The Australian share market maintained its upward trajectory today and closed just shy of 1 per cent higher.
Jobs growth number from the ABS showed a decline in unemployment to 6.3 per cent which drove optimism with the major banks all making gains today, while the miners faced a further selloff.
The S&P/ASX 200 index closed 57 points up to finish at 5,850.
The value of trades was $5 billion on volume of 806 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 Telstra Corporation Limited
(ASX:TLS).
On the futures market the SPI is 58 points up.
Company news
Shares in Whitehaven Coal Limited
(ASX:WHC) closed higher today as it secured $1.4 billion in refinancing. The new senior secured bank facility has been provided by a syndicate of Australian and international banks, subject to conditions being met. Whitehaven closed 2.89 per cent up at $1.60.
Australia’s biggest telecommunication company Telstra Corporation Limited
(ASX:TLS) has expanded its network reach across the Middle East. Telstra has launched a new point of presence in datamena, an open and neutral data centre and connectivity platform in the United Arab Emirates. Shares in Telstra closed 1.13 per cent up at $6.29.
Animoca Brands Corporation Limited
(ASX:AB1) has achieved a record number of monthly active users during February with 9.7 million players.
Decmil Group Limited
(ASX:DCG) has scored $40 million of extra work at Gina Rinehart’s $10 billion Roy Hill Iron Ore Project in the Pilbara region of Western Australia.
Shares in Pharmaxis Limited
(ASX:PXS) have jumped today on news it’s signed an options agreement with Boehringer Ingelheim for the distribution of an SSAO inhibitor.
Mineral explorer Nemex Resources Limited
(ASX:NXR) has exercised its option to acquire a further 10 per cent interest in Wavefront Biometric Technologies.
Best and worst performers
The best performing sector was financials excluding REITS adding 1.5 per cent to close at 8,110. The worst performing sector was utilities, losing 0.4 per cent to close at 6,543 points.
The best performing stock in the S&P/ASX 200 was Transfield Services Limited
(ASX:TSE), rising 8.43 per cent to close at $1.42. Shares in Paladin Energy Limited
(ASX:PDN) and Liquefied Natural Gas Limited
(ASX:LNG) also closed higher.
The worst performing stock was PanAust Limited
(ASX:PNA), dropping 4.6 per cent to close at $1.14. Shares in Beadell Resources Limited
(ASX:BDR) and Fairfax Media Limited
(ASX:FXJ) also closed lower.
Commodities
Gold is trading at $US1,155 an ounce. Light crude is $0.05 down at $US50.02 a barrel.
The Australian dollar is buying $US0.7602.
