Market Wrap: ASX lifts 0.5% into 2015 trading year

Market Reports

Following negative leads from Wall Street the Australian share market opened lower but finished the first session of the year higher. Traders were lethargic after returning from the New Year public holiday but positive momentum lifted the benchmark 0.5 per cent by close. Across the sectors most advanced, led by the iron ore miners who welcomed some price relief after iron ore held ground above $US70 per tonne. 
 
Figures
 
The S&P/ASX 200 index gained 25 points today, extending the weekly rise of 41 points to end at 5,436. 
 
The value of trades was $1.45 billion on volume of 314 million shares at the close of trade. 
 
The top three stocks by value were BHP Billiton Limited (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and Fortescue Metals Group Limited (ASX:FMG)
 
On the futures market the SPI is 17 points higher. 
 
Wall Street
 
The Dow Jones Industrial Average has fallen 1.3 per cent. The S&P 500 Index has dropped 1.5 per cent. The NASDAQ has shed 1.5 per cent. The 100 Index has plunged 1.8 per cent. 
 
Company news
 
Shares in Atlas Iron Limited (ASX:AGO) rocketed on news its chief has built his stake in the company. The Pilbara focussed iron ore miner’s CEO and Managing Director Ken Brinsden was shown to have lifted his interest on New Year’s Eve. Atlas Iron’s stock sank significantly over 2014 as the price of its steel making commodity touched six-year lows. Responding to a speeding ticket today the company could only point to a recent lift in the iron ore price as an explanation for the share price spike today. Shares in Atlas Iron soared 39.39 per cent today to end the first trading day of the New Year at $0.23. 
 
Shares in Blackgold International Holdings Limited (ASX:BGG) soared after inking a deal to sell its Hong Kong subsidiary before New Year’s Eve. The China-based coal miner has struck a deal with Matex International to divest its subsidiary which holds all of its assets excluding cash. Shares in Blackgold International Holdings climbed 28.57 per cent today to end the first trading day of the New Year at $0.09.
 
Shares in TFS Corporation (ASX:TFC) lifted 5.14 per cent after the sandalwood plantation manager revealed a top US institutional investor has exercised the final two of three options to invest in TFS Indian sandalwood plantations. 
 
Shares in Beadell Resources Limited (ASX:BDR) rose 13.33 per cent despite telling the market gold sales came in 7 per cent under guidance last year. The mining company blamed the shortfall on delays at its Duckhead deposit in Brazil.
 
Best and worst performers
 
Most sectors rose into the first trading day of the year - The best performing sector was real estate investment trusts, rising 1.2 per cent to close at 1,201. The sector with the fewest gains was telco services, ending steady at 2,087 points.
 
The best performing stock in the S&P/ASX 200 was Atlas Iron Limited (ASX:AGO), soaring 39.39 per cent to close at $0.23. Shares in BC Iron Limited (ASX:BCI) and Mount Gibson Iron Limited (ASX:MGX) also closed higher.
 
The worst performing stock was Ten Network Holdings Limited (ASX:TEN), dropping 4.44 per cent to close at $0.21. Shares in Sundance Energy Australia Limited (ASX:SEA) and Sky Network Television Limited (ASX:SKT) also closed lower. 
 
Commodities 
 
Gold is buying $US1,186 an ounce, up $7.32 over the week. 
Light crude is $0.85 lower at $US53.27 a barrel. 
 
Currencies
 
The Australian dollar is buying $US0.8133. 

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