Australia’s ALL ORDINARIES (INDEXASX: XAO)(ASX: XAO) index climbed 0.2% on Thursday, thanks in part to a rise in the National Australia Bank Ltd. (ASX: NAB) share price.
All Ordinaries: up 0.2% at 5,995 points
ASX 200: up 0.2% at 5,891 points
The ASX continued its rebound after a few days of steep sell-offs earlier in the week. On Tuesday, the All Ordinaries fell 3%.
Biggest Gainers
- AMP Limited (ASX: AMP) – up 3.6%
- National Australia Bank Ltd. – up 2.3%
- SG Fleet Group Ltd (ASX: SGF) – up 9%
- Blackmores Limited (ASX: BKL) – up 6.5%
Biggest Losers
- Tabcorp Holdings Limited (ASX: TAH) – down 6.8%
- Origin Energy Ltd (ASX: ORG) – down 2%
- AGL Energy Ltd (ASX: AGL) – down 2%
Amongst the Big Four banks, National Australia Bank Ltd. was the best-performing on Thursday. Earlier today, NAB released its first-quarter trading update revealing a $1.65 billion cash profit for the period, up 3%.
“The acceleration of our strategy is well underway and we are pleased with early progress,” NAB CEO Andrew Thorburn, said. “We are on track to deliver the targets announced with the FY17 results, including an estimated $1.5 billion increase in investment by the end FY20.”
AMP shares bounced more than 3% following the release of its 2017 financial results. AMP reported a 114% increase in full-year profit on an underlying basis thanks to a big swing in performance from its Australian Wealth Protection business.
Despite announcing a 9% rise in its half-year revenue and news that it will pay an interim dividend of 11 cents per share, Tabcorp was amongst the ASX’s worst performers on Thursday.
AGL Energy lost steam after reporting a 7% rise in its half-year revenue and a profit of $622 million.
Finally, Origin Energy announced to the ASX that it will incur $533 million in impairment charges.
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