Australian Stocks: What Happened Today?

Array
(
    [0] => Array
        (
            [0] => ((BHP))
            [1] => ((SUN))
            [2] => ((WPL))
            [3] => ((BLD))
            [4] => ((APA))
            [5] => ((IIN))
            [6] => ((TRS))
            [7] => ((SEK))
            [8] => ((ILU))
            [9] => ((SUL))
            [10] => ((PPX))
            [11] => ((AIO))
            [12] => ((WEB))
            [13] => ((MML))
            [14] => ((DML))
            [15] => ((SLR))
            [16] => ((SBM))
            [17] => ((KCN))
            [18] => ((TME))
            [19] => ((BRU))
            [20] => ((SUL))
            [21] => ((CDU))
            [22] => ((GEM))
        )

    [1] => Array
        (
            [0] => BHP
            [1] => SUN
            [2] => WPL
            [3] => BLD
            [4] => APA
            [5] => IIN
            [6] => TRS
            [7] => SEK
            [8] => ILU
            [9] => SUL
            [10] => PPX
            [11] => AIO
            [12] => WEB
            [13] => MML
            [14] => DML
            [15] => SLR
            [16] => SBM
            [17] => KCN
            [18] => TME
            [19] => BRU
            [20] => SUL
            [21] => CDU
            [22] => GEM
        )

)

This story features BHP GROUP LIMITED, and other companies.
For more info SHARE ANALYSIS: BHP
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 21.8 points or 0.43% to 5100.0 today. The XJO was shaky to start the day but was boosted by a rise in the banks and more mixed corporate earnings figures. The first hour of trading was over and under opening price as the market digested BHP Billiton's ((BHP)) earnings released after close yesterday along with multiple other companies this morning. We hit the day's low of 5069.5 at 10:40am to turn around and trend higher for the day. The day's high was 5106.7, reached at 3:36pm and the market gapped 5.8 points on the match. We were supported by action overnight in the U.S. with the Dow Jones falling -7.75 points or 0.05% to 15,003.00, and the S&P 500 rising 6.29 points or 0.38% to 1,652.35, breaking a 4 day losing streak. The best performing sector was Gold followed by Information Technology, gaining 2.61% and 1.82%, while the worst sector was Metals and Mining, falling -1.01%.

In economic news, the Westpac-Melbourne Institute has released its Leading Indexes of Economic Activity for June, showing a slowing of economic growth. The growth rate of the index was 3.6% in the month, down from 4.9% in May however above its long term trend of 2.9%. 

Reporting season continues:
Suncorp Group Limited ((SUN)) reported its net income for FY13 of $491 million, 32% lower than the $724 million a year earlier. The result was in line with SUN's own guidance in July. SUN's banking unit recorded a loss of $343 million, significantly lower than the $26 million profit from a year earlier. SUN will pay a special dividend of 20c in addition to a final dividend of 30c. SUN is expecting a loss of around $480m to be posted in the second half of this year due to the express sale of its bank assets.

Woodside Petroleum Limited ((WPL)) reported a rise in its half yearly net profit to U.S. $873 million, up from U.S. $818 million previously. WPL's revenue came in at U.S. $2.86 billion, up from U.S. $2.80 billion. Earnings a share rose to US106c from US100c, it said. Production rose 22.5% to 41.9 million  barrels of oil equivalent (mmboe). WPL has now revised its full year output forecast to 85-89 mmboe, down from the 88-94 mmboe forecasted earlier. WPL raise its interim dividend to U.S. 83c a share, up from U.S. 65c last year.

Boral Limited ((BLD)) reported a net profit of $104.4 million for FY13, only just higher than the $101.2 million from a year earlier, while revenue rose 6% to $5.3 billion. Firm earnings from domestic cement and the US were offset by continued weakness in the domestic building products sector, and a flat performance by its gypsum unit. BLD was able to raise the final dividend to 6c a share, up from 3.5c previously, totalling an 11c annual payout.

APA Group ((APA)) reported a net profit of $298.8 million for FY13, more than doubling last year's $130.6 million. APA reported earnings before interest, tax, depreciation and amortisation for the year rose to $768.8 million, up from $525.8 million. Extraordinary items cut the final profit for the year to $178.7 million from $140.3 million. APA benefitted from the earlier acquisition of another pipeline group Hastings Diversified. Earnings a share rose to 23.1c from 21.9c following a share issue during the year. APA forecasts the payout to be maintained at 35.5c in the year ahead.

iiNet Limited ((IIN)) reported a net profit of $60.9 million for FY13, up 64% on last year. The country's second largest DSL internet provider said it had benefited from the integration of two acquired businesses, Internode and TransACT, over the year. IIN's total 2013 dividend was a fully franked 19c a share, up 36%. 

The Reject Shop Limited ((TRS)) reported a net profit of $19.5 million for FY13, down 10.9% from last year. TRS managing director Chris Bryce said, "Despite poor consumer sentiment and retail sales trends, we continue to trade well and we have now delivered positive comparable store sales growth in every quarter since re-opening the Ipswich distribution centre in October 2011." TRS declared a final dividend of 13c per share, to be paid in October. 

Seek Limited ((SEK)) reported a net profit of $141.1 million for FY13, up 8% from last year's $130.2 million. SEK chief executive Andrew Bassat said the result was achieved "despite subdued macro conditions. The key drivers of this result were strong growth across education (as a division), robust results in Seek international and a solid performance by Seek domestic." SEK posted a final dividend of 22c per share in October, up from 17.3c a year earlier

Iluka Resources Limited ((ILU)) reported a first half profit of $34.3 million, down from $274.4 million in the previous report. Sales revenue for the first half was $381.7 million, lower than the $662.8 million in the first half of 2012. ILU will pay a fully franked dividend of 5c in October.

Super Retail Group Limited ((SUL)) reported FY13 profits of $102.7 million, 23% higher than the year before. Sales revenue throughout the company's retailers, Ray's Outdoors, Super Cheap Auto and Rebel Sport was $2 billion. SRG will pay a fully franked final dividend of 21c in October.

PaperlinX Limited ((PPX)) reported a net loss of $90.2million for FY13, which is an improvement the $266.7 million loss the year before. Last year's loss included $214 million in losses from asset write downs, business sales and restructuring costs, while costs from restructuring and asset write downs in the 2012-13 financial year totalled $51.7 million. The company shed 600 staff or about 12% over the year.

Asciano Limited ((AIO)) reported a $340 million net profit for FY13, up 41.2% on last year. AIO issued a final dividend 6.25c per share.

Webjet Limited ((WEB)) reported a full-year net profit after tax of $6.5 million; $13.6 million lower than last year.

AUD is currently trading at $0.9035, down -$0.0036 against the USD.

Top Performers

Medusa Mining Limited ((MML)) up $0.40 or 17.24% to $2.72

Discovery Metals Limited ((DML)) up $0.015 or 10.34% to $0.16

Silver Lake Resources Limited ((SLR)) up $0.08 or 8.74% to $0.995

St Barbara Limited ((SBM)) up $0.05 or 7.04% to $0.76

Kingsgate Consolidated Limited ((KCN)) up $0.16 or 6.93% to $2.47

Bottom Performers

Trade Me Group Limited ((TME)) down -$0.29 or -6.94% to $3.89

Buru Energy Limited ((BRU)) down -$0.115 or -5.93% to $1.825

Super Retail Group Limited ((SUL)) down -$0.65 or -5.02% to $12.30

Cudeco Limited ((CDU)) down -$0.065 or -4.00% to $1.56

G8 Education Limited ((GEM)) down -$0.09 or -3.14% to $2.78

Our Comments

Good effort finishing up after a 5 day losing streak and a weak lead. Typically round numbers like 5100 can prove to be hard to break through, so it will be interesting to see what happens overseas tonight with the release of the FOMC minutes.  We are still favouring a bit of short term weakness here down to 5000 but we would view it as nothing to worry about. 

(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

Novus Capital Limited ("Novus") is holder of Australian Financial Services Licence No 238 168. Novus, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this e-mail or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised and also may change without notice to you, particularly if based on past performance or relate to a future matter.

Novus believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus is not obliged to provide you with updated information or advice if circumstances change. Novus, its directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this e-mail or an attached document.

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.

Click to view our Glossary of Financial Terms