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. share markets finished higher overnight and set new records after a favourable jobs report was released, and as the month-long rally since the presidential election of Donald Trump continued.MORE >
The Australian market opened higher this morning, following positive leads from the U.S. markets overnight.
Thursday, 8th December 2016
The ASX index continued its early rally, with solid gains across the mining, financials and consumer staples sectors. Most sectors ended the session with profits, with only energy closing in the red. The Australian dollar appreciated against the greenback, and had mixed results against other major currencies.
The All Ordinaries added 63.60 points (1.15%) to 5,599.00 while the S&P/ASX 200 gained 65.50 points (1.20%) to 5,543.60.
Fortescue Metals Group reconfirmed its previously announced debt reduction strategy. Strong cash flows generated from low cost operations together with buoyant market conditions will continue to be applied to ongoing debt reduction and deliver further shareholder value. Productivity and efficiency initiatives have delivered sustainable cost reductions and have resulted in FMG becoming the lowest cost seaborne supplier of iron ore into China, based on Metalytics Resource Sector Economics (Metalytics) November 2016 review. FMG rose 11 cents (1.67%) to $6.69. Santos announced its new strategy to drive sustainable shareholder value by becoming a low-cost, reliable and high performance business. STO will target a US$1.5bn reduction in net debt to less than US$3bn by the end of 2019 through increased operating cash flow and releasing capital through non-core asset and infrastructure sales. 2016 sales volumes are expected to be at the top end of the 81-83 mmboe guidance range and upstream unit production costs below US$9/boe. 2016 production is expected to be in the top half of the 60-62 mmboe guidance range. STO lost 9 cents (-2.06%) to $4.27.
The NZX climbed 26.24 points (0.38%) to 6,916.01 while the Nikkei rose 245.05 points (1.32%) at the time of writing, to be last quoted at 18,741.74.
The Australian dollar was last quoted at 74.87 US cents.
|Equities / Fixed Interest||Close||Change||% Change|
|Currency||Close||Pts Change||% Change|
|$A vs $US||0.7487||0.0004||0.06|
|$A vs GBP||0.5921||
|$A vs EUR||0.6952||-0.0004||-0.06|
|$A vs YEN||85.06||-0.05||-0.05|
|$A vs $NZ||