Australian Dollar Trades Near 3-Month High, Stocks Flat

Marcus Jacob
28 Nov, 2012
New York City

Stocks in Sydney decreased after commodities prices fell and trading sentiment wavers in Asian markets. Australian dollar traded near 3-month high as commodities held firm after the Greek debt negotiations were resolved for now.

[R]7:30 PM Sydney – Stocks in Sydney decreased after commodities prices fell and trading sentiment wavers in Asian markets. Australian dollar traded near 3-month high as commodities held firm after the Greek debt negotiations were resolved for now.[/R]

Stocks in Sydney trading declined in the absence of local economic news and investors focused on the ongoing budget negotiations in the U.S.

The ASX 200 index slipped 9.50 to 4,447.30 and the broader All Ordinaries decreased 10.79 to 4,462.60.

Australian dollar inched higher to $1.0457.

In trading, turnover increased 1.505 billion shares worth $3.42 billion and 386 shares closed higher, 569 decreased and 363 closed unchanged.

Stock Movers

CSL added 0.6% to $50.30 after yesterday the blood maker revised its profit outlook by 20% on stronger sales and higher royalties from cervical cancer vaccine Gardasil.

BHP Billiton Limited dropped 20 cents to $34 and Rio Tinto Limited declined $1.08 to $56.70.

Lynas Corporation Limited slumped 3 cents or 4.2% to 68.5 cents, Iluka Resources decreased 27 cents to $8.23 and Fortescue Metals slipped 5 cents to $3.80.

Mirabela Nickel added 1 cent to 45 cents and Newcrest Mining declined 47 cents to $25.33. Kingsgate slipped 11 cents to $4.77 and Whitehaven Coal down 5 cents to $2.81.

Transfield Services slid 2 cents to $1.65 and engineering contractors WorleyParsons declined 25 cents to $24.52.

Monadelphous Group decreased 6 cents to $21.83.

Oil Search Limited lowered 2 cent to $7 and Santos Limited dropped 14 cents to $11.

Woodside Petroleum slumped 36 cents to $33.32 and Origin Energy Limited slipped 4 cents to $10.67.

Seven West Media lowered 3 cents to $1.62. Harvey Norman Holdings slid 2 cents to $1.81.

Woolworths jumped 24 cents to $28.99 and Kathmandu up 2 cents to $1.47.

David Jones Limited down 3 cents to $2.44 and Wesfarmers climbed 27 cents to $35.31. Breville Group slipped 2 cents to $5.85.

Billabong International Limited slid 2 cents to 91.5 cents.

Commonwealth Bank of Australia slumped 24 cents to $58.98 and Bank of Queensland decreased 5 cents to $6.85 and ANZ up 1 cent to $23.82.

Macquarie Group jumped 17 cents to $31.55 and Perpetual Limited advanced 20 cents to $30.98. National Australia Bank increased 5 cents to $23.88. Westpac gained 14 cents to $25.03.

Nufarm decreased 4 cents to close at $5.69 after the company agreed to settle a class action lawsuit for $46.6 million to avoid a trial that was scheduled to start in September 2013.

The company had guided profit between $110 million and $130 million and later halved the estimate between $55 million and $65 million in 2011. In one week, the stock fell more than 40% to $3.25.

Toll Holdings added 2 cents to $4.43, Leighton declined 48 cents to $17.07 and property developer Mirvac Group closed unchanged at $1.49.

Westfield Group added 1 cent to $10.43.

Qantas slid 3 cents to $1.31, Flight Centre declined 23 cents to $27.18 and Virgin Australia slid 1 cent to 43 cents.

QR National slipped 5 cents to $3.58 and Telstra gained 4 cents to $4.33.