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Afternoon (PM) Market Report

The market opened higher today on the back of gains on Wall Street overnight. The positivity continued throughout the day buoyed by the miners and ANZ to close at a five-month high


Tuesday, 17th October, 2017

There were mixed results from the sectors; materials gained most significantly while utilities were the only sector in the red. The Australian dollar gained against most major currencies.

The All Ordinaries added 40.90 points (0.69%) to 5,958.10 while the S&P/ASX 200 rose 42.80 points (0.73%) to 5,889.60.

Cochlear provided its chairman's address at its AGM. The chairman reported that there was a net profit of $224m, an increase of 18% on the FY2016 result. Cochlear launched number of products which include the Kanso Sound Processor, the company's first off-the-ear sound processor, the Nucleus Profile Slim Modiolar electrode, the world's slimmest electrode, as well as the Baha 5 range of sound processors.. COH added $1.65 (0.98%) to $169.42. Australia & New Zealand Banking Group announced the sale of its OnePath pensions and investments (OnePath P&I) and aligned dealer groups (ADG) business to IOOF Holdings (IOOF) for $975m. ANZ will also enter into a 20-year strategic alliance to make available IOOF superannuation and investment products to ANZ customers.. ANZ gained 18 cents (0.60%) to $30.34. Challenger reported an increase in assets under management, driven by results in both Life and Funds Management in the September quarter. Challenger's total group assets under management was $73.5b at 30 September 2017, up 5% in the quarter.. CGF lifted 67 cents (5.35%) to $13.19.

The NZX 50 added 21.32 points (0.26%) to 8,112.05 while the Nikkei rose 75.83 points (0.36%) at the time of writing, to be last quoted at 21,331.62.

The Australian dollar was last quoted at 78.47 US cents

Equities / Fixed Interest Close Change % Change 
All Ordinaries 5958 41 0.69
S&P/ASX 200 5890 43 0.73
Currency Close Pts Change % Change 
$A vs $US 0.7847 0.0003 0.04
$A vs GBP 0.5920

0.0002

0.04
$A vs EUR 0.6666 0.0016 0.25
$A vs YEN 88.01 0.01 0.02
$A vs $NZ

1.0945

0.0029

0.27