The local share market has closed lower today, profit-takers driving stocks down. The major miners like BHP and Rio Tinto and the banks were among the biggest losers of the day.
The gold miners also took a hit Lihir Gold closed weaker today after posting a loss of US$234 million for 2009 after writing off its now discontinued Ballarat mine.
The S&P/ASX 200 Index finished 13 points lower at 4,655 while on the futures market, at 4pm the SPI200 was down 13 points.
To company news around this afternoon: Conglomerate Wesfarmers Ltd (ASX:WES) has reported a better than expected first half profit today thanks to a strong performance from its retail divisions. Net profit after tax for the six months to December 31, 2009 rose 1% to $879 million on the back of a 1% rise in revenue for the period to $26.533 billion. The company says the result was boosted by a 22.6% rise in earnings from its retail division reflecting the continued turnaround of Coles, Kmart and Officeworks and despite a significant fall in earnings in its resources division. Wesfarmers declared a final dividend of 55 cents a share, up on 50 cents for the same half last year. Wesfarmers shares closed 3.2% higher at $30.60.
ASX Ltd (ASX:ASX) has reported a 2.3% fall in profit for the first half of fiscal 2010 to $168 million and says it is confident about its business growth prospects for the balance of the financial year. Operating revenue rose 5.7% to $302.8 million for the six months to December 31, 2009. The Australian stock exchange regulator says based on activity levels in the early weeks of the second half of fiscal 2010, it is confident about its business growth prospects for the balance of the financial year. The company declared an interim dividend of 89.1 cents a share. Shares in ASX closed 2.98% higher at $36.92.
Also making news: Broadcaster Austereo Group Ltd (ASX:AEO) has reported a flat first half result saying that it believes the capital city radio ad market will gradually recover over the second half of fiscal 2010.
Commercial printing and distribution company PMP Ltd (ASX:PMP) has reported a profit of $13.7 million for the first half of fiscal 2010 after posting a loss for the first half of fiscal 2009.
Top airline Qantas Airways Ltd (ASX:QAN) has reported a 72% drop in profit for the first half of fiscal 2010 but expects to post profit of between $300 and $400 million for the full year.
And AMP Ltd (ASX:AMP) today reported a 27% jump in profit for 2009 and says AXA Asia Pacific Holdings remains strategically attractive for the company and it will consider its position and do what is in the best interest of shareholders which has prompted speculation it will lift its bid for the company.
In the best and worst performers: The best performing sector at close was the Consumer Staples index, up 112 points at 7,509. At the other end, the worst performing sector at close was the Materials index which 155 points lower at 12,058.
The best performing stock in the S&P/ ASX200 was Emeco Holdings, shares gained 4.83% to $0.76. Shares in Western Areas and IOOF Holdings also improved.
The worst performing stock was Qantas, shares fell 8.08% to $2.73. Sims Metal Management and St Barbara shares also closed lower today.
In commodities, gold is trading at $1,102.30 U.S an ounce and light crude is down 44 cents at $76.89 U.S a barrel.
