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Morning Market Report

The Eurozone posted a record current account surplus of €110.8 billion for 2012, 1.2% of their GDP.

The Market is up 5. US markets were closed for the Presidents day public holiday. SFE Futures were down 4 this morning.

The Eurozone posted a record current account surplus of 110.8 billion euros for 2012, 1.2% of their GDP. Markets a bit concerned in Europe about ECB President Draghi comments that have morphed from “positive contagion” to “yet to see signs of recovery in the eurozone”. The Italian election this weekend also causing concerns that there will be no clear result taking momentum out of the reform process.

European market mixed  — UK FTSE down 0.16%, German DAX up 0.46%, France up 0.18%, Spain down 0.51%, Italy down 0.51%. The trading volumes were again light with almost half the 30 day average traded.

Metals down — copper down 1.06%, nickel down 2.86%, zinc down 0.86%, aluminium down 2.36%. Spot iron ore up $2.10 to $157.20 as China gets back to work after the Lunar holiday. Gold was unchanged at $1609.50. Oil down 31c to $95.86.

  • APN News and Media (APN) — Two biggest shareholders force out CEO and board members. APN is down 6.67% to 28c.
  • Transfield Services (TSE) — Announces an impairment charge totalling $270-$285 million. TSE is down 5% to 199.5c.
  • Asciano (AIO) — 1H net profit of $199 million up 74.5% and above an expected $157.3 million. Div 5.25c. AIO up 3.33% to 542.5c.
  • Sonic Healthcare (SHL) — Net profit of $155.5 million up 5.4% and below an expected $165.2 million. Div 25c. FY13 earnings expected at lower end of guidance. SHL is down 6.76% to 1310c.
  • Monadelphous (MND) — Net profit of $79.1 million up 37.5% but below an expected $81.6 million. Dividend of 62c. MND down 6.43% to 2606c.
  • Arrium (ARI) — 1H Net loss $447.2 million which includes impairment charge of $474 million. Underlying profit of $51 million. Dividend cut to 2c. ARI is unchanged on 126c.
  • Fleetwood Corp (FWD) — Net profit of $5.1 million down 81%. Interim dividend of 30c. FWD is down 1.3% to 984c.
  • InvoCare (IVC) — Profit of $44.5 million up 64.7% and above an expected $42.9 million. IVC is up 1.73% to 999c.
  • Southern Cross Media Group (SXL) — Net profit of $45.1 million down 52% but better than the expected $40.4m. SXL up 9.35% to 134.5c.
  • Coca-Cola Amatil (CCL) — Underlying Net profit of $558.4 million up from $532 million and in line with a consensus forecast of $559 million. Final dividend of 32c. CCL is up 2.27% to 1394c.
  • Decmil Group (DCG) — Net profit up 79% to $23.3 million. EBITDA up 84% to $36m. DCG is up 4.58% to 251c.
  • Mount Gibson Iron (MGX) — NPAT of $37.1 million down 72% and below an expected $49 million. MGX is down 5.03% to 85c.
  • McPherson’s (MCP) — NPAT of $10.9 million in line with guidance.
  • Cardno (CDD) — EBIT rose 7% to $58.7 million which was in line with a consensus forecast of $58.9 million. Net profit was up 13% to $41.6 million and above an expected $39.3 million. CDD is up 0.55% to 733c.
  • Oakton (OKN) — Revenue was flat at $82.9 million versus a broker forecast of $80.4 million. NPAT was down 11% to $4.5 million and slightly above an expected $4.2 million. OKN is down 11.03% to 129c.
  • Ex Dividend  — BLD, CPU, DMP, SAI, WES & WESN.

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