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ASX Market Report

Fixed Interest
Close Points
Currency Close Points
All Ordinaries 5399 29 0.55 $A vs $US 0.8768 0.0015 0.17
S&P/ASX 200 5412 29 0.54 $A vs GBP 0.5466 0.0005 0.09
  $A vs YEN 94.67 0.03 0.03
  $A vs EUR 0.6927 0.0008 0.12
  $A vs $NZ 1.1182 0.0007 0.06
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ASX Code Company Name Impact Recommendation
GEM G8 Education Limited (GEM)
LEI Leighton Holdings Limited (LEI)
SAI SAI Global Limited (SAI)
TLS Telstra Corporation Limited (TLS)
ARI Arrium Limited (ARI)

Friday 24 October - The Australian market opened higher today on the back of Wall Street rally overnight. Local stocks traded well above the flat-line throughout the day, buoyed by gains from the big banks and upbeat earnings from Resmed and Qantas. Positive results were experienced across all the sectors while health care gained most significantly. The Australian dollar appreciated against most major currencies.

The All Ordinaries added 29.40 points (0.55%) to 5,399.30 while the S&P/ASX 200 gained 29.10 points (0.54%) to 5,412.20.

ResMed (RMD)

ResMed announced results for its quarter ended 30 September 2014. Revenue for the quarter was $380.4m, a 6% increase compared to the quarter ended 30 September 2013 (pcp) (also a 6% increase on a constant currency basis). Net income was $83.3m, an increase of 3% compared to the pcp. Diluted earnings per share for the quarter were $0.58, an increase of 4% compared to the pcp. Revenue outside the Americas was $173.2m, an 11% increase over the prior year's quarter (also an 11% increase on a constant currency basis). Revenue in the Americas was $207.2m, a 3% increase compared to $201.5m in the prior year's quarter. Gross margin in the first quarter was 62.4%, 130 basis points lower than the prior year, mainly due to declines in average selling prices and an unfavourable product mix, which were partially offset by manufacturing and supply chain improvements. RMD soared 35 cents (6.52%) to $5.72.

Qantas Airways (QAN)

Qantas Airways advised that group passenger numbers for September 2014 increased by 2.7% from the previous year. Group capacity (Available Seat Kilometres) increased by 0.7% and group demand (Revenue Passenger Kilometres) increased by 2.2%, resulting in a revenue seat factor of 79.6% which was 1.1 percentage point higher than the previous year. Group Domestic capacity in the month was marginally lower compared to the pcp. Capacity growth at QantasLink was driven by the introduction of B717 services on routes including Canberra and Hobart. For September 2014, group yields were higher than the pcp. Group passenger numbers for the financial year to date increased by 3% from the previous year. Group capacity increased by 1.1% and demand increased by 2.9%, resulting in a revenue seat factor of 80.1% which was 1.4 percentage points higher than the previous year. QAN rose 5 cents (3.64%) to $1.42.

At the time of publication, the Nikkei was quoted at 15,281.76. The NZX closed at 5,333.83 up 41.00 (0.77%).

The Australian dollar was last quoted at 87.68 US cents.

Companies Holding Annual General Meeting (ASX 300):

Amalgamated Holdings Limited Limited

GWA Group Limited

Qantas Airways Limited

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