Burrell Stockbroking and Superannuation is a longstanding Queensland company providing full stockbroking, superannuation, wealth management and advisory services to private clients, Not-for-Profit and other investment organisations.
U.S. markets closed lower overnight after a volatile session, weighed down by losses in healthcare and materials stocks.MORE >
The Australian market posted solid gains today, but ultimately ended the week lower amid losses in the bank banks and resource stocks.
Friday, 24th March, 2017
Most sectors performed positively, with only industrials finishing in the red. The Australian dollar was down against the greenback and had mixed results against other major currencies.
The All Ordinaries rose 42.10 points (0.73%) to 5,796.10 while the S&P/ASX 200 added 45.50 points (0.80%) to 5,753.50.
Fortescue Metals Group issued a US$1.0bn repayment notice for the 2019 Senior Secured Credit Facility. In line with its previously announced strategy, this US$1.0bn Term Loan repayment will be made at par on 30 March 2017 and will generate annual interest savings of US$38m. Following this repayment, the outstanding balance of the 2019 Term Loan will be reduced to US$976m. Productivity and efficiency initiatives have delivered sustained cost reductions and combined with market conditions are generating free cash flow. FMG remained unchanged at $6.26. Transurban Group announced that Westlink M7 (M7) will issue $435m of secured fixed rate 10-year, and $100m of secured fixed rate 10.5-year, A$ medium term notes (the Notes). M7 forms part of the NorthWestern Roads Group (NWRG), which was created to hold the M7 group and to develop the NorthConnex project. The Company has a 50% interest in the NWRG. The proceeds will be used to fully repay existing term bank debt which is due to mature in August 2017 and partly prepay existing term debt due to mature in August 2019. Settlement of the Notes is expected to occur on 31 March 2017 and is subject to customary closing conditions. The Notes will rank equally with M7's existing senior debt. TCL gained 3 cents (0.26%) to $11.39.
The NZX added 11.28 points (0.16%) to 7,073.83 while the Nikkei climbed 183.94 points (0.96%) at the time of writing to be last quoted at 19,269.25.
The Australian dollar was last quoted at 76.17 US cents
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7617||-0.0013||-0.17|
|$A vs GBP||0.6104||
|$A vs EUR||0.7074||-0.0003||-0.04|
|$A vs YEN||84.89||0.16||0.19|
|$A vs $NZ||