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Market Update

Australian Wage Index Up 0.7%; Commonwealth Bank, CSL, Carsales Net Up

Author: Marcus Jacob
Last Update: 12:30 PM ET August 14 2013

4:45 PM Sydney Australian indexes closed lower in below average trading. Wage price index increased 0.7% in the second quarter to June and rose 3% from a year ago. Carsales.com Limited lifted its annual profit outlook by 17%. CSL Limited first-half net increased 19%.

Australian stocks traded lower and the dollar declined in thin trading despite stronger than expected results from Primary Healthcare, Commonwealth Bank and Carsales.com.

Australian dollar declined to 91 U.S. cents and in stock trading turnover dropped to 783 million shares worth $5.2 billion.

The ASX 200 index slid 0.30 to close at 5,157.40 and the broader All Ordinaries fell 0.60 to 5,141.

Stocks in Review

Rio Tinto dropped 69 cents to $61.93 and BHP slid 6 cents to $36.90 and Woodside Petroleum Limited slumped 44 cent to $38.22.

David Jones Limited rose 5 cents to $2.83 and Breville Group jumped 25 cents to $7.48. Woolworths climbed 31 cents to $33.61.

Mirvac Group closed unchanged at $1.64 and Lend Lease added 1 cent to $9.17.

Westpac climbed 33 cents to $s31.51 and National Australia Bank increased 26 cents to $31.32.

Commonwealth Bank of Australia slid 1.1% to $73.73 and interest income in the year ending in June dropped to $34.74 billion from $38.26 billion a year earlier.

Net profit for the year increased to $7.68 billion compared to $7.09 billion and diluted earnings per share jumped to 464.5 cents from 432.9 cents a year ago.

Average interest earning assets in the year climbed $24 billion to $654 billion and customer deposits increased $26 billion to $405 billion a year earlier.

CSL Limited slumped 2.9% to $65.79 after the biopharmaceutical maker reported revenue in the first-half increased $5.13 billion from $4.81 billion a year ago.

Net profit for the period climbed 21% to $1.22 billion compared to $1.02 billion and basic earnings per share jumped $2.44 from $1.97 a year earlier.

Carsales.com Limited surged 6.7% to $10.72 after the online automotive classified listing site operator lifted its full-year net profit 17% to $83.5 million from a year ago.

Goodman Fielder Limited plunged 5.2% to 73 cents after the food ingredients maker said revenue in the year ending in June dropped 11.4% to $2.23 billion from $2.51 billion a year earlier.

Net in the year swung to a profit $102.5 million compared to a loss of $146.9 million in the previous corresponding period.

OZ Minerals Limited declined 4.1% to $4.21 after the copper, gold and silver miner said revenue in the first-half plummeted 38.6% to $316.2 million from $514.8 million in the first half of last year.

Net in the first-half swung to a loss $269 million compared to a profit of $119.5 million.

Primary Health Care Limited dropped 2.8% to $5.14 after the medical center operator reported revenue in the year ending in June jumped 11.4% to $1.45 billion from $1.39 billion in the previous 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