\n\tBy Stephen Hogan, Senior Private Client Adviser, Equities\/Derivatives<\/p>\n
\tAustralian Market<\/strong><\/p>\n \tThe Australian market (XJO<\/span>) closed up 4 points or 0.08% to 4974.7 today. Our market moved both ways over the day with a high of 4993 and a low of 4960.3 to finish flat. Overnight U.S. markets closed higher, with consumer confidence data reaching its highest level since 2008. The Dow Jones rose 106.29 points or 0.69% to 15,409.40, hitting a fresh record high once again, and the S&P 500 gained 10.46 points or 0.63% to 1,669.16. Some more data released was house prices rising in the 12 months through March by the most in seven years as the recovery in residential real estate gained momentum. The S&P\/Case-Shiller<\/span> index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February. In Europe markets closed higher. The FTSE 100 rose 107.67 points or 1.62% to 6,762.01 and the DAX rose 97.57 points or 1.16% to 8,480.87.<\/p>\n \n\tAn economic data release today of construction work done showed number fell 2% in the March quarter, missing expectations of 2% growth. Total building work done in the March quarter, including homes and non-residential buildings like offices and shops, fell 1.1% from the December quarter. Engineering work done, including mines, roads and bridges, was down 2.5% in the quarter.<\/p>\n \n\tThe ANZ<\/span> bank is set to spend $425 million buying back some of its shares. ANZ's<\/span> dividend reinvestment plan and bonus option plan offered after its half year results in April allowed shareholders to take up new shares rather than receive a cash dividend. ANZ's<\/span> buyback will begin no earlier than June 2013.<\/p>\n \n\tThe gaming machine supplier Aristocrat Leisure Limited (ALL) has increased its dividend amount to of 7 cents a share on June 28, previously 4 cents, after its first half profit grew by 11 per cent. Aristocrat made a net profit of $52.6 million in the six months to March 31. Chief executive Jamie Odell said Aristocrat's full year net profit is expected to be higher than the previous year's $91.7 million. The company plans to return more money to shareholders, as they lift the payout ratio to 80% of net profits up from 60%.<\/p>\n \n\tAUD is currently trading at $0.9538, down $0.0076 against the USD. The Aussie dollar hit 19 month lows in trade last night.<\/p>\n \tTop Performers<\/strong><\/p>\n \tTen Network Holdings Limited ((TEN)) up $0.027 or 10.38% to $0.287<\/p>\n \n\tBoart<\/span> Longyear<\/span> Limited ((BLY<\/span>)) up $0.055 or 9.02% to $0.665<\/p>\n \n\tWestern Areas Limited ((WSA<\/span>)) up $0.20 or 7.30% to $2.94<\/p>\n \n\tAristocrat Leisure Limited ((ALL)) up $0.28 or 6.91% to $4.33<\/p>\n \n\tPanaust<\/span> Limited ((PNA<\/span>)) up $0.145 or 6.47% to $2.385 \tMirabela<\/span> Nickel Limited ((MBN<\/span>)) down -$0.023 or -11.79% to $0.172<\/p>\n \tCoalspur<\/span> Mines Limited ((CPL<\/span>)) down -$0.035 or -11.67% to $0.265<\/p>\n \tCabcharge<\/span> Australia Limited ((CAB)) down -$0.21 or -5.06% to $3.94<\/p>\n \tSilver Lake Resources Limited ((SLR<\/span>)) down -$0.03 or -3.75% to $0.77<\/p>\n \tSeek Limited ((SEK<\/span>)) down -$0.37 or -3.52% to $10.13<\/p>\n \tOur Comments<\/strong><\/p>\n \n\tVery encouraged by BHP Billiton ((BHP)) price action today, thought there may be more downside but I think we have seen a low in that stock now. A bounce to $39 should take place.<\/p>\n \n\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.) \n\tRe-published with permission. Views expressed are not by association FNArena's<\/span> (see our disclaimer).<\/em><\/p>\n
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\n\tBottom Performers<\/strong><\/p>\n
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