Afternoon (PM) Market Report

Details

Published on Friday, 23 September 2016 07:00

The local market opened higher today on the back of gains on Wall Street overnight.

Friday, 23rd September 2016

The positivity continued throughout the day with the ASX finishing over 5400, to finish with a 2.5 per cent weekly gain. All sectors performed positively with healthcare coming out on top. The Australian dollar gained against most major currencies.

The All Ordinaries rose 52.30 points (0.96%) to 5,518.60 while the S&P/ASX 200 rose 56.80 points (1.06%) to 5,431.30.

Caltex Australia advised its realised lagged Caltex Refiner Margin (CRM), in respect of CRM sales from production for the month of August 2016. The August 2016 unlagged CRM was US$8.77/bbl. This is below the prior month (July 2016: US$9.37/bbl) and prior year monthly comparative (US$18.29/bbl). Regionally, the unlagged Caltex Singapore Weighted Average Margin was US$8.42/bbl, below the prior month (July 2016: US$8.49/bbl) and prior year (August 2015: US$15.35/bbl). Sales from production in August 2016 of 580ML were in line with the prior month (July 2016: 579ML), but above the prior year comparative (August 2015: 503ML). For the eight months from 1 January 2016 to 31 August 2016, the average realised CRM was US$9.84/bbl (2015: US$16.73/bbl) with CRM sales from production totalling 4,084 ML (2015: 3,353 ML). CTX added 60 cents (1.81%) to $33.80. Charter Hall Group announced that it has been advised that the Gandel Group has completed the sale of its interest in the Company. The sale was of 79.16m securities (representing 19.18% of total Company securities on issue), at a price of $5.00 per security. Trading in the Company securities will recommence at the opening of the market on 23 September 2016. CHC lost 32 cents (-5.95%) to $5.06.

The NZX 50 lost 14.97 points (-0.20%) to 7,296.74 while the Nikkei dropped 53.60 points (-0.32%) to close at 16,754.02.

The Australian dollar was last quoted at 76.48 US cents.