Australian Indexes Extend Weekly Losses, Macquarie Net Soars 58%

Marcus Jacob
30 Oct, 2015
New York City

Australian market indexes declined and extended weekly losses after wholesale index increase accelerated in the third-quarter. Aussie dollar weakened. Macquarie Group reported net income in the first-half increased 58%.

[R]5:30 PM Sydney, Australia – Australian market indexes declined and extended weekly losses after wholesale index increase accelerated in the third-quarter. Aussie dollar weakened. Macquarie Group reported net income in the first-half increased 58%.[/R]

Australian market indexes closed down and extended weekly losses and wholesale price index accelerated in the third-quarter.

Producer prices index in the third-quarter jumped 0.9% following the increase of 0.3% in the second-quarter, the Australian Bureau of Statistics reported.

The private sector credit in September advance 0.8% from 0.6% in August, the Reserve Bank of Australia said.

Australian dollar ease to 71 U.S. cents and in stock trading turnover increased to 951 million shares worth $7.5 billion.

At close, the ASX 200 Index slipped 27.50 or 0.5% to 5,239.40 and the broader All Ordinaries Index decreased 21.60 to 5,288.60.

For the week, ASX 200 dropped 2.1% and for the month soared 4.4% but declined 3.2% from a year ago month.

In commodities trading, gold slid US$8 to US$1,160 an ounce and Brent crude future for immediate month delivery added 27 cents to US$49.07 a barrel.

IPO

Enice Holding Company Limited plunged 15% to 34 cents after the wireless communication services provider priced its stock at 40 cents.

The stock opened at 40 cents and closed at 34 cents.

Australian Stock Movers

OceanaGold Corporation declined 3% to $2.57 after the gold and other mineral producer completed acquisition of the New Zealand-based gold mine Waihi worth about $101 million from Newmont Mining Corporation.

Separately, today the miner said revenues in the nine-month period ending in September declined 13.4% from a year ago to $364.4 million.

Net profit in the period tumbled 58.7% to $30.4 million compared to $73.7 million in the same period a year ago.

Macquarie Group Ltd jumped 2% to $85.70 after the financial services provider reported net revenues in the first-half ending in September increased 24.1% from a year ago to $5.32 billion.

Net income in the period surged 57.8% to $1.07 billion compared to $678 million and diluted earnings per share jumped to $3.10 from $2.05 in the same period a year ago.

Qube Holdings Ltd soared 4.1% to $2.29 after the logistic company and its partners agreed to acquire 19.9% stake in rival rail and port group Asciano Ltd in an attempt to block a $12 billion offer from the Canada-based Brookfield Asset Management.

Asciano Ltd stock surged 8.5% to $8.20.