Afternoon Report Monday 16 February 2015
• The ASX 200 sold off early in the morning, down as much as 36 points at 5842, only to recover and close 11 points higher at 5888.• Bendigo & Adelaide Bank (BEN) closed 4.4% lower at $13.74, after reporting its half-year earnings of 2015 in line with analysts’ expectations. Investors however are focusing on the future growth earnings outlook, which look weak.• Commonwealth Bank (CBA) closed 0.3% higher at $93.47 after hovering near its all-time highs. CBA trades ex-dividend tomorrow, for the amount of $1.98 fully franked.• G8 Education (GEM) closed 10% lower at $4.30 after missing consensus numbers in its half-year earnings.• QBE Ltd (QBE) closed 3.4% higher at $11.98 after selling its Australian Agency Business for $290m in cash by Steadfast Group (SDF), currently in trading halt pending capital rising to pay for QBE’s asset.
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