Afternoon (PM) Market Report

Details

Published on Monday, 22 August 2016 07:00

The Australian market finished lower after a wobbly trading session, as the Federal Reserve signalled the possibility of interest rates hike next month.

Monday, 22nd August 2016

Share price movements were heavily influenced by earnings announcements; GWA Group soared 18 per cent, while APN Outdoor plunged more than 35 per cent. There were mixed results from the sectors; consumer staples posted the biggest gains while energy and materials lagged behind the rest. The Australian dollar depreciated against the green back and had mixed results against other major currencies.

The All Ordinaries lost 13.10 points (-0.23%) to 5,612.30 while the S&P/ASX 200 fell 11.60 points (-0.21%) to 5,515.10.

Auckland International Airport provided monthly traffic update July 2016. International passengers increased by 13.3% to 791,077 in July 2016, compared with July 2015. The 92,000 increase was driven by the Americas (+31.2%) and Asia/Middle East (+26.4%), with the addition of four new services to each region in July 2016. Solid performances were also achieved by the Pacific (+8.7%) and Tasman (+4.5%) regions, both boosted by school holiday traffic and new airlines serving Rarotonga, the Gold Coast and Cairns. International visitor arrivals increased by 16% to 171,406 in July 2016, mainly due to a 25% increase in holiday arrivals. Seat capacity additions across all key regions have helped drive this growth, accommodating stronger demand during the traditionally lower winter season. AIA dropped 7 cents (-1.03%) to $6.72. BlueScope Steel announced a $353.8m reported NPAT for FY2016 - a $217.5m increase on FY2015. Underlying NPAT of $293.1m was 119% higher than FY2015. Second half underlying NPAT was $174.1m. Net debt at 30 June 2016 was $778.0m, reduced by $595.4m from 31 December 2015 through strong operating cash flow. Leverage at 30 June 2016 of 0.8 times EBITDA was 50% less than the position at 31 December 2015 of 1.6 times EBITDA. The Company's intention is to further reduce leverage to be sustainably below 1.0 times net debt to EBITDA. The Board has approved payment of a fully franked full year dividend of 3.0 cps, in line with the Company's FY2015 final dividend. BSL added 47 cents (5.70%) to $8.72.

SEEK advised that the Company's FY16 Full Year Results announcement lodged on 22 August 2016 included an incorrect record date of 15 September 2016 for the FY16 final dividend. The correct record date is 16 September 2016. For clarification, the Company's FY16 final dividend dates are Ex date is 15 September 2016 and Payment date is 14 October 2016. SEK fell 17 cents (-1.03%) to $16.36.

The NZX rose 56.91 points (0.77%) to 7,462.16 while the Nikkei climbed 52.37 points (0.32%) to close at 16,598.19.

The Australian dollar was last quoted at 76.00 US cents.