Newcrest Mining's (ASX:NCM) statutory profit rises 134%: ASX closes 0.1% lower

Market Reports

by Melissa Darmawan

The Australian share market closed lower today after opening flat. Communications and Materials led the gains while Information Technology fell. Shares in Nearmap (ASX:NEA) fell before going into a trading halt while AMP sunk 11 per cent following the release of their half year financial year 2020 results.

At the closing bell, the S&P/ASX 200 Index closed 0.1 per cent or 7 points lower at 6,850 points.

Futures

Dow futures are suggesting a rise of 49 points.
S&P 500 futures are eyeing a rise of 5 points.
The Nasdaq futures are looking at a lift of 17 points.
The SPI futures pointing to a fall of 18 points.

Company news

Newcrest Mining (ASX:NCM) report a 134 per cent rise in their statutory profit to US $553 million in the half year ending December 2020 compared to their prior period. Their revenue is up 21 per cent to US$2.17 billion. The company has started construction at its Red Chris mine in British Columbia. The Newcrest Board approved $135 million Canadian funding for the construction. During this half, Newcrest listed on the Toronto Stock Exchange. The company has doubled their interim dividend to US$ 15 cents per share to be paid in March. Shares in Newcrest Mining (ASX:NCM) closed at 4.1 per cent higher at $26.22.

Telstra (ASX:TLS) reports a 2.2 per cent drop in profit to $1.12 billion.

AGL Energy (ASX:AGL) reports a net loss of $2.28 billion dollars for the first half of the financial year 2020, down 808 per cent on the prior corresponding period.

Transurban (ASX:TCL) reports a statutory net loss of $448 million down 668 per cent for the six-month period to 31 December 2020 compared to the prior corresponding period.

Automotive company GUD Holdings (ASX:GUD) reports their NPAT is up 17.6 per cent to $31.3 million for the half year, compared to the prior corresponding period. Also they entered into an agreement to acquire Australian Clutch Services and subsidiaries XCLUTCH USA Inc and Australian Clutch Services NZ for $32 million.

Best and worst performers of the day

The best performing sector was Communication adding 0.9 per cent while the worst performing sector was Information Technology shedding 2.1 per cent.

The best performing stock in the S&P/ASX 200 was Newcrest Mining (ASX:NCM) gained 4.1 per cent to close at $26.22. Shares in Whitehaven Coal (ASX:WHC) and Telstra (ASX:TLS) followed higher.

The worst performing stock in the S&P/ASX 200 was AMP (ASX:AMP) dropped just over 11 per cent to close at $1.37. Shares in Nearmap (ASX:NEA) and Nanosonic (ASX:NAN) followed lower.

Asian markets

Japan’s Nikkei is closed to National Day, Shanghai Composite is closed due to Chinese New Year while Hong Kong’s Hang Seng closed 0.5 per cent higher.

Commodities and the dollar

Gold is trading at US$1,836 an ounce.
Iron ore price rose 1.7 per cent to US$166.90. Its futures are pointing to a rise of 2.4 per cent.
Light crude is US$0.20 lower at US$54.59 a barrel.
One Australian dollar is buying 77.35 US cents.

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