Results: Boral Profit Up, Market Likes Qld Comments
The market loved Boral’s profit announcement yesterday, sending the shares 9% higher at one stage.
Read MoreThe market loved Boral’s profit announcement yesterday, sending the shares 9% higher at one stage.
Read MoreSecurities in Stockland added more than 3% yesterday, hitting their highest level since last October, after the property developer said it almost doubled first-half profit and upgraded its full-year earnings outlook to growth of 8.5% from 7% previously.
Read MoreShareholders who stuck with OZ Minerals through the dark days of 2008-09, or who bought the shares in 2009 amid considerable scepticism about whether it would survive, will get a nice fat payoff after the boom 2010 financial year result.
Read MoreFour years ago, the Commonwealth Bank’s share price was $51 and the interim profit was $2.2 billion.
Read MoreThe market took a negative view of yesterday’s interim result from Bradken Ltd, the rail and engineering group, sending the shares down more than 6% at one stage, despite a solid rise in earnings and a lift in dividend.
Read MoreHearing implant maker Cochlear may have beaten analyst forecasts with a 16% rise in first-half net profit on an 8% rise in sales, but it couldn’t win over a suddenly sceptical market yesterday.
Read MoreA gentle fudge from Macquarie Group yesterday with its latest operational update?
Read MoreThe Reserve Bank and the federal government reckon the floods in Queensland and Victoria could lop half a per cent off economic growth, mostly in the December and March quarters.
Read MoreA sigh of relief was heard around the markets yesterday as both Macquarie Group (see below) and the National Australia Bank revealed slightly better than forecast trading updates.
Read MoreIn contrast to Myer, JB Hi-Fi’s interim performance was solid, a record for sales and profits, even if it was down on what the company was telling us was happening at the time of the annual meeting in October.
Read MoreIn a shock move, underperforming rail and ports operator Asciano Ltd has replaced its CEO, Mark Rowsthorn with the appointment of the former global head of freight giant, DHL Express, John Mullen.
Read MoreArgo Investments, the country’s second biggest Listed Investment Company, says it is cashed up and looking to invest if it sees opportunities.
Read MoreDepartment store chain Myer Holdings has lowered its guidance for net profit in 2010-11, saying it now expects profit to be up to 5% below that of 2009, following a first half characterised by "fragile consumer confidence".
Read MoreThe damage to the retailing sector from the sluggish spending in the closing months of 2010 was underlined in a trio of reports yesterday (see stories below).
Read MoreThe Reserve Bank says the floods and cyclone Yasi will have an impact on the country’s economic performance in 2011 and 2012.
Read MoreQBE Insurance shares jumped sharply on Friday after the company said it will buy the insurance portfolio of US insurer Balboa from Bank of America.
Read MoreUS stocks ended higher on Friday and the Standard & Poor’s 500 posted its best week in the last nine as the market pressure for a correction and investors puzzled over a very conflicting January jobs report.
Read MoreThe week ahead is the first of the big weeks for interim earnings reports in Australia this month.
Read MoreGold and oil fell Friday and copper continued its emergence as the new commodity of choice for punters of all shapes and sizes.
Read MoreAustralian car sales continued to hold up in January, as buyers seemingly downsized and slowed their switch to diesel and alternate fuel models.
Read MoreGaming company Tabcorp Holdings has posted half-year net profit up 2.9% on the first half of 2009-10.
Read MoreMuch has been written about the growth prospects in emerging economies and much more is now being written about the threat to that growth from rising inflation.
Read MoreIf the past week has shown anything about the Australian economy it remains remarkably resilient.
Read MoreThe Australian trade surplus narrowed in December, according to the Australian Bureau of Statistics.
Read MoreRupert Murdoch’s News Corp saw earnings growth slow to just 6% in the second quarter, according to the company’s latest report this morning.
Read MoreBad news in two statements to the ASX yesterday for New Hope Corporation, the southeast Queensland coal group and investor controlled by the Soul Pattinson group.
Read MoreLess than a week after revealing unexpected losses of around $23 million because of a currency option, PaperlinX has revealed overhead cuts of around $15 million by restructuring its head office.
Read MoreCyclone Yasi crossed the Queensland coast last night with damaging winds and rain.
Read MoreThe cyclone will boost sugar prices temporarily as traders assess the damage.
Read MoreUnlisted miner, CBH Resources says it has received final NSW Government approval to develop the Rasp silver, zinc and lead project at Broken Hill in far western NSW.
Read MoreThe outlook for housing in 2011 may be cloudy, according to surveys from the NAB and the ANZ last week, but figures for 2010 show that they enjoyed a solid rise across the country.
Read MoreWell the two monthly surveys of Chinese manufacturing again had good and bad news yesterday.
Read MoreThe Reserve Bank is not worried about any short term impact on growth and inflation flowing from the impact of the floods in various states in the past few months.
Read MoreAs expected business confidence fell in December as concern about the floods in Queensland pushed it to its first negative reading in more than 18 months.
Read MoreThe big news story today is the Reserve Bank board meeting, the first for 2011 and the non-decision on interest rates.
Read MoreBarring the appearance of a rival bid (which has not been suggested by any reports) New Zealand-based Fletcher Building looks to have nabbed Crane Group after boosting its initial offer price.
Read MoreAs usual the hard heads in the market got the winners and losers right from yesterday’s debt ladened bid for Austereo by Southern Cross Media.
Read MoreWell, Coles Group confirmed what was the worst kept secret in Australian retailing for the past week, its sales grew faster did those of than rival Woolworths in the December quarter and half year.
Read MoreThe flow of positive economic news about the Japanese economy continued yesterday.
Read MoreThe Egyptian protests continued through the weekend and that will worry investors, given the size of Friday’s sell-off in the US in particular
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