Following positive offshore leads, the Australian share market jumped at open but began to retreat in afternoon trade before finishing slightly higher.
Today, the S&P/ASX 200 index closed 2 points up to finish at 4,045. On the futures market, the SPI is currently 7 points up.
Economic news
The Australian Bureau of Statistics has revealed job vacancies data for May has dropped by 5.3 per cent .The total number of vacancies in the May quarter was 172,500 compared to 182,100 in the February quarter.
Company news
An independent revaluation of 19 of CFS Retail Property Trust’s (ASX:CFX) assets has boosted their value by 1.3 per cent to about $55.9 million. CFS’ fund manager says transactional activity continues to demonstrate strong investor demand for quality shopping centres. Shares in CFS Retail closed 0.52 per cent down at $1.92.
Chandler Macleod Group Limited's (ASX:CMG) CEO Ian Basser will be stepping down effective immediately and will be replaced by current chief operating officer Cameron Judson, who will join the board from July 2. Mr Basser has been with the group for five years. Shares in Chandler Macleod last traded at $0.42.
Discovery Metals Limited (ASX:DML) Boseto copper project in Botswana, has produced about 500 tonnes of copper silver concentrate and 560 grams per tonne of silver.
Online travel company Webjet Limited (ASX:WEB) will invest $1.5 million in a new hotel focused venture to be based in Dubai know as Lots of Hotels.
Santos Limited (ASX:STO) has given a boost to its GLNG liquefied natural gas project, extending its budget by $US2.5 billion.
Metcash Limited (ASX:MTS) says it will raise $325 million geared towards acquisitions and capital expenditure after it revealed a 63 per cent fall in its full year net profit. The grocery wholesaler also announced it will acquire 75.1 per cent of privately owned Automotive Brands Group for $53.8 million.
Best and worst performers
The best performing sector was Consumer Discretionary adding 10 points to close at 1,221.
The worst performing sector was Energy, losing 211 to close at 11,714 points.
The best performing stock in the S&PASX 200 was Macmahon Holdings Limited (ASX:MAH) rising 6.73 per cent to close at $0.56. Shares in Gindalbie Metals and Virgin Australia also closed higher.
The worst performing stock was Mirabela Nickel Limited (ASX:MBN) dropping 6 per cent to close at $0.24. Shares in Santos and Boral also closed lower.
Commodities
Gold is trading at $US1,577 an ounce.
Light crude is $0.85 up at $US80.21 a barrel.
The Australian dollar
The Australian dollar is buying $US1.012.