While the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) approaches 5000 (at time of writing), up nearly 4% for the week, there were five numbers that had a massive impact on the Australian sharemarket.
(-55 per cent) – Australia’s biggest gold miner Newcrest Mining Limited’s (ASX: NCM) first half profit tumbled 55% due to lower gold and copper prices and a shutdown at a major mine. Net profit for the six months fell to US$81 million ($113.82 million), from US$180 million a year earlier.
(-$80 million) – Casinos operator Star Entertainment Group Ltd’s (ASX: SGR) profit dropped 38% because high-rolling international VIP gamblers won more times than expected. The lucky high-rolling VIPs put an $80 million dent in the group’s profits.
0.43 cents – Energy giant Woodside Petroleum Limited (ASX: WPL) slashed its dividend payout for shareholders after its full year profit slumped to US$26 million ($36.62 million). Woodside cut its final dividend to US$0.43 cents a share, way below the US$1.44 payout a year ago.
6.0 per cent – Australia’s unemployment rate rose to 6.0 per cent in January, which missed market expectations. The total number of people with jobs fell 7,900 in the month, compared to expectations of a rise of 15,000.
(-$2.7 billion) – Yet another energy player to be hit by tumbling oil prices, this time Santos Ltd (ASX: STO), which has reported a full year net loss of $2.7 billion, after taking impairments of $3.9 billion against its production assets.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor John Hopkins has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
- Why the South32 Ltd share price climbed higher today – February 25, 2016 5:22pm
- Are JB Hi-Fi Limited & Harvey Norman Holdings Limited shares set to soar on Dick Smith closure? – February 25, 2016 5:09pm
- Bunnings could buy Masters sites from Woolworths Limited – February 25, 2016 4:58pm