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Article: Index gets a leg-up from strong NAB.(National Australia Bank Limited)(Brief Article)
- Article from:
- Australasian Business Intelligence
- Article date:
- May 11, 2005
- Author:
CopyrightCOPYRIGHT 2005 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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May 11, 2005 (The Australian Financial Review - ABIX via COMTEX)
The S&P/ASX 200 index closed up 0.3 per cent at 4,005.7 points on 11 May 2005. The increase has been attributed to the 2005 Australian Budget and an encouraging result from the National Australia Bank (NAB). The NAB's announcement of a 12.5 per cent drop in first-half earnings was welcomed by the market, which had anticipated a larger decline. NAB shares closed $A0.47 stronger at $A30.45. Meanwhile, dental amalgam company SDI was punished by investors after the release of a profit warning. SDI shares declined by 17 per cent to close at $A0.67. Retail stocks such as Coles Myer and David Jones ...