Australia Market eases 0.1%

The Australian share market finished session marginally lower on Friday, 04 February 2022, after recouped early losses, thanks to better than expected retail sales data and government announcement to reopen borders to tourists on February 21.

At closing bell, the benchmark S&P/ASX200 fell 9.36 points, or 0.13%, to 7,110.85. The broader All Ordinaries index sank 4.71 points, or 0.06%, to 7,414.20.

GrainCorp (GNC) finished 12.3% higher to $8.10 after saying it expects annual EBITDA between $480m-$540m and underlying profit of $235m -$280m

James Hardie Industries (JHX) climbed 2% to $48.60 after it posted a 26% jump in net revenues, a 147% increase in profits and a 4% climb in net tangible assets per share. JHX also expects annual adjusted net income to be between US$620m-US$630m, around a 6% increase from its previous guidance.

 

Magellan Financial Group (MFG) tumbled 11.2% to $16.43 after the fund manager declared a $2bn (2%) decrease in funds-under-management (FUM), $1.5bn of which was retail FUM.

ECONOMIC NEWS: Australia Retail Sales Down 4.4% On Month In December- Australia value of retail sales was down a seasonally adjusted 4.4% on month in December, the Australian Bureau of Statistics said on Monday, coming in at A$31.926 billion. That follows the 7.3% spike in November. On a yearly basis, retail sales were up 4.8% in December. For the fourth quarter of 2021, retail sales were up 8.2% on quarter and 3.6% on year at A$92.327 billion.

CURRENCY NEWS: The Australian dollar was at $0.7092, off levels above $0.714 seen last week.

Powered by Capital Market - Live News