The Australian share market made some solid gains by lunchtime today but fortunes reversed in the afternoon and the local bourse closed flat. NAB’s monthly business survey for February today showed confidence dropped in the period and the pessimism pared the morning’s gains.
The Aussie dollar sunk lower today ending at $US0.7652
The S&P/ASX 200 index closed 3 points up to finish at 5,824.
The value of trades was $4.8 billion on volume of 784 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 Woolworths Limited
(ASX:WOW).
On the futures market the SPI is 6 points down.
Company news
Finbar Group Limited
(ASX:FRI) says its Aurelia Project in South Perth achieved $66 million in sales on opening weekend. The West Australian focussed property developer scored development approval for the JV project at the end of last year and plans to start construction in June. Finbar closed 1.92 per cent down at $1.28
Bathurst Resources Limited
(ASX:BRL) will purchase New Brighton Collieries Limited, the holder of the New Brighton permit, under amended terms. The New Brighton permit lies adjacent to Bathurst’s Takitimu mine in Southland and is prospective for high quality sub-bituminous coal. Shares in Bathurst closed 7.89 per cent up at $0.04
TNG Limited
(ASX:TNG) has signed a long term off-take agreement with a leading Korean Metals Group called WOOJIN.
Sino Gas & Energy Holdings Limited
(ASX:SEH) has executed a gas sale agreement for the sale of gas from Linxing Gas Station.
Magnis Resources Limited
(ASX:MNS) has progressed its Nachu graphite project with its environmental study due for completion in June.
Perpetual Limited
(ASX:PPT) will award $460,000 in funds to young Australian artists through the 2015 Marten Bequest Travelling Scholarships.
Best and worst performers
The best performing sector was telco services adding 0.9 per cent to close at 2,168. The worst performing sector was consumer discretionary, losing 1 per cent to close at 1,955 points.
The best performing stock in the S&P/ASX 200 was Sundance Energy Australia Limited
(ASX:SEA), rising 6.93 per cent to close at $0.54. Shares in Kathmandu Holdings Limited
(ASX:KMD) and Sirtex Medical Limited
(ASX:SRX) also closed higher.
The worst performing stock was Monadelphous Group Limited
(ASX:MND), dropping 10.02 per cent to close at $8.80. Shares in BC Iron Limited
(ASX:BCI) and Horizon Oil Limited
(ASX:HZN) also closed lower.
Commodities
Gold is trading at $US1,162 an ounce.
Light crude is $0.39 up at $US50.00 a barrel.
The Australian dollar is buying $US0.7652
