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The Aussie sharemarket edged lower for a third straight session with the ASX 200 losing 0.27 per cent or 19.4 points to 7122.2. Eight (of 11) sectors finished in negative territory. Energy finished 1.2 per cent higher to be the best performing sector while the financials sector posted a 1 per cent loss as the Big 4 banks weighed.

Nufarm (NUF) was the best performer gaining 8.9 per cent after releasing FY22 results. Underlying EBITDA rose 24 per cent to $446.7 million and NPAT increased by 65 per cent to $107.4 million. NUF noted ‘favourable seasonal conditions and strong soft commodity prices generated strong demand’ in FY22 and are ‘on track to meet or exceed FY26 revenue aspirations’. A 6 cent dividend was declared, trading ex-dividend on 24 November and to be paid on 9 December.

Aristocrat Leisure (ALL) delivered its FY22 earnings. Revenue grew 18 per cent to $5,573.7 million and reported profit after tax increased 15.7 per cent to $948.5 million. It declared a 26 cent
dividend, trading ex-dividend 30 November and to be paid on 16 December. ALL finished 5 per cent lower.

Graincorp (GNC) lost 2 per cent after announcing its FY22 results. NPAT increased 173 per cent to $380 million, partly driven by higher volumes and demand for Australian grain. GNC declared a
14 cent ordinary dividend and a 16 cent special dividend, trading ex-dividend 29 November and to be paid on 14 December.

 

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Pilbara Minerals (PLS) announced its capital management framework and dividend policy. An inaugural dividend payment is to be applied to FY23 and the target dividend payout ratio was established at 20 – 30 per cent of free cash flow. PLS closed 1.9 per cent higher.

Sezzle (SZL) released its October business update, posting a US$1.5 million net loss to improve on its 4Q21 average monthly loss of US$8.6 million. SZL gained 15 per cent while its larger BNPL competitor, Zip (ZIP), added 12.1 per cent.

Oz Minerals (OZL) entered into a trading halt “pending an announcement by the Company in relation to a potential change of control transaction”. OZL received and rejected a $25.00 per share offer made by BHP Group (BHP) previously.

In economic news, the Australian Wage Price Index grew by 1 per cent in the September quarter, the fastest quarterly growth rate in 10½ years. Annual WPI growth lifted from 2.63 per cent in the June
quarter to 3.13 per cent in the September quarter, the fastest growth for 9½ years.

In the US tonight, retail sales, industrial production and export/import prices are some of the economic data to be released. Target and Lowe’s are scheduled to report earnings.

Today, 3.5bn shares were traded, worth $7.4bn. 616 stocks rose, 737 fell while 446 finished unchanged.

originally  Published by CommSec