Australian Indexes Gain 0.5%, Aussie Dollar Slips

Marcus Jacob
02 Jan, 2015
New York City

Australian market indexes advanced 0.5% on the first trading day of 2015 and Aussie dollar eased to a new five-year low. Crude oil extended its six-month long losses and gold declined.

[R]5:30 PM Sydney – Australian market indexes advanced 0.5% on the first trading day of 2015 and Aussie dollar eased to a new five-year low. Crude oil extended its six-month long losses and gold declined.[/R]

Australian market indexes opened higher on the first day of trading in 2015 in thin volume with investors focused on banks and resource companies.

Australian dollar eased and closed at a new four-year low and crude oil extended its six-month long losses.

Australian dollar closed at 81.33 U.S. cents and in stock-trading turnover increased to 314 million shares worth $1.45 billion.

ASX 200 Index gained 24.90 or 0.5% to 5,435.90 and broader All Ordinaries Index rose 26.40 to 5,415.

In commodities trading, gold declined $16 to US$1,186 an ounce and light crude oil fell 85 cents to US$53.27 a barrel. Brent Crude declined 47 cents to close at US$60.11 a barrel.

Australian Stock Movers

Beadell Resources Ltd soared 13.3% to 25.5 cents after gold sales for the year dropped 7% to 166,000 ounces less than the previous estimated range of 180,000 ounces.

Emeco Holdings Limited jumped 3.5% to 15 cents after the earthmoving equipment provider refinanced its $50 million syndicated debt facility with a new $75 million asset backed loan maturing in December 2017.

Inabox Group Ltd closed unchanged at $1 after the telecommunications products service provider completed the acquisition of information technology software and services provider Axxis Technology Group, formerly Anittel Group, for about $1 million in cash plus 6,153,846 shares.

TFS Corporation Limited climbed 5.1% to $1.63 after the Indian sandalwood plantation company announced that the U.S.-based institutional investor agreed to invest in TFS Indian sandalwood plantations spanning 399 hectares.