Market Wrap: Aus shares jump 1.5%

Market Reports

The Australian share market posted strong gains today as the slide in the oil price abated and optimism returned to energy stocks.
 
All sectors were trading higher today with energy remaining as the day’s best performer.
 
In economic news China’s CPI has stabilized at 1.5 per cent in December which has renewed talk about the need for expansionary policies in the country.
 
Attention now turns to the US with jobs data being released tonight local time. 
 
Today, the S&P/ASX 200 index closed 84 points up to finish at 5,466. 
Over the week the index gained 30 points. 
 
The value of trades was $3.96 billion on volume of 650 million shares at the close of trade. The top three stocks by value were National Australia Bank Limited (ASX:NAB), Commonwealth Bank of Australia (ASX:CBA) and BHP Billiton Limited (ASX:BHP).
 
On the futures market the SPI is 87 points up.
 
Looking at Wall Street, US major indexes have gained over the four trading days this week: The Dow Jones Industrial Average has added 0.4 per cent. The S&P 500 Index has added 0.2 per cent. The NASDAQ has added 0.2 per cent. The 100 Index has added 0.2 per cent. 
 
Company news 
 
Shares in Altium Limited (ASX:ALU) have dropped today despite showing revenue is up 17 per cent for the first six months of the financial year with sales rising 8 per cent compared to the same period last year. Second quarter also saw revenues rise 17 per cent to $25 million which converts to a rise of 23 per cent on a constant currency basis in US dollar terms with sales up by 6 per cent. Altium closed 8.08 per cent down at $3.07.
 
Shares in Prophecy International Holdings Limited (ASX:PRO) closed higher after announcing positive preliminary financial results for the first half of the financial year. The software company says sales are up 85 per cent and that operating profit is expected to be at record levels for the first half. Shares in Prophecy are trading up 13.33 per cent at $0.51
 
Qantas Airways Limited (ASX:QAN) has appointed marketing guru Todd Sampson as non-executive director to the board.
 
BHP Billiton (ASX:BHP) has donated a quarter of a million dollars from its community charity fund to the Sampson Flat Bushfire relief fund in South Australia.
 
Best and worst performers

All sectors closed higher today. The best performing sector was energy adding 3.3 per cent to close at 11,221. The sector with the least gains was utilities, gaining 0.7 per cent to close at 6,066 points.
 
The best performing stock in the S&P/ASX 200 was Sundance Energy Australia Limited (ASX:SEA), rising 6.38 per cent to close at $0.50 Shares in Western Areas Limited (ASX:WSA) and Sirius Resources (ASX:SIR) also closed higher.
 
The worst performing stock was Atlas Iron Limited (ASX:AGO), dropping 3.64 per cent to close at $0.27. Shares in Horizon Oil Limited (ASX:HZN) and Echo Entertainment Group Limited (ASX:EGP) also closed lower.
 
Commodities

The price of gold is trading at $US1,212 an ounce, and is up $US26.49 over the week.
Light crude is $0.20 higher at $US49.28 a barrel.
The Australian dollar is buying $0.8141 and is $0.0008 higher over the week.

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