Australian Market Update: Winners and Losers

Strategic Insights -

ANZ Bank reported a record interim net profit of $1.81 billion, a 16 per cent increase on the previous corresponding period, while BHP Billiton named Mike Yeager as its new energy division boss. ABC Learning Centres requested a trading halt to raise $600 million for US expansion, and Cazaly's shares plummeted 77 per cent after losing the Shovelanna iron ore tenement. Meanwhile, Australian major companies such as Woodside and BHP Billiton are thriving, despite Australia's diminished status as an oil producer.

Key Takeaways:

  • ANZ Bank reported a record interim net profit of $1.81 billion, a 16 per cent increase on the previous corresponding period.
  • BHP Billiton appointed Mike Yeager as its new energy division boss, filling the vacancy created by Phil Aiken's departure.
  • ABC Learning Centres requested a trading halt to raise $600 million for US expansion.
  • Cazaly's shares plummeted 77 per cent after losing the Shovelanna iron ore tenement.
  • Australian major companies such as Woodside and BHP Billiton are thriving, despite Australia's diminished status as an oil producer.
  • Frank Cicutto and Run Corp saw their share prices more than halve since listing.
  • Qantas flagged a rise in its fuel surcharge from May 5.
  • The Australian economy has slipped a notch on the world rankings, with Taiwan now ranking 16th.
  • The International Monetary Fund estimated Australia's average growth rate slowed to 3.1 per cent a year since 1999.

Statistics:

  • ANZ Bank's interim net profit: $1.81 billion
  • Percentage increase in ANZ Bank's profit: 16%
  • Cazaly's share price drop: 77%
  • New high for ANZ's share price
  • Record interim net profit for ANZ Bank
  • Estimated average growth rate of Australia's economy: 3.1 per cent a year since 1999
  • Taiwan's ranking in the world economy: 16th

Sources:

  • "BHP Billiton names Exxon man Yeager to head energy division" - The Sydney Morning Herald
  • "ANZ profits soar" - The Australian
  • "ABC Learning raises $600m for US expansion" - The Sydney Morning Herald
  • "Cazaly shares plough on" - The Australian
  • "Australian economy slips a notch" - Reuters