The market is up 13. The SFE Futures were up 15 this morning.

Wall Street closed up 19 overnight. The S&P 500 closed up after four four days of losses. New home sales fell 12% in July, reaching a record low (since 1963).  Durable goods orders were up less than expected. Metals were mostly down on the LME, the oil price fell $0.58 to $72.52 and Gold was up $12.80 to $1241.30. The Aussie dollar was up to 88.49c from 88.25c.

Results today…

  • Santos (STO) — Net profit for the half rose 94% to $198m from $102m in the previous year, above the $187m analysts expected. STO down 0.14%.
  • Insurance Australia Group (IAG) reported annual net profit fell to $91m from $181m the previous year. Will pay a final dividend of 4.5c, down from 6c a year ago. IAG up 0.92%.
  • Woolworths (WOW) — Slightly better-than-expected result — FY net profit came in at $2.02bn, up 10% on last year and slightly above the $2bn analysts expected. They also announced a $500m off market share buyback. See below.  WOW up 4.72% to 2817c.
  • Virgin Blue (VBA) — Announced an underlying profit before tax of $31m. VBA up 3.57%.
  • Toll Holdings (TOL) — Results in line – Profit rose 3% to $279m from $270m. Volumes and margins up in the 4th Q. TOL up 2.4%.
  • IOOF Holdings (IFL) — Annual net profit rose nearly fivefold to $68.4m. Underlying profit was $97.2m versus consensus at $98m. 18c final dividend a bit below the 20c expected. CEO describes results as “strong”. IFL up 10c to 635c.
  • Ramsay Health Care (RHC) — up 0.15%. Full-year net profit up 39% to $148.3m, up from $106.5m. Underlying was $178.5m above analysts’ estimates of $176m.
  • Iluka Resources (ILU) had a net loss of $6.6m in the 1st half, compared to a $43.6m loss a year before. ILU down 0.95%.
  • Cabcharge (CAB) up 4.71% profit below consensus — Annual net profit fell 6.2% to $57.6m and was below consensus estimates of $60.4m but they are cautiously optimistic about the future. Final dividend of 17c.
  • Tatts Group (TTS) — annual profit more than halved to $119.4m compared with $277.4m last year. Consensus estimate including one offs was $114m. They have announced a special dividend of 11c. TTS up 1.29%.

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