The Australian market edged slightly higher, defying Wall Street, but didn’t quite reach the 6000 point level on the ASX 200 index.
Here’s the scoreboard:
- S&P ASX 200: 5,969.10 +12.96 (+0.22%)
- All Ordinaries: 5,934.50 +13.47 (+0.23%)
- AUD/USD: 0.7859 -0.0021 (-0.27%)
Wall Street closed weaker overnight with the S&P 500 losing 0.2%.
On the local market, nine out of ten sectors were higher but the ASX index was still 30.9 points below the 6000 level, a high not seen since 2008.
Flat or weaker financial stocks were offset by stronger resources companies. BHP closed up 0.71%, but Rio Tinto lost 1.44% to $57.37. The NAB closed down 0.59% to $38.95 and the ANZ was up 0.25% to $36.89.
The top stories on Tuesday:
1. Adventure clothing retailer Kathmandu posted a half year loss of $NZ1.8 million after a promotional campaign failed to produce sales over Christmas and January. Its shares closed down more than 12% to $1.37.
2. Profit expectations upgraded. TPG Telecom, the group with a $1.4 billion takeover bid for iiNet, posted an 18% rise in first half net profit to $106.7 million. Its shares closed up 3.5% to $9.14.
3. Up again but a long way to go. Australian consumer confidence is stuck in the doldrums.
4. Falling oil prices. Woodside Petroleum is cutting another 300 jobs. Its shares closed down marginally weaker at $35.41.