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Australian stocks have built on yesterday’s gains with the ASX200 rising 40.5 points or 0.8% to 5321.8 despite local GDP rising just 0.3% in the September quarter.
While the market performed well this liquefied natural gas developer drew more than its fair share of investor attention.
() rose 13.94% to $2.86 with more than 5 million shares traded today.
Yesterday the company agreed on an Engineering Procurement and Construction contract with SK Engineering and Construction Group for its Magnolia LNG export project in Louisiana.
Capital costs for the initial contracted work for two of the four planned 2Mtpa liquefaction trains is estimated at US$1.986 billion.
In addition total capital cost for the 8 million tonne per annum project remains at US$3.5 billion or US$440 per tonne.
This places the project at the very low end of capital costs on a per/tonne basis for U.S. LNG projects.
MLNG also remains on schedule for financial close in mid-2015.
Yellow Brick Road () rose 1.72% to $0.59 after reporting record mortgage settlements in October.
Mortgage settlements for October closed at $973 million a 75% increase over October 2013 (as if YBR had then owned the Vow and Resi businesses).
Closing loan book value as at 31 October 2014 was $26.5 billion which is 21% more than at the same time last year of $22 billion.
And now for the Blue Chips.
Retailers
JB Hi-FI () up 3.0% to $16.05
() up 1.6% to $41.64
Woolworths () up 2.2% to $30.09
Major miners
() up 0.1% to $30.44
() up 5.4% to $2.71
Newcrest () up 1.1% to $10.00
(ASX:RIO) up 0.1% to $57.98
Oil and Gas
Oil Search () up 2.6% to $7.372
() down 1.2% to $9.08
() up 2.2% to $35.64
Big 4 banks
ANZ Bank (ASX:ANZ) up 0.2% to $31.77
() up 0.8% to $81.40
() up 0.1% to $32.43
() up 0.3% to $32.84
Other banks financials and industrials
() down 1.1% to $5.61
() up 0.6% to $12.36
Bendigo and Adelaide Bank () up 0.5% to $12.83
() up 1.9% to $59.66
Suncorp () up 0.1% to $14.39
() up 0.2% to $5.68
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