Share Market Ends The Day Lower With Investors Unimpressed By Profit Results

The Australian share market has ended the day lower, with investors unimpressed by the raft of profit results being released.

There was also a cautious mood globally after talks over Greece’s debt crisis broke down.

The All Ordinaries fell 27 points to 5,822 and the ASX 200 was down 30 points at 5,858.

The banking sector ended lower, pushed down by ANZ. Its shares slid 2.5 per cent on shrinking first-quarter margins and flat trading income.

Commonwealth Bank was down almost 4 per cent as it went ex-dividend, but the other two big banks were up a touch.

The big miners also weighed on the market.

Fortescue Metals’ shares slumped almost 5 per cent as it reported an 81 per cent drop in first half profit.

BHP Billiton and Rio Tinto also fell a fraction.

Investors shrugged off a narrow interim loss at Pacific Brands, the company behind Bonds underwear. Its shares rose more than 2 per cent.

Packaging giant Amcor was up 2.5 per cent on a rise in first half profit.

Investors welcomed Coca-Cola Amatil’s massive jump in profit – pushing its shares up 6.3 per cent.

Online job ads business Seek fell almost 9 per cent as its increase in interim profits missed analysts’ expectations.

Shares in the freight logistics company Asciano fell 1.5 per cent after it posted a slight rise in first half profit.

Sonic Healthcare lifted its interim dividend despite suffering a fall in first half profit, but its shares fell a fraction.

At 5:00pm (AEDT) the Australian dollar was buying 77.94 US cents, 68.6 Euro cents, 50.67 British pence, 92.35 Japanese yen, and $1.04 New Zealand.

West Texas intermediate crude oil was selling at $US52.61 a barrel, Tapis crude oil in Singapore was worth $US64.85 a barrel and spot gold was trading at $US1,228 an ounce.

This news story is reprinted from www.abc.net.au

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