THE market finished at 5607.35, down 18.01 points from the previous week’s close of 5625.36.
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The All Ordinaries finished down 24.04 points.
The Australian market finished lower after a wobbly trading session, as the Federal Reserve signalled the possibility of interest rates hike next month. Share price movements were heavily influenced by earnings announcements.
GWA Group soared 18 per cent, while APN Outdoor plunged more than 35 per cent. There were mixed results from the sectors. Consumer staples posted the largest gains while energy and materials lagged behind. The Australian dollar depreciated against the greenback and had mixed results against other major currencies.
Fisher and Paykel Healthcare Corporation announced it had updated its earnings guidance for the financial year ending March 31, 2017.
Trading has been strong in the first five months. At current exchange rates, the company expects operating revenue for the first half of 2017 to be NZ $420 million and net profit after tax to be NZ $76 million, or about 23 per cent above the first half last year.
Qantas Airways announced an on-market buy-back of up to $366 million of ordinary shares. For tranche one, the buy-back will start from September 8 until completed with no limit as to duration. Tranche two starts from October 24 following the company’s AGM. Qantas gained five cents (1.47 per cent) to $3.45.
Qube Holdings announced a sound result for the year ended June 30. The result will significantly enhance its ability to deliver long term shareholder value by delivering supply chain efficiency across the import and export logistics sector. Qube lost two cents to $2.65.
The gold price finished at $1325.90 per ounce, the WTI oil price traded at $47.64 a barrel, and the Australian dollar was worth US $0.75.
The Dow Jones finished down 53.01 points to end the week at 18,395.40. The result caused the Share Price Index to finish down four points to end the week at 5482, which should lead to a neutral start to trading.