Afternoon Report Wednesday 25 February 2015
• The ASX 200 inched higher again today, up 18 points at 5,945, its third consecutive day in positive territory.• The materials sector rallied in the afternoon after the HSBC China Markit PMI reported at 50.1 meaning an improvement. BHP Billiton (BHP) closed 1.3% higher at $33.50 and RIO Tinto (RIO) up 0.7% at $63.58.• Crown Resorts (CWN) lost ground today, down 2.9% at $15.21 following the shares of Macao casino operators trading weak in Hong Kong due to softer than expected gambling.• Reporting season standout wrap 24 February 2015:
o Seven Group Holdings (SVW) closed 10.8% higher at $6.85 after posting its half-year earnings slightly above guidance and consensus, with revenue decreasing by 11.4% for the first half.o WorleyParsons (WOR) nose-dived, down 12.2% at $9.86 after revenues declined more than expected due to the battered oil price.o Iress (IRE) reported its full year earnings in line with expectations, closing 5.7% lower at $10.03, however investors were disappointed with its outlook for the next year.o Charter Hall (CHC) closed 4.5% higher at $4.90 after reporting slightly higher than consensus.o APA Group (APA) closed 3.5% higher after reporting slightly above consensus.o Southern Cross (SXL) surprisingly rallied 18.2% at $1.1105 after reporting its net profit below consensus.
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