1. Most Discussed
  2. Gainers & Losers
CSL $6.49

News: Midday: Aus shares dip despite strong earnings



  1. The local market opened higher today on the back of gains on Wall street but a strong set of earnings results didn’t stop the local bourse dipping 0.5 per cent into the red by midday. 
     
    Commonwealth Bank pushed net profit up 8 per cent in the first half, Stockland, CSL and AGL all also reported improved net profit figures up to the end of December last year.
     
    The S&P/ASX 200 index is 20 points down at 5,780. On the futures market the SPI is 26 points lower.
     
    Economic news 

    Westpac Bank-Melbourne Institute has shown a boost in consumer confidence with its sentiment index gaining 8 per cent to 100.7 in February. Australian Bureau of Statistics has shown a 4.7 per cent increase in total housing finance for December, with Australian’s demand for mortgages beating analysts expectations.
     
    Company news
     
    CSL Limited (ASX:CSL) has boosted its first half profit to $US692 million while cooling expectations on its full year guidance. The international biopharmaceutical company says sales revenue pushed up to $2.8 billion in the six months to the end of December last year with a 58c unfranked interim dividend declared. The company has lowered its net profit guidance growth from 12 per cent down to 10 per cent citing current trading conditions as being a challenge. Shares in CSL are trading down 8.07 per cent at $82.74
     
    Boral Limited (ASX:BLD) has reported a first half net profit with the turnaround coming on the back of its clay brick joint venture with CSR getting further approvals. The building supplies manufacturer says net profit reached $105 million for the first six months while total revenue fell 21 per cent to $2.3 billion. An interim dividend of 8.5 cents has been declared, which is up 21 per cent. Shares in Boral are trading down 0.94 per cent at $5.80

    Best and worst performers

    The best performing sector is utilities, gaining 1.6 per cent to 6,596. Shares in AGL Energy Limited (ASX:AGL) have risen 3.39 per cent and trading at $14.95. Shares in APA Group (ASX:APA) and AusNet Services (ASX:AST) are also stronger.
     
    The worst performing sector is health care, falling 3.9 per cent to 17,746. Shares in CSL Limited (ASX:CSL) have fallen 8.07 per cent, trading at $82.74. Shares in Cochlear Limited (ASX:COH) and Virtus Health Limited (ASX:VRT) are also lower. 
     
    Gold and the dollar

    Gold is trading at $US1,236 an ounce
    The Australian dollar is buying $US0.7784

DISCLAIMER:
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.

Top

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.