The market is up 6. The SFE Futures were up 16 this morning.

The Dow Jones closed up 56 on Friday. The Dow was up 84 at best and down 12 at worst. All three major indexes finished down for the week. Economic data came in better than expected but Google and Bank of America disappointed with their earnings numbers. Metals closed mostly higher on Friday, the oil price put on $1.55 to $109.66 and Gold increased $13.60 to $1486. The Aussie dollar increased to 105.66c from 104.50c.

Today’s main stories…

  • Woolworths (WOW) reported 3rd Q sales numbers of $13.56bn, up 5.1% on last year. The supermarket division reported sales of $11.77bn, up 5.2%. Importantly, they reiterated their FY earnings guidance. CEO Michael Luscombe said the trading environment is likely to be subdued, especially in the consumer discretionary space. WOW up 19c to 2672c.
  • Leighton Holdings (LEI) said they didn’t issue an earnings downgrade earlier because they didn’t have enough certainty on their earnings numbers. The ASX queried them on the timing of their announcement. LEI said, “At all times the company has been mindful of its continuous disclosure obligations. It was not until the conclusion of the review process at the board meeting on the morning of 11 April 2011 that there was sufficient certainty regarding the facts and circumstances underpinning the earnings downgrade.” LEI down 19c to 2469c.
  • Paladin Energy (PDN) cut their FY production guidance on Friday to the lower end of their previous expectations after bad weather and a fuel shortage hurt their production in Namibia. PDN up 12c to 376c.
  • Molopy Energy (MPO) down slightly after releasing their company business strategy this morning. MPO down 3c to 90.5c.
  • Mesoblast (MSB) up 4% to 802c after announcing it will be included in the S&P/ASX 200 at the expense of Tower Australia Group.
  • Dart Energy (DTE) has announced a fully underwritten $100m share issue for an accelerated drilling program. DTE unchanged at 86c.
  • Conquest Mining (CQT) has announced improved production at their Pajingo Mine. CQT up 7% to 58c.
  • Transfield Services (TSE) JV with WorleyParsons (WOR) has been awarded a $65m contract with Woodside Petroleum (WPL). Takeover talk surrounding WPL has now eased. TSE up 2c to 347c, WOR up 1.1% to 3134c and WPL up 10c to 4972c.
  • One broker says Qantas (QAN) needs to construct a partnership with China Eastern to improve profitability in their mainline business. QAN up 1c to 214c.
  • Stocks hitting 52 week highs include: Astron Ltd (ATR) and Sky Network (SKT).

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