Australian shares close lower on profit taking, stocks going ex-dividend |
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Tue, 27 Feb 2007 06:40
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SYDNEY (XFN-ASIA) - Share prices closed down as investors took profits following strong gains to successive record closes over the past week, dealers said.They said a number of blue-chip stocks went ex-dividend, which weighed on the market, although solid earnings reports continue to support sentiment.The S&P/ASX 200 closed down 50.2 points or 0.83 pct at 5,993.8, retreating from yesterday's record close of 6,044.0.The broader All Ordinaries index shed 44.3 points to close at 5,977.6, also slipping from the previous record finish of 6,021.9 set yesterday.Dealers said Westfield, the world's largest shopping center owner, succumbed to profit taking in the wider market despite its 2006 net profit jumping 31 pct to 5.583 bln aud.However, the nation's largest retailer, Woolworth,s climbed on its year to June net profit guidance of a result 20-24 pct higher than the record 1.015 bln aud reported for the preceding year. The company also reported a 28 pct rise in its interim net profit to 695.6 mln aud, which beat analysts' forecasts of 676 mln aud.Air New Zealand rose on its interim net profit surging 61 pct to 74 mln nzd from a year ago due to increased revenue and passengers.Summit Resources soared after African-focused uranium miner Paladin Resources made a 1.011 bln aud scrip takeover bid for the uranium explorer.(1 usd = 1.26 aud, 1.40 nzd)paul.daniel@xfn.com
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Australian shares close higher led by banks; All Ords at new high - UPDATE 