The Australian market closed down on the last session of the week, with weaker energy stocks, a flat Wall Street and a flood of profit results.
Here’s the scoreboard:
- S&P ASX 200: 5,881.50 -22.73 (-0.38%)
- All Ordinaries: 5,845.60 -24.23 (-0.41%)
- AUD/USD: 0.7806 +0.0013 (+0.17%)
Wall St was flat again overnight with the S&P 500 closing down just 0.1%.
Locally, most sectors were lower, led by energy, which was down 1.59%. Woodside Petroleum was down 1.13% to $35.72.
The major banks were all weaker, led by the Commonwealth down 1% to 90.21.
The top stories on Friday:
2. On track for first dividend. Medibank Private, Australia’s newest major listed company, posted a 10.8% rise in profit to $151.2 million for the half year. Its shares closed down 3.5% to $2.47.
3. Oil price fallout. Energy producer Santos is cutting capital spending and slashing costs after posting a loss of $935 million for the full year as falling oil prices bite into the business. Its shares closed down 2.5% to $8.03 in an already weaker energy sector.
4. Aged care. Regis Healthcare went a tear after it upped its forecast for full year profits by between 5% and 10%. Its shares closed up 12.7% to $5.13.
5. Cyclone fallout. Suncorp has a $200 million maximum exposure to payouts from any damage caused by the giant storm. Its shares closed down 1.15% to $13.77.