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Business Description: BlueScope Steel Limited (BSL) is a flat steel producer and supplier of steel products and solutions focused on the global building and construction markets. It operates in four main geographical regions being Australia, New Zealand, Asia and North America.
Strategy Analysis: BlueScope‚Äôs strategy is to grow shareholder value by growing its global building solutions segment, develop a leading position in painted and coated steel in the Asia-Pacific region, improve profitability in manufacturing and distribution operations in Australia and New Zealand and maintain profitability of its Hot Rolled Products North America assets while exploring potential growth options.
BlueScope Steel reported a net loss of $12m for the half-year ended 31 December 2012, compared to a net loss of $530m for 1H FY2012, primarily reflecting the operational benefit of Australian restructure with lower loss-making export despatch tonnes, and lower restructure, redundancy and tax impairment charges in the current half. Revenues from ordinary activities were $3.7bn, down 17% from the same period last year, primarily due to lower sales volume arising from the 2011 restructure to reduce loss making export sales. Diluted EPS was (2.2) cents compared to (160.4) cents last year. The net operating cash inflow was $44m compared to an outflow of $151m in the pcp. No dividend was declared.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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