Aussie shares have closed lower today despite some good gains early in the session dragged down by the major miners BHP and Rio Tinto. However ANZ’s upbeat outlook kept the top banks higher.
The S&P/ASX 200 Index closed 11 points lower at 4,479 while on the futures market, the SPI200’s down 12.
To company news around this afternoon: Miner CBH Resources Ltd (ASX:CBH) has posted a full year loss of $96.6 million, a much wider loss than the $29.07 million loss it reported for the same period last year. The result was impacted by an impairment loss of $87.7 million which included a write-down in the company’s Endeavor assets of $44 million. Revenue fell 27 per cent to $133.2 million primarily due to lower metal prices and reduced metal production at the company’s Endeavor Mine. Managing director Stephen Dennis says CBH is confident that the worst is behind them, saying that metal prices have been kinder in recent months, and with Endeavor performing well, the company has certainly reached calmer waters. CBH Resources shares closed 4.76 per cent weaker at $0.10.
Property investor GPT Group (ASX:GPT) says it will acquire a 16.67 per cent stake in Highpoint Shopping Centre and the adjacent Maribyrnong Homemaker City Centre for a total of $206.3 million. CEO Michael Cameron says the asset has one of the largest trade areas for a regional centre in Australia and attractive long-term expansion opportunities with significant existing land holdings. Last week the company reported a $1.2 billion first half loss. Mr Cameron says with 16 weeks to go until the end of the year the company is pretty confident it will deliver its $365 million guidance. GPT shares closed 0.81 per cent lower at $0.615.
Also making news today: Diversified Resources company Straits Resources Ltd (ASX:SRL) has reported a net loss of $42.1 million after impairment charges and minority interests for the year to June but says the outlook for the company in 2010 is positive.
Warrnambool Cheese and Butter Factory Company Holdings Ltd (ASX:WCB) has posted a net loss of $19.9 million for fiscal 2009 down from a profit of 44.4 million the year before. The company says it is in a good shape to take advantage of improved international commodity prices as world economies recover.
Australia and New Zealand Banking Group (ASX:ANZ) says it is on track to match its 2008 profit of $3.3 billion on strong revenue growth.
And Resource company Felix Resources Ltd (ASX:FLX) has reported a 42 per cent increase in net profit for the year. Net profit for the year to June 30 came to $267.6 million, up from $188.5 million the year before.
Now to the best and worst performers: One of the best performing sectors at close was the Financials excluding Real Estate Investment Trust index, up 68 points to 5,210; while the worst performing sector at close was the Telco Services index; down 41 points to 1,133.
The best performing stock in the S&P/ ASX200 was Ausenco shares rose 11.26 per cent to $4.84. Shares in Transpacific Industries Group and Kingsgate Consolidated also closed higher.
The worst performing stock was Carnarvon Petroleum with shares falling 12.5 per cent to $0.525. Shares in Energy World Corporation and Macquarie Media also closed lower.
In commodities, gold is trading at $956 U.S an ounce and light crude is down 35 cents at $72.39 U.S a barrel.
