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Market close: ASX rises despite weak Wall St lead

Tuesday, 23 Aug 2016 16:27:33 | Justine Parker

There were gains for 123 of the top 200 companies, falls for 66. (AAP)

It was a day of healthy gains on the share market, despite a flat lead from Wall Street and some mixed earnings reports.

Markets at 5:20pm (AEST)

  • ASX 200 +0.7pc to 5,554, All Ords +0.6pc to 5,647
  • Major gains: Bellamy's +5.3pc to $14.94, Whitehaven Coal +4.3pc to $1.95, BlueScope Steel +3.9pc to $9.06
  • Major losses: Monadelphous -17.8pc to $8.99, WorleyParsons -5.7pc to $8.68, Syrah Resources -4.9pc to $4.24
  • Futures: Euro Stoxx 50 +33pts to 2,989, FTSE +59pts to 6,872, S&P 500 +5pts to 2,186
  • AUD: 76.5 US cents, 57.9 British pence, 76.6 Japanese yen, 67.4 euro cents, $NZ1.043

Healthcare stocks fared the best, led by IVF clinic operator Virtus Health after it announced a near 12 per cent rise in full-year profit.

It said the demographic factors driving demand for assisted reproductive services remain favourable in all markets.

Shares finished 2.9 per cent higher at $8.20.

Banks were also among the best performers - the big four lenders all rose by at least 1 per cent, with Westpac up the most, gaining 1.5 per cent to $30.41.

Energy stocks were the only sector to lose ground, as oil prices fell for another day.

Papua New Guinea-focused Oil Search has reported a near 90 per cent slump in half-year profit, despite its second highest half-year output result on record.

The company made a net profit of nearly $34 million and is blaming weaker oil and gas prices for the result.

Oil Search shares closed 0.8 per cent lower at $7.38.

Mining services firms were punished for their latest results - Monadelphous plunged after annual net profit fell more than one-third to $67 million.

Online retailer Kogan said profits and revenues have beaten forecasts, a month after its stock market debut.

Kogan has reported net profit for the 2016 financial year came in at more than $809,000.

It said the result was boosted by stronger-than-expected performance from the Dick Smith website, which it bought after the collapse of the retail chain.

Its shares finished unchanged at $1.67, below its listing price of $1.80.

The Australian dollar has recovered yesterday's losses, but is in a holding pattern before a meeting of global central bankers late this week.

Investors are awaiting signals on when the US Federal Reserve will next raise interest rates and the bank's chair Janet Yellen is speaking on Friday.

Checking commodities, and oil prices continue to slide after big overnight falls; Brent crude was 0.6 per cent lower at $US48.86 a barrel.

Spot gold was steady around $US1,339 an ounce.

AustraliaPlus


 

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