• The ASX 200 touched another high since May 2008 this morning before selling off and ending 12 points lower at 5,904. • The Earnings season continue...

Nicholas Forsyth

Market Matters

• The ASX 200 touched another high since May 2008 this morning before selling off and ending 12 points lower at 5,904. • The Earnings season continue to dominate the market recently with the following today: -Wesfarmers (WES) down 1.6% at $45.18 after slightly missing consensus earnings and reporting a $0.89 fully franked dividend. -AMP up 2.5% at $6.66. Its earnings were ahead of analysts' expectations with a dividend of $0.18. -Crown Resorts (CWN) rallied 9.8% at $15.88 after reporting its first half earnings above consensus. -Fairfax (FXJ) closed 2.3% higher at $0.91 after reporting its earnings in line with expectations. FXJ have also announced a 5% buyback over the next 12 months. -Origin Energy (ORG) reported its earnings slightly lower than consensus and announced an unfranked dividend of $0.25/share. ORG closed 0.2% higher at $21.76 -Super Retail (SUL) rallied 10% at $9.71 despite posting a loss of 46% of net profit for the year. Investors looked past this and focused on its future plan with its outdoors businesses. -iiNet (IIN) slumped 11% at $6.41 after its earnings were below consensus. (VIEW LINK)


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Nicholas Forsyth
Director
Market Matters

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