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Market Update

Australian Indexes in 3-Day Decline; CBA Net Surges 8%, Domino's Jump 20%


Author: Marcus Jacob
ticker.com
Last Update: 9:08 AM ET February 11 2015

5:30 PM Sydney – Australian market indexes declined for the third day in a row in active trading and consumer confidence rose to a one-year high. Commonwealth Bank, the largest bank in Australia said net profit surged 8% to a record high. CSL said net profit soared 7%. Domino’s Pizza soared more than 20% on results and outlook.

Australian market indexes declined for the third day in a row and consumer confidence increased to a 13-month high. Earnings were in focus after Commonwealth Bank, Stockland, CSL, Boral and Domino’s Pizza reported mixed reports.

Seasonally adjusted total number of home loans in December increased 2.7% to 53,920 followed by 0.7% decrease in November, the Australian Bureau of Statistics announced today.

The department added value of loans jumped 3.8% to $18.04 billion after easing 0.2% a month ago and investment lending soared 6% to $12.56 billion after dropping 2.2% in the previous month.

The latest survey showed consumer confidence index in January surged 8% to 100.7, highest in 13-months after 2.4% gain in December, Westpac Bank and the Melbourne Institute said today.

Australian dollar closed at 77.71 U.S. cents and in stock-trading turnover gained to 736 million shares worth $5.19 billion.

ASX 200 Index slipped 31.50 or 0.5% to 5,769.10 and broader All Ordinaries Index fell 25.70 to 5,731.70.

In commodities trading, gold dropped US$6 to US$1,238 an ounce and light crude oil declined $2.84 to US$50.02 a barrel.

Brent crude rose 22 cents to close at US$56.65 a barrel.

Australian Stock Movers

Boral Limited slipped 1.2% to $5.79 after the construction material maker said total revenues in the first-half ending in December declined 20.5% to $2.28 billion from $2.87 billion a year ago.

Net in the period swung to profit $104.5 million compared to a loss of $26.3 million and diluted earnings per share jumped to 12.8 cents from 7.5 cents in the same period a year ago.

Commonwealth Bank of Australia fell 0.8% to $91.86 after the largest Australian bank reported revenues in the first-half ending in December jumped 3% to $22.85 billion from $22.29 billion a year ago period.

Net profit in the period climbed 8% to $4.53 billion compared to $4.21 billion and diluted earnings per share increased to 272.1 cents from 253.9 cents in the same period a year ago.

The bank hiked interim-dividend by 8% from a year ago to $1.98.

CSL Limited tumbled 8.1% to $82.95 after the biopharmaceutical company said revenues in the first-half ending in December climbed 6.6% to $2.74 billion from $2.57 billion a year ago period.

Net profit in the period jumped 7.2% to $692.2 million compared to $645.7 million and diluted earnings per share rose to 145.5 cents from 132.6 cents in the same period a year ago.

The company said cash from operations surged 28% and cash on hand rose to US$10.6 billion from a year ago.

Domino''s Pizza Enterprises Limited surged 21.2% to $33 after the pizza chain reported revenues in the first-half ending in December soared 29.5% to $343.6 million from $265.4 million a year ago period. Same store sales in the period climbed 8.6%.

Net profit in the period surged 44.2% to $29.1 million compared to $20.2 million and diluted earnings per share rose to 33.8 cents from 24.7 cents in the same period a year ago. The pizza chain said revenues from Japan climbed 57.6% to $154.3 million.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc