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Market Update

Australian Mortgage Loans Rise 5.5%; Ansell, Carsales and JB Hi-Fi in Focus


Author: Marcus Jacob
ticker.com
Last Update: 12:18 PM ET August 10 2015

5:30 PM Sydney, Australia Australian market indexes advanced after a week of volatile trading and commodities prices rebounded. Ansell Ltd annual sales rose 3.5% and net soared more than four-fold. JB Hi-Fi soared 10% and declared annual dividend of 31 cents. Carsales.com agreed to acquire Mexico-based Soloautos.

Australian market indexes advanced after a week of volatile trading and banks led the gainers.

Australian dollar closed at 73.97 U.S. cents and in stock trading turnover slipped to 617 million shares worth $4.7 billion.

At close, the ASX 200 Index gained 34.40 or 0.6% to 5,509.20 and the broader All Ordinaries Index increased 32.60 to 5,504.90.

In commodities trading, gold jumped US$8 to US$1,097 an ounce and Brent crude rose 0.25 cents to close at US$48.86 a barrel.

Australian Stock Movers

Ansell Limited tumbled 15.8% to $20.84 after the rubber gloves and condom maker said sales in the year ending in June jumped 3.5% to $1.65 billion from $1.59 billion in a year ago period.

Net profit in the year surged 349% to $188 million compared to $42 million and earnings per share climbed to 122.5 cents from 29.3 cents in the same period a year ago.

Bendigo and Adelaide Bank Ltd dropped 2.6% to $12.63 after the retail bank said total revenues in the year ending in June jumped 7.6% to $1.55 billion form $1.44 billion in a year ago period.

Net profit in the year climbed 13.9% to $423.9 million compared to $372.3 million and diluted earnings per share increased to 87.3 cents from 83.6 cents in the same period a year ago.

JB Hi-Fi Limited soared 10.6% to $21.69 after the home and electronics goods retailer reported total sales in the year climbed 4.8% to $3.65 billion from $3.48 billion in a year ago period.

Net profit in the year jumped 6.3% to $136.5 million compared to $128.4 million and diluted earnings per share advanced to 136.46 cents from 126.89 cents in the same period a year ago.

National Australia Bank Ltd gained 1.5% to $33.32 after the financial services provider forecasted revenues in the third-quarter ending in September to jump 4% and net profit to climb 9% to $1.75 billion after the charges for bad and doubtful-debts in its domestic market were drop by 15% to $193 million.

NAB has estimated the U.K provisions of 420 million for payment protection insurance but may take additional provision of about 60 million to 80 million when declaring the full-year result.

Nine Entertainment Co Holdings Ltd slumped 2.8% to $1.40 after the media and entertainment company secured exclusive Free-to-air rights for premium National Rugby League rights for the 2018 to 2022 seasons worth about $185 million a year.

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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