Weekly Rise of 4.3% in Australian Index, Breville Group Up

Marcus Jacob
31 Jul, 2012
New York City

Australian stocks extended gains for the fourth day in a row and the benchmark ASX 200 index added 4.3% in the month. The dollar edged higher. Breville Group gained after it estimated full-year earnings growth of 40%.

[R]7:30 PM Sydney – Australian stocks extended gains for the fourth day in a row and the benchmark ASX 200 index added 4.3% in the month. The dollar edged higher. Breville Group gained after it estimated full-year earnings growth of 40%.[/R]

Australian stocks traded higher and extended rally to the fourth day and the benchmark ASX 200 index closed up 4.3%. The index increased for the sixth month in a row and July monthly gain was the largest.

The ASX 200 index gained 23.50 to 4,269.20 and All Ordinaries index increased 22.47 to 4,289.38. The Australian dollar gained to close higher at US$1.051.

For the month end The ASX 200 index increased 4.3%

In commodities trading, New York oil futures traded near US$90 a barrel and gold in the spot market fetched US$1,618.35.

In trading, turnover decreased to 1.66 billion shares to $4.2 billion and 500 stocks gained, 419 declined and 343 were unchanged.

Stock Movers

Breville Group increased 8 cents to close at a new high of $4.78 after the kitchen appliance maker said full-year earnings are expected to increase 40%.

BHP Billiton Limited gained 30 cents to $31.93 and, Rio Tinto Limited advanced 90 cents to $53.20 and Fortescue Metals Group added 4 cents to $4.13.

Sundance Resource declined 2.9% ahead of a trading halt as the company awaits a decision from Chinese regulators for its purchase by Hanlong.

Iluka Resources rose 1 cent to $9.51, Lynas Corporation Limited closed up 6 cents to 80.5 cents, Newcrest Mining increased 23 cents to $23.50 and Kingsgate slipped 9 cents to $4.06. Whitehaven Coal added 3 cents to $3.67.

Northern Iron rose 2 cents to $1.17 after the mine owner in Norway received a takeover proposal from Swiss based Prominvest AG for $525 million.

Oil Search Limited gained 8 cents to $7, Santos Limited increased 10 cents to $10.75 and Woodside Petroleum advanced 54 cents to $33.75. Sundance Energy fell 1.5 cents to 42 cents.

DUET Group increased 13 cents or 7% to $2.08 after the company said it has internalized its management that will eliminate the fees to AMP and Macquarie.

Ten Network closed down 2 cents to 47.5 cents and Fairfax Media fell 1.5 cents to 52.5 cents.

Metcash gained 6 cents to $3.41, Harvey Norman Holdings rose 1 cent to $2 and Woolworths slumped 16 cents to $28.57. Kathmandu raised 3 cents to $1.20.

David Jones Limited up 1 cent to $2.44 and Wesfarmers added 4 cents to $32.59. Billabong International Limited fell 1 cent to $1.36.

Commonwealth Bank of Australia advanced 33 cents to $57.53 and Bank of Queensland increased 15 cents to $7.65. ANZ gained 14 cents to $23.54. National Australia Bank closed up 37 cents at $24.98 and Westpac Banking Corporation slid 6 cents to $23.20.

Macquarie Group added 9 cents to $24.98 and Perpetual Limited rose 2 cents to $23.91.

Leighton increased 16 cents to $17.11, Stockland up 2 cents to $3.35 and Toll Holdings fell 3 cents to $4.02.

Qantas increased 4 cents to $1.14 cents, Flight Centre slipped 7 cents to $21.23 and Virgin Australia fell 1 cent to 40.5 cents.

QR National closed unchanged to $3.20.