From Santos to Breville: Five stocks that dominated ASX today

Highlights

  • Shares of energy major Santos dropped nearly 2% despite reporting robust earnings.
  • Westpac shares declined as much as 1.8% after the lender reported a weaker margin in Q3 FY21.
  • Kitchen appliance maker Breville Group tumbled nearly 9% and topped the ASX loser chart.
  • Charter Hall Retail REIT’s shares dropped 4.2% post earnings’ announcement.
  • Monadelphous’ shares gained on securing new contracts.

The Australian share market extended losing streak for the second day on Tuesday, with benchmark index, the ASX 200, declining as much as 0.8%. The market sentiment was dented by mixed corporate earnings and a rise in COVID-19 cases. Ten of the 11 sectors were trading lower, while blue-chip bank, energy and mining stocks declined the most. Among individual stocks, global kitchen appliance maker Breville Group declined the most, while general insurance broker Steadfast Group emerged as the top gainer.

                         

Why did ASX Blue chips register worst day in two months today?

 

Here are five stocks that dominated trading on the ASX today.

Santos’ H1 net profit surges, revenue jumps 22%

Shares of Australia’s biggest gas supplier Santos (ASX:STO) dropped nearly 2% to AU$6.09 despite reporting robust earnings.

The company reported a profit of US$354 million during the first half, compared to a loss of US$289 million a year ago. Revenue rose 22% to US$2.04 billion as against US$1.66 billion in the same period last year. The company also declared an interim dividend of 5.5 US cents per share, 162% higher than 2.1 US cents announced a year ago.

Santos said that the earnings were driven by higher realised oil and gas prices, and increased sales volume.

Westpac flags weaker margins, mulls share buyback

Shares of Westpac Banking Corporation (ASX:WBC) declined as much as 1.8% to hit an intraday low of AU$25.33 after the lender issued a business update for the June quarter.

For the third quarter ended June, the bank reported the CET1 (Common Equity Tier 1) ratio of 12%, down from 12.3% in March 2021. The bank pointed to dividend payment and higher risk-weighted assets, which are up AU$8.5 billion to 2% from the March quarter, driving the fall in its CET1 ratio. Common Equity Tier 1 is the core measure of a bank's financial strength from a regulator's point of view.

Australia’s second-largest bank also indicated a return of capital to shareholders following buybacks and dividend announcement by its big four competitors.

Breville’s profit rises 42%, revenue crosses AU$1B mark

Shares of Breville Group (ASX: BRG) tumbled 8.8% to AU$30.4 after the company released an earnings report for the financial year 2021.

The global kitchen appliance maker reported a 42.3% growth in full-year net profit to AU$91 million, boosted by strong demand for coffee makers and mixers from people spending more time at home. Revenue surged over the AU$1-billion mark for the first time, jumping 24.7% to AU$1.19 billion. Despite strong earnings, the company cut its final dividend for FY21 by 35.4% to 26.5 cents per share, compared to 41 cents declared in the last fiscal.

In a separate development, Tim Antonie, a veteran M&A banker, will take on the chairmanship of Breville after its chairman Steven Fisher said he would not seek re-election after the November AGM.

Charter Hall Retail REIT lowers distribution for FY21

Shares of Charter Hall Retail REIT (ASX: CQR) dropped 4.2% to AU$3.65 post its earnings numbers. Australia's leading property group reported robust growth in its profit, but it has lowered its distribution.

For FY21, statutory profit increased to AU$291.2 million, while operating earnings rose by 9.5% to AU$156.2 million. The Trust reported distribution of 23.4 cents per unit, down 4.6% compared to the last fiscal.

Monadelphous secures new contracts

The share price of Monadelphous (ASX: MND) gained over 2% to AU$11.35 after the company secured new contracts.

The engineering company has bagged new construction and maintenance contracts in the resources and energy sectors valued at around AU$200 million. Monadelphous’ fabrication business, SinoStruct, has won a new four-year agreement to supply well site equipment to Origin Energy.

Besides, the company has been awarded a new three-year contract with Queensland Alumina to continue providing general mechanical maintenance services at its operations in Gladstone.

It has also secured a 10-month extension to its existing contract with BHP Mitsubishi Alliance for the provision of dragline shutdown and maintenance services to its operations in the Bowen Basin.

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