Australian Sharemarket Returns with a Bang After Holiday

Strategic Insights -

The Australian sharemarket rebounded strongly from its Australia Day holiday break, with the All Ordinaries Index climbing 23.5 points to 2851.4, and the All Industrials Index rising 49.3 points to 5162.9. National Australia Bank's 39% increase in first-quarter net profit to $456.55 million drove the rally, while News Corp's agreement with Yahoo Inc and preparation to buy Italian soccer league rights sent its shares soaring. The major banks also posted gains, with Commonwealth Bank leading the pack.

Key Takeaways:

  • The Australian sharemarket rebounded with a 23.5-point gain to 2851.4, driven by National Australia Bank's 39% surge in net profit.
  • News Corp's shares rose 55 cents to $10.85 and 59 cents to $10.25 after the company announced a marketing agreement with Yahoo Inc and plans to buy Italian soccer league rights.
  • Commonwealth Bank was the top performer among major banks, rising 38 cents to $23.04.
  • ANZ bank was up 2.8 cents to $10.308 and Westpac bank improved 5 cents to $10.75.
  • The gold index dropped 13 points to 1067.3 as the bullion price closed in Sydney at $286.05.
  • 674 stocks rose, 566 fell, and 543 were unchanged.

Statistics:

  • The All Ordinaries Index climbed 23.5 points to 2851.4.
  • The All Industrials Index rose 49.3 points to 5162.9.
  • National Australia Bank's net profit increased 39% to $456.55 million.
  • News Corp's shares rose 55 cents to $10.85 and 59 cents to $10.25.
  • Commonwealth Bank's shares gained 38 cents to $23.04.
  • Gold index dropped 13 points to 1067.3.
  • Turnover was 383.52 million shares traded at a value of $788.25 million.

Sources:

  • COMTEX news (http://www.comtexnews.com)
  • XINHUA (Jan. 27)