5:30 PM Sydney, Australia – Australian market indexes gained for the third day in a row in the back of resurgent international markets. Australian dollar weakened to 71 U.S. cents. Billabong, the sportswear retailer swung to annual net profit. Ausdrill annual loss widened.
Australian market indexes rebounded on the back of higher closings in New York and in Europe in overnight trading.
Markets in Shanghai indexes gyrated wildly for the eighth day in a row and dropped in the negative but managed to surge in the final thirty minutes to soar 5% at close.
Australian dollar closed at 71.03 U.S. cents and in stock trading turnover slipped to 923 million shares worth $6.4 billion.
At close, the ASX 200 Index jumped 60.50 or 1.2% to 5,233.30 and the broader All Ordinaries Index gained 63.70 to 5,242.60.
In commodities trading, gold plunged US$26 to US$1,153 an ounce and Brent crude jumped US$1.20 cents to close at US$44.34 a barrel.
Australian Stock Movers
soared 7.1% to 22.5 cents after the diversified mining services reported sales revenues in the year ending in June dropped 7.3% from a year ago to $767.6 million from $827.9 million.
Net loss in the year widened to $175.6 million compared to $42.6 million and diluted loss per share increased to 56.24 cents from 13.64 cents in the same period a year ago.
The diversified mining services company take a loss to impairment charges of about $202.8 million.
Billabong International Limited
gained 2.4% to 64.5 cents after the surf, skate and sports apparel retailer said revenues in the year ending in June increased 2.9% from a year ago to $1.06 billion from $1.03 billion.
Net in the year swung to profit $4.15 million compared to a loss of $233.7 million and diluted earnings per share swung to 0.5 cents form a diluted loss per share of 28.6 cents in the same period a year ago.
Nine Entertainment Co Holdings Limited
jumped 3.5% to $1.50 after the media and entertainment reported revenues in the year ending in June rose 4.5% from a year ago to $1.38 billion from $1.32 billion.
Net in the year swung to a loss of $593.3 million compared to profit of $55.3 million and diluted loss per share swung to a 64 cents from a diluted earnings per share of 3 cents in the same period a year ago.
The media company write-downs non-cash charges of about $732 million on licence and goodwill values.
Northern Star Resources Ltd
advanced 2.1% to $1.95 after the gold producer said revenues in the year ending in June surged 184.7% from a year ago to $845.7 million from $297 million.
Net profit in the year surged 327% to $94.8 million compared to $22.2 million and diluted earnings per share jumped to 15.5 cents from 4.5 cents in the same period a year ago.
Ramsay Health Care Limited
soared 5.5% to $63.68 after the private hospitals operator reported revenues in the year ending in June jumped 49.5% to $7.37 billion from a year ago to $4.93 billion.
Net profit in the year surge 27% to $385.5 million compared to $303.8 million and diluted earnings per share increased to 183.5 cents form 143 cents in the same period a year ago.