1. Most Discussed
  2. Gainers & Losers
FXJ 12.5¢

News: Market Wrap: Aus shares end record winning streak

  1. The Australian share market closed 0.06 per cent lower snapping a record breaking 12 day winning streak. The market opened lower and was kept below the red line by a sell off in the banks and miners until a late afternoon surge lifted the market to within cooee of its opening numbers. 
    The S&P/ASX 200 index closed 5 points down to finish at 5,815. 
    The value of trades was $4.36 billion on volume of 996 million shares at the close of trade. The top three stocks by value were Fairfax Media Limited (ASX:FXJ), Commonwealth Bank of Australia (ASX:CBA) and Telstra Corporation Limited (ASX:TLS)
    On the futures market the SPI is 8 points up.
    Economic news

    The ANZ has reported an eighth consecutive rise in job ads with January advertisements up 1.3 per cent month on month propelling a 10 per cent rise in the figures since January last year. Internet ads are up by 15 per cent year on year while newspaper ads are increasing their decline rapidly, down 24 per cent in the past 12 months. The figures are showing encouraging signs that the overall demand for new labour is rising.
    Company news
    Fairfax Media Limited's (ASX:FXJ) multi-billionaire shareholder Gina Rinehart is understood to have sold out of the media group. Ms Rinehart is believed to have offloaded her 14.99 per cent interest on Friday night. The trade was executed at 86.75 cents per share, valuing the stake at more than $300 million. Fairfax Media closed 8.85 per cent down at $0.88. 
    Ansell Limited (ASX:ANN) says it’s on track to deliver on its strategic objectives after increasing its interim net profit by 34 per cent on the back of recent acquisitions. The gloves and condoms maker delivered a first half net profit of $US87.7 million while sales grew 20 per cent to $US847 million. The company said improving conditions in the US offset weakening markets elsewhere and confirmed its full year guidance. Shares in Ansell closed 5.38 per cent up at $24.30. 
    Strong housing market conditions have helped AVJennings Limited (ASX:AVJ) improve first half net profit by 42 per cent to $11.9 million.
    Coffey International Limited (ASX:COF) half year results produced a profit of just $1 million and revealed a 8 per cent drop in geoservices revenue compared to the same period last year.
    Recently listed Lovisa Holdings Limited (ASX:LOV) has confirmed its prospectus forecasts after boosting first half sales by 33 per cent and growing net profits 66 per cent to $12.3 million. 
    And shares in Central Petroleum Limited (ASX:CTP) spiked more than 38 per cent after providing an update for its Dingo Gas project and announcing early gas sales. The Dingo Gas Field remains under budget and slated for completion in the second quarter of this year. 
    Best and worst performers

    The best performing sector was healthcare adding 1.9 per cent to close at 18,559. The worst performing sector was telco services, losing 1.2 per cent to close at 2,268 points.
    The best performing stock in the S&P/ASX 200 was MMA Offshore, rising 7.82 per cent to close at $0.96. Shares in Skilled Group and Sirtex also closed higher.
    The worst performing stock was the aforementioned Fairfax Media. Shares in Beadell Resources and PanAust also closed lower. 

    Gold is trading at $US1,237 an ounce. Light crude is $1.21 higher at $US51.69 a barrel. The Australian dollar is buying 77.65 US cents. 

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.