Australian Investment Blog

• The ASX 200 closed 25 points lower (-0.4%) at 5,743 with the utilities sector underperforming the broader market. E.g. AGL Energy closed 2.1% lower at $14.76 following yesterday’s earnings result as well as the weak lead in the US.• We exited Suncorp (SUN) early this morning after evaluating yesterday’s company report. I would not consider buying the stock if I had no position so the decision to exit was easy. At these prices I am happier holding CBA.• Telstra (TLS) reported its half yearly earnings in line with consensus, the stock closed 4c lower at $6.45. We are remain happy holding this stock at present.• The Oil Sector closed weaker as expected; Woodside (WPL) ended 0.9% lower at $33.84 and Santos (STO) down 1.6% at $7.59.• RIO Tinto (RIO) closed slightly higher, up 0.2% at $59.90 as investors wait for its earnings report in hope of potential capital return.• Transurban (TCL) reported its earnings in line with expectations and upgraded its distribution forecast for the full year. TCL closed 0.8% lower at $9.23.• The ASX Limited (ASX) closed 1.2% lower at $39.65 after reporting its earnings in line with estimates. • The trend appears to be if stocks report in line with expectations they sell off slightly e.g. CBA and ASX.