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ASX Market Report

Fixed Interest
Close Points
Currency Close Points
All Ordinaries 5529 -44 -0.79 $A vs $US 0.7508 -0.0015 -0.20
S&P/ASX 200 5433 -45 -0.83 $A vs GBP 0.5730 -0.0012 -0.21
10-year Bond Rate 1.84 -0.01 -0.54 $A vs YEN 77.50 0.12 0.15
  $A vs EUR 0.6737 -0.0007 -0.11
  $A vs $NZ 1.0358 -0.0018 -0.18
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ASX Code Company Name Impact Recommendation
AIA Auckland International Airport Limited (AIA)
CCL Coca-Cola Amatil Limited (CCL)
CNU Chorus Limited (CNU)
MYX Mayne Pharma Group Limited (MYX)
BPT Beach Energy Limited (BPT)
ILU Iluka Resources Limited (ILU)
S32 South32 Limited (S32)

Wednesday 31 August - The Australian market had a weak start this morning with the downward trend continuing throughout the day to finish far below the red line. The broad-based falling among resource and health care stocks weighed down the market, while Harvey Norman posted gains after the announcement of favourable earnings results. Most sectors performed negatively, with only information technology ending in the green. The Australian dollar depreciated against most major currencies, with the exception of the Japanese yen.

The All Ordinaries fell 44.10 points (-0.79%) to 5,529.40 while the S&P/ASX 200 lost 45.30 points (-0.83%) to 5,433.00.

Adelaide Brighton (ABC)

Adelaide Brighton reported its financial results for the half year ended 30 June 2016, announcing a 0.5c increase in interim ordinary dividend to 8.5cps and a special dividend of 4.0cps, both franked to 100%. Statutory Net Profit After Tax (NPAT), which includes property transactions, was $77.1m for the period, representing Basic EPS of 11.9c. Excluding property transactions, NPAT for the half year was $75.8m, up 7.8% compared to the pcp, and excluding property transactions, Earnings Before Interest and Tax (EBIT) rose 6.6% to $110.6m versus pcp, reflecting revenue and margin growth and stronger contribution from JVs. Revenue of $686.0m was 1.2% higher than pcp. ABC lost 23 cents (-4.20%) to $5.25.

Harvey Norman Holdings (HVN)

Harvey Norman Holdings provided presentation of results for the year ended 30 June 2016. The Company reported EBIT of $522.47, up +27.1% from the pcp; profit before tax $493.76m, up +30.6%; Net Profit After Tax of $348.61m, up +30.0%. Franchisee sales remained strong in the period 1 July 2016 to 28 August 2016 with a 6.4% increase on a headline basis and a 6.6% increase on a comparable basis on the pcp. The Company declared dividend of 30.0cps. After a period of moderate investment, the consolidated entity intends to open a total of 7 new stores in the 2017 financial year. HVN added 14 cents (2.67%) to $5.38.

Independence Group NL (IGO)

Independence Group released its financial results for the year ended 30 June 2016. Revenue of $417m, a decrease of 16% compared to FY15. Underlying EBITDA of $137.5m. Net Loss After Tax of $58.8m, which was impacted by expensing of after tax business acquisition costs of $64m, and after tax exploration asset impairment losses of $24.9m. Net cash flows from operating activities of $95.2m. $179.5m spent towards completing the construction of the world-class Nova Nickel Project since it was acquired by the Company in September 2015. FY16 Final Dividend of 2 cps declared, with a record date of 8 September 2016, and payment date of 23 September 2016. Minimum surplus franking credit balance of $37.3m, post FY16 Final Dividend, available with future dividends. IGO dropped 14 cents (-3.67%) to $3.67.

The NZX rose 10.88 points (0.15%) to 7,398.83 while the Nikkei climbed 162.04 points (0.97%) to close at 16,887.40.

The Australian dollar was last quoted at 75.08 US cents.

Companies Holding Annual General Meeting (ASX 300):

Metcash Limited

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

AMP Limited

Fonterra Shareholders' Fund

Mineral Resources Limited

Mortgage Choice Limited

Navitas Limited

Platinum Asset Management Limited

Tatts Group Limited

The Star Entertainment Group Limited

Treasury Wine Estates Limited

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