5:00 PM Sydney, Australia – Australian market indexes trimmed losses and weaker commodities prices dragged resource stocks for the second day in a row. Investors awaited the release of capital expenditure data tomorrow after March quarter spending decreased 4.2%.
Australian indexes opened higher following the market advance in New York and in Europe but lost most of the gains in the session.
Iron ore prices edged lower for the second day in a row in international trading but in Shanghai edged up a fraction. International price from the Australian port closed just below $90 a ton and for a delivery to Dalian port, China traded near $105 a ton.
Energy and mining stocks declined after a weakness in crude oil prices and in iron ore and metals in international trading.
Gold gained 0.4% to $1,282 an ounce but crude oil edged lower to just above $93 a barrel.
Australian dollar closed at 92.95 U.S. cents and on the stock market turnover jumped to 727 million shares worth $4.46 billion.
ASX 200 index edged up 2.70 to 5,637.60 and the broader All Ordinaries rose 1.70 to 5,634.50.
Stocks in Review
soared 5.9% to $4.52 after the medical equipments maker reported revenue in the year ending in June climbed 6.9% to $37.1 million from $34.7 million a year ago period.
Net loss in the year widened to $80.96 million compared to $61.66 million and diluted earnings per share increased to 25.34 cents from 21.06 cents a year earlier.
Pacific Brands Limited
gained 1.7% to 58 cents after the apparels maker said revenue in the year ending in June jumped 3.9% to $1.32 billion from $1.27 billion a year ago period.
Net in the year swung to a loss of $249.3 million compared to profit of $98.7 million and diluted loss per share swung to 24.6 cents from earnings per share of 8.1 cents a year earlier.
Separately, the company agreed to sell its work wear business to conglomerate Wesfarmers Limited for a $180 million to reduce the debt.
Senex Energy Ltd
plunged 8.9% to 61 cents after the oil and gas explorer stated revenue in the year ending in June surged 24.5% to $170.9 million from $137.3 million a year ago period.
Net income in the year tumbled 37.9% to $37.9 million compared to $61 million and diluted earnings per share declined to 3.28 cents from 5.32 cents a year earlier.
Spark Infrastructure Group
slipped 0.8% to $1.95 after the electricity distributor reported total revenue in the first-half ending in June rose 1.8% to $561.3 million from $551.2 million a year ago period.
Net profit in the period climbed 17.1% to $89 million compared to $76 million a year earlier.