The market is down 7. SFE Futures were down 3 this morning.

Dow closed down 68. The Dow was up 59 at best and down 85 at worst. The S&P500 touched a four year high early in the day but gave back the gains to finish down 5 points. Market volumes were a little stronger than they have been recently but still below the average. Financial stocks were the best performers. Markets are waiting on the outcome of several meetings between European leaders this week; Angela Merkel and French President Francois Hollande are scheduled to meet tomorrow — The Greek PM is meeting the European Commission, Angela Merkel and Francois Hollande this week.

Best Sectors — Financials (+0.2%) and Basic Materials (+0.2%). Worst Sectors — Telecoms (-1.0%), Technology (-0.7%) and Utilities (-0.7%).

European markets up — FTSE up 0.57%, German DAX up 0.79%, France up 0.94%, Spain up 1%, Italy up 2.4% and Greece up 2.65%.

Oil up 71c to 96.68c. Gold up $16.60 to $1639.60. Silver up 2.9%. Aussie dollar is at 104.88c.

  • Woodside Petroleum (WPL) — Interim profit misses consensus forecast — Interim profit down 1.9% to $828m missing consensus forecasts of $885m. WPL is down 2.63% to 3505c.
  • Pacific Brands (PBG) — FY loss worse than expected — Net loss $450.7m which was worse than their $131.9m loss the previous year — The CEO stepped down. BLD down 0.57% to 348c.
  • Seven West Media (SWM) — Result in line, dividend lower — Net profit of $226.9m up 97% and in line with a market consensus of $229.3m. SWM is up 1.71% to 149c.
  • Suncorp (SUN) — FY result OK, special dividend announced — Net profit of $724m up 60% from $453m but below a consensus figure of $776m. SUN is up 1.7% to 897c.
  • CSL — FY result in line — Net profit of $983m up 4.5% from $940.6m and pretty much in line with a consensus forecast of $985.5m. CSL up 1.67% to 4202c.
  • Fletcher Building (FBU) — FY result below expectations – EBIT was down 7% to NZ$546m below an expected NZ$559m. Adjusted NPAT down 13% to NZ$307 below an expected NZ$325m. FBU is down 4.27% to 493c.
  • Asciano (AIO) — Result below consensus, no guidance given — Net profit of $240.8m up 19.4% but below a market consensus of $275.4m. AIO is down 3.11% to 436c.
  • AGL Energy (AGK) — Underlying profit in line — Net profit down 79% from $558.7m to $114.9m. Underlying profit was $482m up 11.8% and in line with a consensus of $483m. AGK is down 0.19% to 1572c.
  • Super Retail Group (SUL) — Net profit was $83.5m up 50%. But below consensus forecast of $95.4m. SUL is down 3.29% to 793c.
  • Boral (BLD) — FY result below expectations — Profit was $101.2m below an expected market consensus of $108.4m, excluding $75m of significant items. BLD is down 0.57% to 348c.
  • Seek (SEK) — Result above consensus, sale of 20% stake in Think — Net profit of $131.7m up 35% and well above a consensus forecast of $124.8m. SEK is 5.67% to 708c.
  • The Reject Shop (TRS) — FY result above consensus, special dividend announced — Net profit of $21.9m up 35.6% and slightly above a market consensus of $20.6m. TRS is up 7.7% to 1055c.

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