Australian Markets Soar 3.4% in September; ANZ, Macquarie Net Rise

Marcus Jacob
31 Oct, 2014
New York City

Australian market indexes marched higher and the ASX 200 index extended weekly gain by 0.9% to 1.9%. The benchmark index soared 3.4% in the month after investors turned positive despite the recent collapse in energy prices. ANZ annual net rose 10%. Macquarie first-half net soared 35%.

[R]5:30 PM Sydney – Australian market indexes marched higher and the ASX 200 index extended weekly gain by 0.9% to 1.9%. The benchmark index soared 3.4% in the month after investors turned positive despite the recent collapse in energy prices. ANZ annual net rose 10% and Macquarie first-half net soared 35%.[/R]

Market indexes in Australia traded higher after ANZ Banking Group forecast jump in net income in the current fiscal year.

Australian dollar held below 88 U.S. cents and investors bid up stocks after geopolitical worries receded and iron ore price traded near its recent lows.

Australian dollar dropped to 87.94 U.S. cents and in stock-trading turnover rose to 869 million shares worth $6.78 billion.

ASX 200 Index jumped 50.40 or 0.9% to 5,526.60 and broader All Ordinaries Index gained 47.90 to 5,505.

For the week, ASX 200 increased 1.9% and for the month climbed 3.4%.

In commodities trading, gold declined US$35.76 to US$1,195 an ounce and light crude oil slumped $1.08 to US$81.12 a barrel.

The Australian Bureau of Statistics reported producer prices index rose 0.2% in the third-quarter to September after easing 0.1% in the previous three months.

On a yearly basis, producer prices index jumped 1.2% after increasing 2.3% in the second-quarter.

Australian Stock Movers

Australia and New Zealand Banking Group Limited rose 0.7% or 24 cents to $33.50 after the bank said net revenue in the year ending in September jumped 6.5% to $19.58 billion from a year ago period.

Net profit in the year jumped 15% to $7.27 billion compared to $6.31 billion and earnings per share climbed to 260.3 cents from 238.3 cents in the same period a year ago.

Harvey Norman Holdings Limited increased 1.1% to $3.80 after the integrated retailer said worldwide sales in the three months ending in September jumped 3.2% to $1.41 billion and comparable sales jumped 3.4% from a year ago period.

Pre-tax profit in the quarter climbed 23.5% to $71.8 million compared to $58.2 million in the corresponding period a year ago.

Macquarie Group Ltd jumped 2.2% to $61.17 after the financial service provider reported net revenue in the first-half ending in Sept climbed 16.8% to $4.30 billion from $3.68 billion a year ago period.

Profit in the period soared 35.3% to $678 million compared to $501 million and diluted earnings per share jumped to 204.9 cents from 144.6 cents in the same period of a year ago.

Wesfarmers Ltd rose 0.5% to $44.14 after the department stores operator reported sales at Cole’s supermarkets and hardware chain Bunning’s in the first-quarter ending in September.

The company said sales in the quarter at Coles Express, including fuel dropped 2.3% to $1.9 billion and sales in the food and liquor segment climbed 5.8% to $7.3 billion from the previous corresponding period.

Sales from home improvement business in the quarter surged 11% to $2.2 billion and total sales at Kmart jumped 2.9% to $998 million from a year ago period.

Office supplies total sales in the quarter soared 8% to $403 million and Target total sales declined 4.6% to $753 million compared to the same period a year ago.