Market Updates
Weekly Advance of 3.5% in Indexes in Australia
Marcus Jacob
26 Apr, 2013
New York City
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Australian markets traded flat in the afternoon but resource stocks led the gainers. In shortened trading week, the ASX 200 index advanced 3.5% after miners rallied and banks traded near 5-year highs.
[R]6:00 PM Sydney – Australian markets traded flat in the afternoon but resource stocks led the gainers. In shortened trading week, the ASX 200 index advanced 3.5% after miners rallied and banks traded near 5-year highs.[/R]
Australian markets opened higher but struggled to retain the advance after flat trading in the afternoon but resource stocks closed higher.
The widely followed ASX 200 index closed down 5 points to 5,098 and for the week increased 166 points.
Total value of all stocks traded fell to $3.9 billion and 694 million shares changed hands.
Stocks in Review
Dexus Property Group closed unchanged at $1.13 and the company signed a deal with a related Dexus Wholesale Fund to acquire a stake in a Brisbane based office building for $544 million.
Graincorp Limited soared 8% to $12.81 after the U.S. based Archer Daniels Midland revised its third bid to $12.20 a share and the company agreed to grant access to its financial information.
Leighton Holdings Limited’s subsidiary won a $72 million government contract to rebuild Brisbane’s RiverWalk that was washed away in 2011 floods.
ResMed Inc declined 4 cents to $4.46 after the maker of medical equipment for sleep disorder said March quarter revenues increased 10% to $374.5 million. Net income in the quarter soared 31% to $84.9 million.
The board declared a quarterly dividend of 17 cents a share.
Annual Returns
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Earnings
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