Afternoon Report Tuesday 24 February 2015
• The ASX 200 closed slightly higher, up 19 points at 5,927 as investors focused on corporate earnings.• The banking sector closed mixed, National Australia Bank (NAB) down 0.2% at $37.58 while Commonwealth Bank closed 0.7% higher at $91.04.• Reporting season standout wrap 24 February 2015:
o QBE Insurance (QBE) closed 7.2% higher at $12.45 after reporting a net profit after tax (NPAT) of US$742m for the calendar year. Could this be the turnaround story with US interest rates looking to increase later in the year?o BHP Billiton (BHP) closed 2.9% higher at $33.06 despite missing NPAT consensus for the first half earnings.o McAleese (MCS) slumped 16.9% lower at $0.27 regardless of reporting an NPAT of $52.5m. The 8.4% loss in revenue from a year ago contributed to today’s weakness.o Qube Holdings (QUB) rose 7.2% at $2.83, beating analysts’ expectations with a NPAT of $54.7m.o Orora Ltd (ORA) rallied 7.9% higher at $2.18 beating NPAT consensus.o Specialty Fashion (SFH) closed 4.3% lower at $0.67 after announcing a decrease of first half earnings.o Flight Centre (FLT) closed 12.1% higher at $39.50 as investors welcomed its half year NPAT of $100.3m and reiterating its full year guidance of an underlying profit between $360m - $390m.o Healthscope (HSO) closed 1.8% higher at $2.85 despite reporting its first half earnings below analysts’ expectations.
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