Australian Mortgage Loans Rise 5.5%; Ansell, Carsales and JB Hi-Fi in Focus

Marcus Jacob
10 Aug, 2015
New York City

Australian market indexes advanced after a week of volatile trading and commodities prices rebounded. Ansell Ltd annual sales rose 3.5% and net soared more than four-fold. JB Hi-Fi soared 10% and declared annual dividend of 31 cents. Carsales.com agreed to acquire Mexico-based Soloautos.

[R]5:30 PM Sydney, Australia – Australian market indexes advanced after a week of volatile trading and commodities prices rebounded. Ansell Ltd annual sales rose 3.5% and net soared more than four-fold. JB Hi-Fi soared 10% and declared annual dividend of 31 cents. Carsales.com agreed to acquire Mexico-based Soloautos.[/R]

Australian market indexes advanced after a week of volatile trading and banks led the gainers.

Australian dollar closed at 73.97 U.S. cents and in stock trading turnover slipped to 617 million shares worth $4.7 billion.

At close, the ASX 200 Index gained 34.40 or 0.6% to 5,509.20 and the broader All Ordinaries Index increased 32.60 to 5,504.90.

In commodities trading, gold jumped US$8 to US$1,097 an ounce and Brent crude rose 0.25 cents to close at US$48.86 a barrel.

Australian Stock Movers

Ansell Limited tumbled 15.8% to $20.84 after the rubber gloves and condom maker said sales in the year ending in June jumped 3.5% to $1.65 billion from $1.59 billion in a year ago period.

Net profit in the year surged 349% to $188 million compared to $42 million and earnings per share climbed to 122.5 cents from 29.3 cents in the same period a year ago.

Bendigo and Adelaide Bank Ltd dropped 2.6% to $12.63 after the retail bank said total revenues in the year ending in June jumped 7.6% to $1.55 billion form $1.44 billion in a year ago period.

Net profit in the year climbed 13.9% to $423.9 million compared to $372.3 million and diluted earnings per share increased to 87.3 cents from 83.6 cents in the same period a year ago.

JB Hi-Fi Limited soared 10.6% to $21.69 after the home and electronics goods retailer reported total sales in the year climbed 4.8% to $3.65 billion from $3.48 billion in a year ago period.

Net profit in the year jumped 6.3% to $136.5 million compared to $128.4 million and diluted earnings per share advanced to 136.46 cents from 126.89 cents in the same period a year ago.

National Australia Bank Ltd gained 1.5% to $33.32 after the financial services provider forecasted revenues in the third-quarter ending in September to jump 4% and net profit to climb 9% to $1.75 billion after the charges for bad and doubtful-debts in its domestic market were drop by 15% to $193 million.

NAB has estimated the U.K provisions of £420 million for payment protection insurance but may take additional provision of about £60 million to £80 million when declaring the full-year result.

Nine Entertainment Co Holdings Ltd slumped 2.8% to $1.40 after the media and entertainment company secured exclusive Free-to-air rights for premium National Rugby League rights for the 2018 to 2022 seasons worth about $185 million a year.