentum. The S&P/Case-Shiller index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February. In Europe markets closed higher. The FTSE 100 rose 107.67 points or 1.62% to 6,762.01 and the DAX rose 97.57 points or 1.16% to 8,480.87.

An economic data release today of construction work done showed number fell 2% in the March quarter, missing expectations of 2% growth. Total building work done in the March quarter, including homes and non-residential buildings like offices and shops, fell 1.1% from the December quarter. Engineering work done, including mines, roads and bridges, was down 2.5% in the quarter.

The ANZ bank is set to spend $425 million buying back some of its shares. ANZ's dividend reinvestment plan and bonus option plan offered after its half year results in April allowed shareholders to take up new shares rather than receive a cash dividend. ANZ's buyback will begin no earlier than June 2013.

The gaming machine supplier Aristocrat Leisure Limited (ALL) has increased its dividend amount to of 7 cents a share on June 28, previously 4 cents, after its first half profit grew by 11 per cent. Aristocrat made a net profit of $52.6 million in the six months to March 31. Chief executive Jamie Odell said Aristocrat's full year net profit is expected to be higher than the previous year's $91.7 million. The company plans to return more money to shareholders, as they lift the payout ratio to 80% of net profits up from 60%.

AUD is currently trading at $0.9538, down $0.0076 against the USD. The Aussie dollar hit 19 month lows in trade last night.

Top Performers

Ten Network Holdings Limited ((TEN)) up $0.027 or 10.38% to $0.287

Boart Longyear Limited ((BLY)) up $0.055 or 9.02% to $0.665

Western Areas Limited ((WSA)) up $0.20 or 7.30% to $2.94

Aristocrat Leisure Limited ((ALL)) up $0.28 or 6.91% to $4.33

Panaust Limited ((PNA)) up $0.145 or 6.47% to $2.385
 
Bottom Performers

Mirabela Nickel Limited ((MBN)) down -$0.023 or -11.79% to $0.172

Coalspur Mines Limited ((CPL)) down -$0.035 or -11.67% to $0.265

Cabcharge Australia Limited ((CAB)) down -$0.21 or -5.06% to $3.94

Silver Lake Resources Limited ((SLR)) down -$0.03 or -3.75% to $0.77

Seek Limited ((SEK)) down -$0.37 or -3.52% to $10.13

Our Comments

Very encouraged by BHP Billiton ((BHP)) price action today, thought there may be more downside but I think we have seen a low in that stock now. A bounce to $39 should take place.

(For a more comprehensive summary of last night’s market action see FNArena’s Overnight Report.)
 

Re-published with permission. Views expressed are not by association FNArena's (see our disclaimer).

Stephen Hogan is an Authorised Representative of Novus Capital. Authorised Representative No.345411 – http://www.stephenhogan.com.au

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