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Australia Stock Movers: Atlas, AWE, FKP, Miclyn, Ramsay

By Sarah Gill - Feb 26, 2013

S&P/ASX 200 Index -1% at close, with all industry groups falling led by information tech and consumer staples worst. New Zealand’s NZX 50 +0.3%.

Advancers: * FKP Property +6.1%; underlying profit after tax A$23.6m vs A$16.9m yr ago * Kingsgate +3.7%; raised to sector perform from underperform at RBC Capital Markets; PT A$4 * Ramsay Health +1%; Raises FY profit forecast

Decliners: * Miclyn Express -7%; 1H rev. A$128m; 1H earnings lower than expected on vessel delivery delays, downtime on some high value assets; continues to face earnings challenges in 2H * Transfield -5.9%; 1H loss A$246.9m * Virgin Australia -5.8%; 1H pre-tax ex-items profit misses est. * AWE -4%; Sees FY production at lower end of forecast * Iron ore swaps rebounding on speculation cyclone will disrupt shipments from Australia: Arrium -4%; Gindalbie -3.9%; Fortescue -3%; Mount Gibson -2.5% * Atlas Iron -3.4%; 1H net A$256m, hurt by previously announced A$258 non-cash impairment * Flight Centre -2.5%; posted 1H earnings; cut to hold by Moelis & Co. * QBE Insurance -2.2%; FY profit misses est; CFO to retire * M2 Telecom -2.2%; Cut to underperform from neutral at CIMB; PT A$3.75 * Chorus -1.7%; Wellington-listed stk cut to underweight from neutral at JPMorgan, PT NZ$2.87

To contact the reporter on this story: Sarah Gill in Sydney at sgill23@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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