Week in review

From the Trading Desk

The RBA keeps rates on hold, Greece defers IMF payments, the yield curve continues to steepen, Adani Abbott Point goes retail, McPherson’s cuts its profit forecast and PAYCE exits a joint venture and sells development rights

Week in review

From the Trading Desk

US Federal Reserve minutes, S&P comments on Australia’s AAA rating, an agreement is reached to extend Greece’s loan arrangements and we provide a wrap up of the results season. Companies covered include: Dampier Bunbury Natural Gas Pipeline, IAG, PAYCE, QBE, Silver Chef, Swiss Re and Virgin Airways

Company updates

PAYCE - 1H15 results snapshot

PAYCE reported NPAT of $121m for 1H15 following the sale of the Hurstville, East Village and Platinum properties/projects in the half year which is in line with expectations set out in our last update on 20 January

Company updates

Payce says key East Village project is on track

The East Village residential apartments are now expected to be completed and settled by the end of September 2014, only one month later than initially planned. It is 100% pre-sold and given the current strength of the Sydney apartment market all units are expected to settle. FY14 NPAT of $1.6m was in line with expectations ( $19.0m in FY13)

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