Afternoon Report Wednesday 13 August 2014
The ASX 200 closed 16 points lower today, with both the banking sector and major resources contributing to the broad weakness. Of the main 8 companies to report today, 5 ended with their shares lower, between -0.9% and +6.0% respectively.
Commonwealth Bank (CBA) was marked lower after reporting today, closing down 73c to $80.96 after reporting an FY 2014 earnings result in line with consensus and $2.14 fully franked dividend to be paid late this month. I still anticipate a period of consolidation from CBA after basically doubling in recent years. If a profit of $8.6b is not exciting, the growth probably needs to catch up.
Investors welcomed Suncorp’s (SUN) FY 2014 earnings, closing up 37c to $14.40, after signalling a 6% growth across its insurance business and rewarding shareholders with a final dividend of 40c a share, plus an additional special dividend of 30c a share.
Show more...
