China Growth Extends Weekly Rise of 3% in Australia

Marcus Jacob
17 Jul, 2015
New York City

Market indexes in Sydney in volatile trading closed unchanged and trading volume was 30% below normal. For the week, the ASX index surged 3.2%. Metcash surged 10% after supermarket operator appointed a new chief. Santos Limited said quarterly production increased 12%.

[R]5:30 PM Sydney – Market indexes in Sydney in volatile trading closed unchanged and trading volume was 30% below normal. For the week, the ASX index surged 3.2%. Metcash surged 10% after supermarket operator appointed a new chief. Santos Limited said quarterly production increased 12%.[/R]

Stocks in Sydney gyrated in morning trading and settled to a quieter trading in the afternoon and closed unchanged.

Australian dollar closed at 74.05 U.S. cents and in stock trading turnover fell to 606 million shares worth $4.8 billion.

At close, the ASX 200 Index edged up 0.50 to 5,670.10 and the broader All Ordinaries Index rose 2.70 to 5,652.50.

For the week, the ASX 200 index gained 3.2%.

In commodities trading, gold declined US$10 to US$1,145 an ounce and Brent crude rose 23 cents to close at US$57.15 a barrel.

Australian Stock Movers

Jumbo Interactive Ltd soared 9.2% to $1 after the online lottery tickets seller forecasted revenues in the year ending in June to surge 32.8% to $32 million form $24.1 million in a year ago period.

Net profit to decline 7.1% to $2.6 million compared to $2.8 million in the same period a year ago.

Regis Resources Limited surged 26.1% to $1.45 after the gold miner’s board plans to resume paying a dividend of 5 cents to 7 cents per share in the December quarter and also intends to share buyback program for up to 5% of the company’s issued capital.

Santos Limited fell 0.8% to $7.66 after the oil and gas producer reported production in the second-quarter climbed 12% to 14.3 million barrels of oil equivalent but sales declined 19% to $786 million from $974 million a year ago period, due to decline in crude oil prices.

The company maintained production forecast for the fiscal 2015 between 57 million barrels of oil equivalent to 64 million mmboe at a cost in the range of $14.20 to $14.60 per barrel of oil equivalent and capital expenditure including exploration of about $2 billion.

The company schedule to release its half-year result on August 21.