Australian Stock Market Report – Midday 4/17/14
By Steven Daghlian, CommSec Market Analyst | April 17, 2014 2:27 PM EST
The Australian sharemarket is rising for the third straight day, driven by firmer global markets overnight. The All Ordinaries Index (XAO) is still above 5400pts this shortened trading week.
Asian Shares Bounce from 4-week low (Reuters).
Quarterly production reports from oil and gas producers Woodside Petroleum (WPL) and Santos (STO) have both been issued this morning. WPL shares are up 0.8 per cent as Australia's second largest oil and gas producer recorded a 5 per cent rise in production over the year. Revenue has surged by 16 per cent and WPL has maintained estimates for FY14.
Santos (STO) is flat despite reporting a 7 per cent slump in production between January and March. Weaker gas production and a fall in prices have pushed output and revenue lower. STO has maintained its FY14 guidance.
This has been a big week for production reports, with BHP Billiton (BHP), Rio Tinto (RIO), Fortescue Metals (FMG) and OZ Minerals (OZL) all issuing their quarterly numbers. BHP is up 1 per cent this week, RIO is down 0.89 per cent, FMG has improved by 0.95 per cent while OZL is 1.79 per cent firmer.
The big four banks are among the biggest contributors to the gains, adding almost 9pts to the All Ordinaries Index.
Newly listed firm Japara Healthcare (JHC) is up 28 per cent on its debut. JP Morgan is the largest shareholder of the firm, holding 13.42 per cent of JHC. Institutional investors hold a large chunk of the firm.
Lighting products retailer, Beacon Lighting (BLX) is flat after an extremely strong start to trade on Tuesday. BLX shares are up more than 60 per cent this week.
On the economic front, motor vehicle sales, detailed labour force data and an update on imports over March are out today.
The Australian dollar currently buys US93.7c; only modestly weaker than this time last week.
At lunch, 825.5 million shares have changed hands worth $2.04 billion. 490 stocks are higher, 316 are in the red and 287 are unchanged.
[Kick off your trading day with our newsletter]
More from IBT Markets:
Follow us on Facebook
Follow us on Twitter
Subscribe to get this delivered to your inbox daily
Join the Conversation
- Walmart Early Price Matching Special Event On Nov. 21, 2014 Matches Its Competitors' Black Friday 2014 Prices And Includes Exclusive Deals For Samsung LED HDTVs And iPad Air 2 [WATCH VIDEO]
- US Plane Flying Over Russian Skies Spotted; Vladimir Putin Ready For 'Practical Cooperation' With US
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- Nexus 6 Release Date And Price Under AT&T, T-Mobile And Sprint Listed
- More Bad News for Android 5.0 Lollipop As Problems Come In for Nexus and Other Devices