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ASX Market Report

Fixed Interest
Close Points
Currency Close Points
All Ordinaries 5751 -10 -0.18 $A vs $US 0.7668 0.0026 0.34
S&P/ASX 200 5705 -7 -0.13 $A vs GBP 0.6196 0.0023 0.38
10-year Bond Rate 2.83 -- -- $A vs YEN 86.98 0.58 0.68
  $A vs EUR 0.7263 0.0034 0.48
  $A vs $NZ 1.0728 0.0074 0.69
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ASX Code Company Name Impact Recommendation
ALL Aristocrat Leisure Limited (ALL)
CAB Cabcharge Australia Limited (CAB)
CWY Cleanaway Waste Management Limited (CWY)
MSB Mesoblast Limited (MSB)
SGH Slater & Gordon Limited (SGH)
TOX Tox Free Solutions Limited (TOX)
QBE QBE Insurance Group Limited (QBE)
LLC LendLease Group (LLC)
SKI Spark Infrastructure Group (SKI)

Wednesday 1 March - The Australian market ended slightly lower after a choppy session. Local stocks fluctuated below the red line during the trading day, as gains from the big banks were weighed down by index heavyweights Telstra and Crown Resorts since they traded ex-dividend. There were mixed results from the sectors; utilities gained most significantly while energy was the biggest laggard. The Australian dollar appreciated against most major currencies.

The All Ordinaries lost 10.10 points (-0.18%) to 5,750.90 while the S&P/ASX 200 fell 7.40 points (-0.13%) to 5,704.80.

AWE Limited (AWE)

AWE announced that it has completed the sale of its 57.5% interest in the Tui Area Oil Fields to Tamarind Management Sdn Bhd (Tamarind) for cash consideration of US$1.5m before tax. Tamarind has acquired all of the outstanding shares of AWE New Zealand and AWE Taranaki, which together own 57.5% of Tui. The sale includes Operatorship, assets and inventory, and a working capital cash balance of US$10.8m. The Company estimates a completion payment to Tamarind of US$2.2m for purchase price adjustments. These adjustments include the close out of unutilised Brent oil price hedges. The sale of Tui is estimated to generate a non-cash profit after tax of A$27m (unaudited), after purchase price adjustments, and has reduced its provisions for future abandonment liabilities by A$67m. AWE rose 1.5 cents (3.13%) to $0.495.

Caltex Australia (CTX)

Caltex Australia advised its realised lagged Caltex Refiner Margin (CRM), in respect of CRM sales from production for the month of January 2017. The January 2017 unlagged CRM was US$12.08/bbl. The unlagged Caltex Singapore Weighted Average Margin was US$12.82/bbl, above the prior month (December 2016: US$11.98/bbl) but below the prior year (January 2016: US$13.47/bbl). The higher AUD/USD exchange rate in week starting from 30 January 2017 drove a favourable US$0.35/bbl pricing lag (December 2016 unfavourable pricing lag: US$(1.36)/bbl). Sales from production in January 2017 of 501 ML were below the prior month (December 2016: 524 ML) but above the prior year comparative (January 2016: 494 ML). CTX added 14 cents (0.50%) to $28.28.

The NZX fell 18.68 points (-0.26%) to 7,148.78 while the Nikkei gained 274.55 points (1.44%) to close at 19,393.54.

The Australian dollar was last quoted at 76.68 US cents.

Companies commencing Ex-Dividend Trading Today (ASX 300):

Alumina Limited

Crown Resorts Limited

Event Hospitality and Entertainment Ltd

Perpetual Limited

Platinum Asset Management Limited

Telstra Corporation Limited

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