The Australian share market finished session marginally lower on Friday, 04 February 2022, after recouped early losses, thanks to better than expected retail sales data and government announcement to reopen borders to tourists on February 21.
At closing bell, the benchmark S&P/ASX200 fell 9.36 points, or 0.13%, to 7,110.85. The broader All Ordinaries index sank 4.71 points, or 0.06%, to 7,414.20.
GrainCorp (GNC) finished 12.3% higher to $8.10 after saying it expects annual EBITDA between $480m-$540m and underlying profit of $235m -$280m
James Hardie Industries (JHX) climbed 2% to $48.60 after it posted a 26% jump in net revenues, a 147% increase in profits and a 4% climb in net tangible assets per share. JHX also expects annual adjusted net income to be between US$620m-US$630m, around a 6% increase from its previous guidance.
Magellan Financial Group (MFG) tumbled 11.2% to $16.43 after the fund manager declared a $2bn (2%) decrease in funds-under-management (FUM), $1.5bn of which was retail FUM.
ECONOMIC NEWS: Australia Retail Sales Down 4.4% On Month In December- Australia value of retail sales was down a seasonally adjusted 4.4% on month in December, the Australian Bureau of Statistics said on Monday, coming in at A$31.926 billion.
That follows the 7.3% spike in November. On a yearly basis, retail sales were up 4.8% in December. For the fourth quarter of 2021, retail sales were up 8.2% on quarter and 3.6% on year at A$92.327 billion.
CURRENCY NEWS: The Australian dollar was at $0.7092, off levels above $0.714 seen last week.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU