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. stocks extended their record winning streak overnight, with all three equity benchmarks ending at all-time highs.MORE >
The Australian market opened lower this morning as major miners dipped lower and CBA traded ex-dividend, despite a strong lead from the U.S. market overnight.
Wednesday, 22nd February, 2017
At midday, A rally in Woolworths and Coca-Cola Amatil helped the ASX reverse all early losses and rose steadily in the afternoon to finish at its intraday high. Most sectors posted positive results for this session, with only materials and financials closing in the red. The Australian dollar appreciated against most major currencies.
The All Ordinaries rose 14.70 points (0.25%) to 5,850.10 while the S&P/ASX 200 added 14.10 points (0.24%) to 5,805.10.
APA Group announced an increase of 13.8% or $92.1m in EBITDA for the six months to December 2016 of $759.7m, compared to the pcp (1H FY16: $667.6m). An interim distribution of 20.5c per security was declared, in line with the estimate announced in December 2016 and representing an increase of 7.9% or 1.5c per security over the pcp (FY16 interim: 19.0c per security). Revenue (excluding pass-through revenue) increased by $141.8m to $954.3m, an increase of 17.5% on the pcp (1H FY16: $812.5m). APA gained 3 cents (0.35%) to 8.71.Fairfax Media reported revenue of $913m, down 4.7% from the pcp. Net profit after tax of $83.7m, compared with $27.4m in the pcp. EPS growth of 9% benefited from the share buy-back program. Group Operating EBITDA of $145m was achieved from revenue of $903m. FXJ lifted 7 cents (8.05%) to $0.94. IAG announced a 1H2017 insurance profit of $571m (1H2016: $610m) and a reported insurance margin of 13.5% (1H2016: 14.9%), as it continued its drive to build an increasingly customer focused organization. Gross written premium (GWP) for the half was slightly above expectations at $5.8bn, a 4.7% increase on 1H2016 ($5.5bn), predominantly due to rate increases to counter higher claim costs in short tail personal lines in Australia and NZ, and improved commercial pricing. IAG added 1 cent (0.17%) to $5.92.
The NZX fell 53.21 points (-0.75%) to 7,062.48 while the Nikkei dropped 16.5 points (-0.09%) at the time of writing, to be last quoted at 19,364.94.
The Australian dollar was last quoted at 76.86 US cents.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7686||0.0014||0.18|
|$A vs GBP||0.6149||
|$A vs EUR||0.7293||0.0013||0.18|
|$A vs YEN||87.28||0.04||0.04|
|$A vs $NZ||