Afternoon (PM) Market Report

Details

Published on Wednesday, 14 September 2016 07:00

The local market opened lower today on the back of losses on Wall Street overnight.

Wednesday, 14th September 2016

However, the negativity was short-lived as stocks broke through the flat-line for a final time shortly before midday and closed higher to break the streak of four consecutive session losses, buoyed by the big banks. There were mixed results from the sectors; consumer staples gained most significantly while energy was the worst performer for this session. The Australian dollar gained against most major currencies.

The All Ordinaries rose 16.60 points (0.31%) to 5,326.60 while the S&P/ASX 200 rose 19.90 points (0.38%) to 5,227.70.

G8 Education announced a fully franked dividend of 6 cents per share for the quarter ending 30 September 2016, with a record date of 23 September 2016 and a payment date of 7 October 2016. The company's dividend reinvestment plan will not apply to this dividend. GEM remained unchanged at $3.03. Southern Cross Media Group announced that it has entered into a new six year agreement with the AFL for the radio broadcast of AFL games and other AFL events on the Triple M Network and affiliated regional stations. The new agreement commences on 1 November 2016. AFL will be broadcast on 40 stations with Triple M Footy calling every AFL game, every week, allowing more fans than ever before access to AFL on radio. Triple M will have FM commercial exclusivity in Melbourne, Adelaide and Perth and in addition to broadcast and simulcasting on digital radio, for the first time the Company will be streaming the games via each station's website. The Company will deliver AFL to all States with calls of all Lions games into Brisbane, all Suns games into the Gold Coast. SXL added 4 cents (3.00%) to $1.54.

The NZX 50 lost 38.51 points (-0.53%) to 7,210.72 while the Nikkei dropped 114.80 points (-0.69%) to close at 16,614.24.

The Australian dollar was last quoted at 74.93 US cents.