Telstra, CBA Trade Ex-Dividend in Sydney, Bendigo Net Drops 43%

Marcus Jacob
20 Aug, 2012
New York City

Australian stocks closed lower and investors focused on defensive stocks ahead of meetings of European leaders later in the week. Telstra and CBA traded ex-dividend. Bendigo and Adelaide Bank said annual net dropped 43%.

[R]8:30 PM Sydney – Australian stocks closed lower and investors focused on defensive stocks ahead of meetings of European leaders later in the week. Telstra and CBA traded ex-dividend. Bendigo and Adelaide Bank said annual net dropped 43%.[/R]

Australian stocks opened sharply lower and gradually recover by mid-day only to lose steam in the final hours of trading.

Telstra and CBA traded ex-dividing and investors turned focus to defensive stocks Ramsay, Cochlear and the blood products maker CSL.

European leaders are scheduled to ramp up meeting this week after two weeks of vacation and decide the fate of terms of Greek bailout. Ministers of Greece and Germany are scheduled to meet in Berlin later in the day ahead of the meeting between the leaders of two nation on Friday.

The ASX 200 index edged down 5.80 to 4,364.30 and the broader All Ordinaries slid 1.91 to 4,391.91.

The Australian dollar inched up to US$1.044 and gained a fraction against the euro and the yen.

Stock Movers

BHP Billiton Limited increased 3 cents to $33.03 and, Rio Tinto Limited declined 85 cents to $54.50 and Fortescue Metals Group slumped 9 cents to $4.11.

Iluka Resources dropped 40 cents $10.47 and Lynas Corporation Limited lowered 5 cent to 70 cents.

Newcrest Mining slipped 17 cents to $25.03 and Kingsgate up 2 cents to $4.40. Whitehaven Coal plunged 19 cents or 5.3% to $3.40.

BlueScope Steel declined 0.5 cent to 39.5 cents after the steel maker posted another annual loss of more than $1 billion and estimated loss in the current year.

MacMohan Holdings added 3.5 cents to 66 cents after the contract miner and builder reported full-year net income increased 45% to $56.1 million.

Oil Search Limited slid 2 cents to $7.19 and Santos Limited increased 7 cents to $11.85 and Woodside Petroleum climbed 21 cents to $35.12. Sundance Energy soared 6.5 cents or 12.9% to 57 cents.

Ten Network decreased 0.5 cents to 44.5 cents and Fairfax Media closed unchanged at 56 cents.

Consolidated Media Holdings closed down 1 cent at $3.44 after competition authority approved the offer from News Corporation.

Metcash added 4 cents to $3.53, Harvey Norman Holdings slid 1 cent at $2.05 and Woolworths gained 13 cents to $29.03. Kathmandu grew 1 cent $1.37.

Commonwealth Bank of Australia decreased $1.55 to $55.80 after it traded ex-dividend of $1.97.

Bank of Queensland closed unchanged at $7.79. ANZ increased 17 cents to $24.78. National Australia Bank advanced 28 cents at $24.91 and Westpac Banking Corporation climbed 47 cents to $24.97.
Bendigo and Adelaide Bank said full-year profit declined 43% to $195 million and the bank took a charge of $95 million to write down margin lending division and wealth management in the first half.

Macquarie Group increased 22 cents to $26.76 and Perpetual Limited plummeted 55 cents to $27.15.

David Jones Limited up 1 cent to $2.56 and Wesfarmers gained 4 cents to $34.71. Billabong International Limited closed unchanged at $1.38. Breville Group increased 6 cent to $5.17. Harvey Norman slid 1 cent to $2.05.

Toll Holdings slipped 4 cents to $4.44 and Leighton slumped 7 cents to $17.63.

Brambles extended gains for the second day by 6 cents to $6.61 after annual profit increased 21%.

Qantas up 1 cent to $1.17 and Flight Centre climbed 8 cents to $23.40 and Virgin Australia slid 0.5 cents 45.5 cents.

QR National increased 5 cents to $3.40.

Telstra closed down 20 cents to $3.70 after it paid a final dividend of 14 cents to holders of stock as of Friday close.