ASX Market Report
|All Ordinaries||5724||-46||-0.80||$A vs $US||0.7764||0.0021||0.27|
|S&P/ASX 200||5725||-48||-0.83||$A vs GBP||0.5036||0.0008||0.15|
|$A vs YEN||95.45||0.25||0.26|
|$A vs EUR||0.7110||-0.0001||-0.01|
|$A vs $NZ||1.0689||0.0006||0.06|
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|ASX Code||Company Name||Impact||Recommendation|
|TPI||Transpacific Industries Group Ltd (TPI)|
Wednesday 27 May - Local stocks ended a four-day gaining streak as a weak lead from offshore sharemarkets triggered a broad-based sell-off in the local session. Major losses from index heavyweights BHP and RIO weighed heavily on the market, whilst weakness among the big banks further exacerbated the downward slide. Negative results were experienced across most sectors with only information technology closing marginally higher. The Australian dollar appreciated against most major currencies with the exception of the Euro and Swiss Franc.
The All Ordinaries fell 46.20 points (-0.80%) to 5,724.20 while the S&P/ASX 200 lost 48.10 points (-0.83%) to 5,725.30.
SEEK announced that its subsidiary, Zhaopin a leading career platform in China focused on connecting users with relevant job opportunities through their career lifecycle, announced its unaudited financial results for the quarter ended 31 March 2015. This information is presented in Renminbi (RMB) and prepared under A-IFRS in accordance with the Company's accounting policies. The financial information in the table will differ to what is presented in Zhaopin's Q3 FY15 results announcement. Zhaopin's financial information in its Q3 FY15 results announcement is prepared in accordance with generally accepted accounting principles in the USA. SEK dropped 12 cents (-0.71%) to $16.75.
Aveo Group (AOG)
Aveo announced that it has terminated the remaining $150m of interest rate swaps. The termination of the interest rate swaps and the fall in floating interest rates has significantly reduced the Group's weighted average cost of debt from 5.8% per annum at 31 December 2014 to currently 4.0% per annum. This reduces the Group's annual cash interest expense by over $7.5m. The Group expects its weighted average cost of debt to reduce below 4.0% by 30 September 2015, following the practical completion of The Milton project and repayment of the $108.5m project finance facility, which is expected to occur in the first quarter of FY16. AOG added 5 cents (1.79%) to $2.85.
At the time of publication, the Nikkei was quoted at 20,472.58. The NZX closed at 5,757.94 down 37.92 (-0.65%).
The Australian dollar was last quoted at 77.64 US cents.
Companies Holding Annual General Meeting (ASX 300):
Adelaide Brighton Limited
Iproperty Group Limited
Tiger Resources Limited
Companies commencing Ex-Dividend Trading Today (ASX 300):
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