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Fixed Interest
Close Points
Currency Close Points
All Ordinaries 5771 -34 -0.59 $A vs $US 0.7897 -0.0050 -0.63
S&P/ASX 200 5723 -39 -0.67 $A vs GBP 0.6080 -0.0049 -0.80
10-year Bond Rate 2.70 -0.04 -1.46 $A vs YEN 88.29 -0.62 -0.70
  $A vs EUR 0.6770 -0.0064 -0.93
  $A vs $NZ 1.0630 -0.0105 -0.98
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ASX Code Company Name Impact Recommendation
ANN Ansell Limited (ANN)
BRG Breville Group Limited (BRG)
BHP BHP Billiton Limited (BHP)
MGX Mount Gibson Iron Limited (MGX)
STO Santos Limited (STO)
WSA Western Areas Limited (WSA)

Friday 21 July - The local market opened sharply lower today following mixed results from Wall Street overnight. The negativity continued throughout the day as investors remained cautious following the RBA's deputy governor Guy Debelle's warning about reading too much into the board's discussion. There were mixed results from the sectors; consumer discretionary gained most significantly while materials were the biggest laggard. The Australian dollar fell against most major currencies.

The All Ordinaries slipped 34.50 points (-0.59%) to 5,771.20 while the S&P/ASX 200 declined 38.70 points (-0.67%) to 5,722.80.

AusNet Services (AST)

AusNet Services provided GAAR draft acceptance and appeals update. Following receipt of the AER's Draft Decision for the 2018-22 Gas Access Arrangement Review published on 6 July 2017, the Company has advised the AER that it will accept the Draft Decision. The Draft Decision determined total revenues of $1,045m over the 5 year period. It approved capital expenditure in line with current levels and a 4% real increase in operating expenditure compared to the current access arrangement period. The Company considers that the decision will enable it to provide safe, reliable and efficient gas distribution services over the next access arrangement period. It also provides stable customer prices. AST fell 2 cents (-0.88%) to $1.68.

Primary Health Care (PRY)

Primary Health Care provided FY 2017 guidance and non-cash impairment. It confirms guidance for FY 2017 at the lower end of its previous range and broadly in line with consensus, at $92m underlying NPAT. It expects to book a non-cash impairment charge of $575m. The impairment relates primarily to Medical Centres goodwill and underperforming sites, including the ex-Symbion sites. Importantly, the impairment is a non-cash balance sheet adjustment and has no impact on banking covenants. PRY added 3 cents (0.83%) to $3.63.

The NZX 50 fell 1.58 points (-0.02%) to 7,670.86 while the Nikkei dropped 44.84 points (-0.22%) to close at 20,099.75

The Australian dollar was last quoted at 78.97 US cents.

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