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.
All three main U.S. stock indexes ended at all-time highs overnight, as Federal Reserve policy makers began a two-day policy meeting in which they're expected to finalise the details of their plan to begin slowly shrinking the central bank's $4.5 trillion balance sheet.MORE >
The local market opened higher on the back of gains on Wall Street
Tuesday, 19th September, 2017
However, the positivity was short-lived as stocks fell below the flat-line shortly after midday and closed lower, weighed down by consumer stocks on the back of the RBA highlighting rising household debt and stagnant wage growth. There were mixed results from the sectors; telecommunication services and materials gained most significantly while health care was the worst performer. The Australian dollar gained against most major currencies.
The All Ordinaries fell 6.60 points (-0.11%) to 5,772.40 while the S&P/ASX 200 fell 7.00 points (-0.12%) to 5,713.60.
QBE Insurance Group announced that it has mandated HSBC Bank Credit Agricole Corporate and Investment Bank and National Australia Bank in connection with a proposed issue of Senior Notes to be issued under its U.S.$4000.00m Medium Term Note Programme. If a transaction eventuates, pricing and further details in relation to the Notes will be the subject of a further announcement. QBE added 7 cents (0.67%) to $10.48. TPG Telecom provided FY2017 results commentary. As at the year-end the Group had $735m of undrawn debt facilities. Subsequent to the year-end, in September 2017, the Group has increased its total committed debt facilities by a further $750m to $2,385m in order to finance its spectrum commitments and planned mobile network builds. The final FY2017 dividend takes total FY2017 dividends to 10.0 cps fully franked. The Group delivered cashflow result in FY2017 with $869.7m cash generated from operations (pre-tax). EBITDA for the period increased by 5% to $890.8m. TPM added 27 cents (5.17%) to $5.49.
The NZX 50 added 5.82 points (0.08%) to 7,764.53 while the Nikkei rose 389.88 points (1.96%) to close at 20,299.38.
The Australian dollar was last quoted at 79.81 US cents.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7981||0.0012||0.15|
|$A vs GBP||0.5897||
|$A vs EUR||0.6653||-0.0010||-0.14|
|$A vs YEN||89.16||0.30||0.34|
|$A vs $NZ||