All Ordinaries

The All Ordinaries Index ended the day 1.0% higher to close at 4,451.9. At its board meeting today, the RBA cut the official cash rate by 0.25% to 3.25% p.a.

Qantas Airways Limited (QAN) ended the day 2.52% higher to close at $1.22 after announcing that it has reached an agreement to sell its 50% stake in StarTrack to Australia Post for net proceeds of $408m.

 

The All Ordinaries Index ended the day mostly flat to close at 4,408.3.

Arrium Limited (ARI) ended the day 24.77% higher to close at $0.68 after announcing that the Board has rejected a $0.75/share take-over proposal from Noble Group Limited. The Board believes that the proposal undervalues Arrium in the context of a change of control transaction and that the proposal is highly conditional.

 

The All Ordinaries Index ended the day 0.1% higher to close at 4,406.3.

Leighton Holdings Limited (LEI) ended the day 0.5% higher to close at $16.62 after announcing the completion of the sale of Thiess Waste Management to Remondis AG & Co KG, for gross proceeds of $218m.

 

Qantas Airways Limited (QAN) ended the day 1.2% higher to close at $1.22 after announcing group passenger numbers for August 2012 were up 2.4% from the previous year.

 

The All Ordinaries Index ended the day 0.3% lower to close at 4,382.5.

Australia and New Zealand Banking Group Limited (ANZ) ended the day 0.2% lower to close at $24.50 after announcing its ‘ANZ’ and ‘The National Bank’ branches in New Zealand will be brought together under one brand (ANZ Bank New Zealand).

 

The All Ordinaries Index ended the day 0.5% lower to close at 4,409.2.

Bendigo and Adelaide Bank Limited (BEN) ended the day 0.6% lower to close at $7.75 after announcing plans to issue a new Tier 1 hybrid security to raise approximately $125 million.  The issue will provide investors with floating rate, semi-annual dividends that are expected to be fully franked. The margin is expected to be in the range of 5.0 to 5.5 per cent above the bank bill rate.

 

The All Ordinaries Index ended the day 0.5% lower to close at 4,409.2.

 

Bendigo and Adelaide Bank Limited (BEN) ended the day 0.6% lower to close at $7.75 after announcing plans to issue a new Tier 1 hybrid security to raise approximately $125 million.  The issue will provide investors with floating rate, semi-annual dividends that are expected to be fully franked. The margin is expected to be in the range of 5.0 to 5.5 per cent above the bank bill rate.

 

The All Ordinaries Index fell 20.6 points to end the day 0.46% lower at 4,419.8. 

 

OrotonGroup Limited (ORL) gained 2.4% to close at $6.86 after announcing FY12 net profit of $24.9m, up 0.5% on FY11.  ORL declared a final dividend of 28cps (ff), bringing the full year payout to 50cps, flat on the pcp.