Australian stocks closed marginally lower.
Here’s the scoreboard:
- S&P ASX 200: 5,258.30 -7.84 -0.15%
- All Ordinaries: 5,304.70 -7.92 -0.15%
- AUD/USD: 0.7308 -0.0013 -0.18%
Seven out of ten sectors closed lower.
The banks were stronger with Westpac up 0.96% to 33.10. But the miners lost value with Fortescue down 1.2% to $1.96. BHP was steady at $18.75.
Retailers were mixed with Myer up 5.3% to $1.18, JB Hi-Fi down 5% to $18.00 and Harvey Norman dropping 2% to $4.06.
Dick Smith made up more lost ground, after Monday’s big fall, rising another 18.5% to 41 cents but still well below Friday’s 69 cents.
Metcash, operator of IGA supermarkets, dropped 7% to $1.56, losing some of the gains made since Monday when the company announced its half year results. It’s still ahead of Friday’s $1.30.
Shares in engineering services group Cardno, which came out of a trading halt after raising $50 million in an entitlement offer, dropped hard. It closed down more than 43% to $1.70.
The top stories Wednesday:
2. A bad stain. Spotless, the Australian cleaning, catering and laundry company, today delivered a profit warning. Its shares tanked, falling almost 40% to $1.325.
3. Sizzler reborn. The popular family restaurants of the 1990s are doing well for Collins Foods in Asia. The company’s shares were up 13% to $4.40 on its half year results.
4. Energy leak. The retail component of a $2.5 billion capital raising to strengthen the balance sheet of energy company Santos came in short.
5. More games. Animoca Brands, the Hong Kong-based mobile game maker that reverse listed on the ASX last year, has raised $4.69 million by selling new shares. It closed down 5.7% to $0.165.
6. Best forget 2015. These are the 12 Australian stocks Credit Suisse likes for next year.
7. Marcus Blackmore, the CEO of Blackmores, talks Bega, China and the lucrative baby formula business.