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Market Update

Australian Stocks Rise in Active Trading, Domino's Pizza Store Sales Surge


Author: Marcus Jacob
ticker.com
Last Update: 11:10 AM ET August 12 2014

5:00 PM Sydney, Australia – Australian market indexes advanced for the second day in a row on easing geopolitical tensions and firm iron ore prices in international markets. Stock trading turnover also reached near the high in the year-so-far. Domino’s Pizza soared on same store sales surge.

Australian stocks traded higher for the second day in a row after plunging for six days and matched the losses in a period eight months ago.

Easing geopolitical tensions and firm prices of iron ore in Shanghai helped market sentiment. Also, the sustained home price increase in the June quarter also supported market advance.

The Australia Bureau of Statistics said house prices in the June quarter jumped 1.8% compared to 1.5% increase in the quarter ending in March.

Australian dollar closed at 92.54 U.S. cents and stock trading turnover increased to 638 million shares worth $4.5 billion.

ASX 200 index climbed 73.30 or 1.3% to 5,530.30 and the broader All Ordinaries jumped 73.70 to 5,523.10.

Stocks in Review

Domino''s Pizza Enterprises Ltd surged 13.5% to $23.39 after the pizza delivery company reported underlying revenue in the year ending in June surged 99.6% to $588.7 million from $294.9 million a year ago. Same store sales for the year in Australia and New Zealand network climbed 5.8% and in July soared 6.3%.

Net income in the year jumped 39.1% to $42.3 million compared to $30.4 million and earnings per share increased to 50.5 cents from 41.5 cents a year earlier.

The pizza maker said expansion in Japan is profitable as same store sales in Japan jumped 10.7%.

The company will pay final fully franked dividend of 19 cents per share in addition to the interim dividend of 17.7 cents per share.

Slater & Gordon Limited climbed 6.3% to $5.24 after the law firm said revenue in the year ending in June soared 40.4% to $418.5 million from $298 million a year ago period.

Net profit in the year surged 47.2% to $61.1 million compared to $41.5 million and diluted earnings per share jumped to 27.9% to 29.8 cents from 23.3 cents a year earlier.

Wotif.com Holdings Limited gained 0.3% to $3.32 after the online travel booking service provider stated revenue in the year ending in June jumped 2.1% to $149.6 million from $146.6 million a year ago period.

Net profit in the year declined 15.4% to $43.2 million compared to $51 million and earnings per share dropped to 20.40 cents from 24.10 cents a year earlier.

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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