Markets Live: Domino’s delivers

It’s not the first time we’re hearing resignation plans: late last year Zahra announced his decision to step down ”for personal reasons”, but he backflipped earlier this year. 9:18am: Also just out, Wotif has reported a 15. 4 per cent fall in profit to $43. 2 million, in line with its latest guidance, as it awaits regulatory approval for an agreed $703 million takeover by US online travel giant Expedia. “The decline in profit last financial year is directly attributable to the response by the company to the competition in its Australian market, and an investment in strategy designed to introduce the new sources of revenue,” Wotif chairman Dick McIlwain said.

Kurdistan has seen a surge of interest from international oil companies over the past several years, attracted by estimates it holds some 40 billion barrels of oil and 60 trillion cubic feet of gas. 11:00am: Asian markets are opening higher, following Wall Street‘s rise overnight and amid optimism that geopolitical risks are receding. The Nikkei us up 0. 3 per cent, adding to yesterday’s strong rally, while Seoul’s Kospi has added 0. 7 per cent and in New Zealand the NZX50 is up 0. 1 per cent. ‘‘You had a quiet day in the US last night and it looks like some of the geopolitical concerns are easing,’’ said Nader Naeimi, head of dynamic asset allocation at AMP Capital Investors. ‘‘Overall it will be a good day, we should see stabilisation in the equity market and markets should be able to gain some of the lost ground. 10:44am: Slater & Gordon is one of the big winners this morning, up more than 6 per cent at $5. 23 after the expanding firm beat guidance and announced two acquisitions.

In its first full year of owning a controlling 75 per cent interest in the Domino’s pizza chain in Japan, the Australian based company this morning reported a 50. 4 per cent lift in underlying net profit to $45. 8 million as revenue nearly doubled - thanks to the acquisition of the Japanese franchise - to $588. 7 million for 2013-14.

The company declared a final fully franked dividend of 19 cents per share, in addition to the interim dividend of 17. 7 cents per share paid earlier this year, bringing the full year payout to 36. 7 cents per share an increase of 18. 8 per cent over the prior year. 9:03am: Local shares are set to open higher for a second session as global equities extended gains on corporate news and an easing of some geopolitical concerns. 9:03am: Good morning and welcome to the Markets Live blog for Tuesday.

Read more here: SMH


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