ASX Market Report
|All Ordinaries||4883||-139||-2.78||$A vs $US||0.7037||-0.0037||-0.52|
|S&P/ASX 200||4832||-143||-2.88||$A vs GBP||0.4879||-0.0020||-0.40|
|$A vs YEN||80.68||-1.11||-1.36|
|$A vs EUR||0.6277||-0.0044||-0.69|
|$A vs $NZ||1.0661||-0.0027||-0.26|
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|ASX Code||Company Name||Impact||Recommendation|
|ANN||Ansell Limited (ANN)|
|JBH||JB Hi-Fi Limited (JBH)|
|OFX||OzForex Group Limited (OFX)|
|VED||Veda Group Limited (VED)|
|WHC||Whitehaven Coal Limited (WHC)|
Tuesday 9 February - The local market opened lower today on the back of losses on Wall Street overnight with growing concerns over the health of the global economy. The negativity continued until close as stocks remained well below the flat-line, weighed down by the banking sector. There were poor results from all the sectors with healthcare, financials and energy the worst performers. The Australian dollar fell against most major currencies.
The All Ordinaries fell 139.50 points (-2.78%) to 4,882.60 while the S&P/ASX 200 lost 143.30 points (-2.88%) to 4,832.10.
Bank of Queensland (BOQ)
Bank of Queensland announced that it is embarking on a program to reshape its organisational structure to better affect the Group's strategy. To enable these organisational changes to be implemented, an investment in the order of $15m (pre-tax) is anticipated to be incurred over the course of FY16. This expense will not be excluded from Cash Earnings in FY16. The investment required to implement the change initiatives should deliver 100% payback through cost savings within 12 months. BOQ lost 103 cents (-8.12%) to $11.66.
Southern Cross Media Group (SXL)
Southern Cross Media Group announced that the Company has entered into a long-term contract with Australian Traffic Network (ATN) for it to provide traffic reports for broadcast on the Company's radio stations. The Company will receive payment from ATN in return for its stations broadcasting advertising tags attached to news and traffic reports. ATN has been the Company's provider of traffic reports for over 10 years. This new contract will commence with effect from 1 February 2016. The term of the contract is for 20 years, with an option for ATN to extend by 10 years. The $100m up-front cash payment will be used by the Company to reduce leverage and financing costs and to provide future balance sheet flexibility. SXL gained 2 cents (1.80%) to $1.13.
The NZX 50 lost 82.48 points (-1.34%) to 6,071.32 while the Nikkei dropped 853.13 (-5.01%) points at the time of writing, to be last quoted at 16,151.17.
The Australian dollar was last quoted at 70.37 US cents.
Companies commencing Ex-Dividend Trading Today (ASX 300):
Tabcorp Holdings Limited
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