The market is up 28 points.

The Dow Jones was up 193 points

Markets rose after testimony from Janet Yellen to the House of Representatives, where the new Fed Chair reassured markets that the Fed would provide continuing support for markets. Yellen didn’t really say anything new, and that was perhaps the most comforting thing — relief about continuity under her leadership. Another positive factor was Republicans talking about a clean bill to raise the debt ceiling, where leaders announced they will advance an increase in the government’s borrowing limit for 12 months without any additional measures attached.

The S&P rose 20 points to 1820.

Oil was down 0.16% at US$99.90.

Gold rose US$15.80 to US$1290.50 per ounce.

The US$ was mixed against most major currencies. The Australian dollar was stronger and is currently trading at US90.37c.

STORIES
  • CBA — Solid first half profit result — Cash profit of $4.27 billion up 14% and above an expected $4.123 billion. Interim dividend of 183c up 12%.
  • Boral (BLD) — First half profit of $90.4 million up 73% which was slightly above a consensus forecast of $90.25 million.
  • Goodman Fielder (GFF)  — first half net loss of $64.8 million. The loss was due to impairment charges of $94.9 million. Underlying profit was $30.1 million which was slightly below an expected profit of $31.48m. First half dividend of 1c. They expect significant earnings improvement in the second half.
  • Primary Health Care (PRY) — Interim profit up 8.6% to $75.5 million which was in line with expectations at the lower end of guidance. The result included a $3 million non-cash after-tax charge. Underlying profit was $78.5 million. Dividend of 9c up from 6.5c.
  • OZ Minerals (OZL) — Net loss of $294.4 million. Underlying Net Loss of $62.5 million which was in line with an expected loss of $60.72 million. Underlying EBITDA of $115.8 million and Revenue of $644 million. 2013 production at 73,362 tonnes of copper and 128,045 ounces of gold with C1 cash costs at US179.6c / lb. Interim dividend of 10c. Cash at year end was $364 million. The company will also start succession planning for a CEO change in next 12 months.
  • Slater and Gordon (SGH) — Profit up 21.1% to $23 million. Total revenue up 22.3% to $178 million. Solid result with company on track to achieve full year guidance. Interim dividend of 3c up 9.1%.
  • Dexus (DXS) — Funds from operations was up 6% to $189.8 million. Statutory profit was up 3.8% to $277.2 million. Distribution per security up by 6.2% to 3.07c per security.
  • CRZ — Net profit was $44 million up 17% which was better than an expected $41.7 million. Operating revenue of $112.3 million up 10%. Fully franked interim dividend of 14.7c up from 12.7c.
  • Dominos Pizza (DMP) — Underlying profit up 38.8% to $20.2 million which was in line with an expected $22.2 million. Interim dividend of 17.7c up 14.2%. The company said they will continue to invest in technology by introducing a number of new offerings by Aug 2013 which will drive significant online sales growth. Guidance update; EBITDA in ANZ/Europe of +15% and Japan +25%.