Yesterday the Australian share market improved for the second
straight day, with the All Ordinaries Index (XAO) finishing
higher by 14.1 points to 4,441 points.
Overnight European markets closed weaker even with the new
that the largely antiscipated Spanish Bond auction did go well.
In the US the markets opened weaker and closed lower as investors
weighed up weak economic data against good corporate results. The
All Ordinaries Index (AOX) started off weaker this morning down
At lunchtime in the East, the All Ordinaries Index (XAO) the
index was down 8pts to 4,432 points.
The energy sector was once again in the spotlight after
yesterday's production numbers from Woodside Petroleum Limited
(WPL) and Santos Limited (
). Today Oil Search Limited (
) announced a new gas find near its P'nyang site in Papua New
Guinea. Oil Search share prices rallied 5 pct. to $7.35. At lunch
Woodside's share price had fallen by 0.37pct. to $34.91 and
Santos lifted by 0.36 pct to $14.09.
Bradken Limited (
) manufacturer of goods for the resources, energy and freight
rail industries today issued revised earnings guidance for 2012.
Bradken now expects its earnings before income tax (EBITDA) to be
between $210 and $220 million and its Net profit after Tax (NPAT)
to hit between $95 and $102million. This was because of issues
within the rail business pushed costs higher by $16 million and a
drop in sales of $35 million in relation to two of its contracts.
Bradken's share prices fell 10.8 pct. to $7.54 while its rivals
Emeco Holdings Limited (EHL) fell by 0.48pct. And Seven Group
) - through its caterpillar dealership - off a few cents.
Sydney Airport Limited (SYD) released its Sydney Airport March
2012 traffic report this morning. Total traffic increased by 2.5
pct. from the prior corresponding period - March 2011 (pcp), but
domestic traffic was down 0.3 pct. (pcp). The result was helped
by International traffic up 8.6% (pcp) as the international
business created higher revenue and profitability for the
company. The earlier timing of Easter and, in some states, school
holidays might have boosted numbers overall March traffic. SYD
share price started off well but by lunch had lost 1.03 pct. to
Yesterday, transport infrastructure business, Asciano (AIO)
reached an agreement with the Maritime Union of Australia for
container terminal workers across the country. Strike action has
already cost AIO over $15 million and lost time with almost two
years of negotiations.
Today Asciano's share price fell 0.8 pct by lunchtime.
Woolworths Limited (WOW) today released its third quarter
sales results for the 2012 financial year. Sales lifted in the
3rd quarter sales by 3.8 pct. but over the year sales in its food
and beverage business were flat. Woolworths reported total sales
of $14.07 billion in the 13 weeks to April 1, up from $13.56
billion in the previous corresponding period. Woollies shares off
0.4pct to $25.74, while rival Wesfarmers Limited (
), due to report its quarterly sales numbers next Tuesday, saw
its share prices gain 0.4 pct. to $29.48.
The Australian dollar is buying US103.27c and €78.29c.
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