The market is up 32 and above the 5025 high hit in 2010 on the ASX 200. Dow Jones was down 8. SFE Futures were up 13 this morning.

The Dow was down 67 at worst and up 29 at best. Over the week the Dow and Nasdaq were both down 0.1% and the S&P500 was up 0.1%. US industrial production below expectations at -0.1% in January after the previous upwardly-revised +0.4%. The forecast was for +0.2%. The New York Federal Reserve manufacturing index was up from -7.78 to +10.04 in February. US consumer sentiment was up from 73.8 to 76.3 in February. European markets mixed — UK FTSE up 0.01%, German DAX down 0.49%, France down 0.25%, Spain 1.18%, Italy down 0.33%. Volumes traded were on the light side with shares exchanged on the Stoxx 600 over Friday business 27% below the 30-day average.  Metals mixed — copper down 0.41%, nickel up 0.69%, aluminium up 0.57%, zinc down 0.77%. Spot iron ore unchanged at $155.10. Gold was down $26.00 to $1607.50. Over the week gold was down $56.50 or 3.39%, its worst week since June 2012.

  • Lend Lease (LLC) — 1H Net profit of $302.3 million up 38.8%. Distribution of 22c. Above an expected $280.9 million.  LLC is down 1.6% to 1052C.
  • Bendigo & Adelaide Bank (BEN) — 1H13 cash profit of $169.7 million up 4.4% and above the expected $168.8 million helped by better loan margins. BEN is up 3.8% to 1022c.
  • Nib Holdings (NHF) — NPAT of $36.3 million down 5.3% and below an expected $38.6 million. Interim dividend of 5c. NHF is down 3.5% to 219c.
  • Amcor (AMC) — Underlying NPAT up 5.7% to $322 million which was above an expected $302 million. NPAT including significant items was up 16.3% to $238.3 million. AMC is 3.0% to 918c.
  • Boart LongYear (BLY) — Underlying NPAT of $US114 million down 29% and in line with an expected $116.6 million. NPAT was $US68 million down 58%. BLY has cut final dividend to 1c from 5.6c in 2011. BLY is down 6.8% to 200c.
  • Forge Group (FGE) — NPAT of $33.9 million up 60%. Dividend 10c. FGE is up 4.7% to 628c.
  • Pacific Brands (PBG) — NPAT of $38.9 million above an expected $36.9 million. Dividend up 25% to 2.5c. Sales down 6.6% but net profit after tax up 8.9%. PBG is up 6.2% to 78c.
  • Bluescope Steel (BSL) — 1H Net loss of $12 million better than an expected loss of $21.8 million. Underlying profit of $10 million. Expects small net profit in 2H. Nippon JV on track for completion end of March. BLS is up 12.7% to 425c.
  • Cash Converters International (CCV) — NPAT of $18.4 million up 39.2%. EBITDA of $30.4 million up 36.5%. CCV is up 4.5% to 128c.
  • Acrux (ACR) – Profit of $2.5 million up 48%. Revenue of $5.1 million. Cash reserves $19 million. ACR expects significant growth in royalties on net sales in 2013 driven by growth in the US market and Axiron’s increasing market share. ACR is up 1.57% to 388c.
  • Gold stocks thumped today as the gold price dropped below $1600 over the weekend and breaks support.

Peter Fray

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