Australian Movers: Aquila, Carsales.com, NAB, Sing Tel, Telstra

Marcus Jacob
14 Aug, 2012
New York City

Australian indexes closed higher and the dollar edged lower after the latest batch of earnings lifted market sentiment. International worries linked to China, Japan and the euro zone restrained market advance.

[R]6:00 PM Sydney – Australian indexes closed higher and the dollar edged lower after the latest batch of earnings lifted market sentiment. International worries linked to China, Japan and the euro zone restrained market advance.[/R]

Australian shares closed higher and the benchmark ASX 200 index opened lower but gained steadily in the first hour of trading and stayed for the rest of the session in the positive zone.

The ASX 200 index increased 8.90 or 0.2% to 4,292.20 and the broader All Ordinaries added 7.90 or 0.2% to 4,317.4.

The Australian dollar declined to $1.049 and edged lower against the euro, pound and the Japanese yen.

Stocks in Review

Telstra gained 10 cents to $3.83 ahead of the company going ex-dividend on Friday.

Singapore Telecom, the parent of mobile telephony services provider Optus, decreased 1cent to $2.55 after it reported earnings declined to S$1.2 billion or $915 million and growth at Optus unit has come to a halt in Australia.

National Australia Bank declined 1.4% to $24.70 after it reported flat third quarter net income fell below expectations of several analysts estimate on higher than expected funding costs and weak results in its UK operations.

Goodman Fielder soared 8% to 53 cents after the food products maker reported smaller annual net loss.

Aquila Resources dropped 8% to $2.23 on a speculation that the company is likely to halt its $6 billion Pilbara iron ore project on the recent price weakness for the material.

BHP Billiton increased 6 cents to $32.95 and Rio Tinto added 8 cents to $56.52.

BlueScope Steel extended gains for the second day by 13% to 39.5 cents and led the most active list in Sydney trading after it reported a joint venture with Nippon Steel for its coated steel products.

Ansell gained 3% after the maker of gloves and rubber products reported quarterly results that met expectations.

Carsales.com soared 8% to $6.90 after the online listing site reported 23% increase in earnings and declared a special dividend.