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ASX Market Report

Equities/
Fixed Interest
Close Points
Changed
%
Change
Currency Close Points
Changed
%
Change
All Ordinaries 5615 35 0.62 $A vs $US 0.9378 -0.0004 -0.04
S&P/ASX 200 5623 25 0.62 $A vs GBP 0.5534 -0.0001 -0.02
  $A vs YEN 95.79 0.02 0.02
  $A vs EUR 0.6996 -0.0001 -0.02
  $A vs $NZ 1.1014 -0.0004 -0.03
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ASX Code Company Name Impact Recommendation
ALQ ALS Limited (ALQ)
QBE QBE Insurance Group Limited (QBE)
BPT Beach Energy Limited (BPT)
NAB National Australia Bank Limited (NAB)

Wednesday 30 July - The Australian market rallied during early trade and maintained that momentum throughout the day, boosted by gains from QBE and Tabcorp. All sectors finished in the black. The Australian dollar fell against most major currencies.

The All Ordinaries gained 34.50 points (0.62%) to 5,615.10 while the S&P/ASX 200 gained 34.50 points (0.62%) to 5,622.90.

AWE (AWE)

AWE provided its June 2014 quarterly activities report, reporting full year production 5.6 MMBOE, up 13% on previous financial year; quarterly production of 1.3 MMBOE, in line with previous quarter; major upgrade to Sugarloaf Reserves and Resources - development drilling accelerated with 30 wells commenced during the quarter; and AAL FEED work on the well head platform is nearing completion and tender plans for the FPSO are being progressed with the regulator. The Company also reported three-well Perth Basin unconventional gas exploration program commenced; gas readings, core samples and well logs from Drover-1 well being analysed; and net cash of $42m, undrawn debt facilities of $300m at 30 June 2014. AWE gained 3 cents (1.39%) to $1.83.

Tabcorp Holdings (TAH)

Tabcorp Holdings announced that it has agreed with the ACT Government to acquire ACTTAB for $105.5m. ACTTAB is a Territory-owned provider of totalisator and fixed odds wagering, Keno and Trackside products. As part of the acquisition, the ACT Government will issue to the group a 50-year exclusive totalisator licence, a sports bookmaking licence for an initial term of 15 years with further rolling extensions to a total term of 50 years, and ongoing approvals to offer Keno and Trackside products for 50 years. The group intends to fund the acquisition from existing bank facilities. The group expects the acquisition will generate EBITDA of approximately $14m in the year following completion of integration of the business and will be EPS accretive. Integration is expected to take around 12 months. TAH gained 4 cents (1.16%) to $3.50.

At the time of publication, the Nikkei was quoted at 15,646.23. The NZX closed at 5,158.55.

The Australian dollar was last quoted at 93.78 US cents.

Companies Holding Annual General Meeting (ASX 300):

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