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ASX Market Report

Fixed Interest
Close Points
Currency Close Points
All Ordinaries 5889 39 0.67 $A vs $US 0.7800 -- -0.39
S&P/ASX 200 5920 41 0.69 $A vs GBP 0.5252 -- -0.33
  $A vs YEN 92.96 -0.37 -0.39
  $A vs EUR 0.7167 -- -0.37
  $A vs $NZ 1.0295 -- -0.23
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ASX Code Company Name Impact Recommendation
BKW Brickworks Limited (BKW)
SOL Washington H. Soul Pattinson and Co. Limited (SOL)
AWC Alumina Limited (AWC)
FSF Fonterra Shareholders' Fund (FSF)
BOQ Bank of Queensland Limited (BOQ)

Friday 27 March - Local stocks opened flat on the back of an uninspiring US lead overnight. The sharemarket surged higher shortly after open as investors began picking up oversold bank and retail stocks, and continued that momentum throughout the day. Most sectors performed positively, with only energy lagging behind the rest. The Australian dollar depreciated against most major currencies.

The All Ordinaries added 39.20 points (0.67%) to 5,888.90 while the S&P/ASX 200 gained 40.80 points (0.69%) to 5,919.90.

Fletcher Building (FBU)

Fletcher Building announced that its subsidiary, Fletcher Construction, has entered into a conditional agreement to construct a new office building in Auckland's Wynyard Quarter. The building will comprise one level of retail space and six levels of office space along with 152 car parks, and has been substantially leased to IT service provider Datacom. The property is designed to a five star green star certified rating standard. Wynyard Precinct Holdings, the JV between Goodman Property Trust and Singapore's sovereign wealth fund GIC, has conditionally agreed to purchase the property on completion of construction from Fletcher Building in March 2017, for NZ$86.2m. Goodman Property Trust will also finance the construction of the building by way of a funding arrangement with the Company. FBU rose 3 cents (0.36%) to $8.25.

Beach Energy (BPT)

Beach Energy advised the outcomes of DeGolyer and MacNaughton's (D&M) review of contingent resources in ATP 855 (Beach 46.9% and operator, Icon Energy 35.1%, Chevron Exploration 1 Pty 18%). D&M, an independent resource estimating firm based in Dallas, Texas, was engaged to evaluate well results from the Nappamerri Trough Natural Gas (NTNG) program following completion of the fourwell fracture stimulation and flow testing campaign undertaken in ATP 855 in the latter half of 2014. The previous assessment of contingent resources, dated 30 June 2013, was made following the stimulation and flow testing of Halifax-1. In the current assessment, D&M has assigned contingent resources to the areas around Etty-1, Hervey-1, Redland-1 and Geoffrey-1, incorporating results from fracture stimulation and flow testing undertaken. BPT stayed unchanged at $1.08.

At the time of publication, the Nikkei was quoted at 19,220.29. The NZX closed at 5,854.25 up 21.08 (0.36%).

The Australian dollar was last quoted at 78.00 US cents.

Companies commencing Ex-Dividend Trading Today (ASX 300):

360 Capital Industrial Fund

Arena REIT

Beadell Resources Limited

Cabcharge Australia Limited

Cromwell Property Group

Folkestone Education Trust

G8 Education Limited

Northern Star Resources Ltd

SEEK Limited

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