The market is down 5. The SFE Futures were up 18 this morning.

The Dow Jones closed up 9 on Friday for a 2.9% weekly gain. The S&P 500 was up for the fifth straight day and up 3.6% in the week for its fifth straight weekly gain. US unemployment came in at 9.6% as expected with non-farm payrolls better than expected, up from -41,000 in September to +151,000 in October. The Gold price gained $16.60 to $1397.70. Oil price up $0.36 to $86.85. One Aussie dollar is now buying US101.52 cents.

Today’s main points…

  • Orica and the demerged DuluxGroup’s results were out his morning. Both are OK which is a relief for Orica shareholders considering the currency risk and the share price fall running into results. DLX say they expect further profit growth this year. ORI up 3.5%, DLX up 1.48%.
  • Galaxy Resources (GXY) has finalised its $91.5m capital raising. GXY up 0.31%.
  • Analysts are predicting another Primary Health Care (PRY) profit downgrade. Profit margins are being squeezed thanks to lower demand for its pathology services and the deregulation of blood collection centers. PRY down 2.25%.
  • QR National — The initial allocation to retail investors has fallen short of expectations. The final retail take up of the float is expected to end up around 30% when the offer closes this Friday, down from expectations of 40%. It will be priced in an institutional bookbuild with the price announced on November 22
  • Equinox Minerals (EQN) — up 48.3% this financial year — announced an operating profit of $166.4m and operating cash flow of $112.9m for the 3rdQ. Copper production increased by 37% to 38,445 tons. EQN up 1.1%.
  • The takeover panel has rejected appeals from Leighton Holdings (LEI) and its majority shareholder Hochtief to have Spain’s ACS takeover of Hochtief blocked of modified. LEI up 0.06%.
  • APN News & Media (APN) has released an investor presentation. Says 3rd Q revenue was up 5% with EBIT up 15%. Trading since June has been good and they are confident that we will see a return to more traditional trading patterns in the 2nd half of this year. APN down 0.5%.
  • A WorleyParsons (WOR)/Ausenco (AAX) JV has won a $285m Hancock coal contract. WOR up 1.12%, AAX up 5.06%.
  • ConnectEast (CEU) traffic numbers for Oct  ave. daily revenue up 9% from last year. CEU down 1.12%.
  • Westpac Bank and Macquarie Group ex dividend 74c and 86c today. NAB ex on Friday.

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