The Australian share market saw some volatility today but it managed to stay in positive territory to finish 0.2 per cent higher. The 6,000 point mark wasn’t breached and it was the mining sector which ended as the day’s best performer.
Weakness came from the HSBC China flash PMI read for March which showed a slowdown to 49.2 points on the index. The news pulled the Aussie dollar from a recent high to finish at $US0.7861
The S&P/ASX 200 index closed 13 points up to finish at 5,969.
The value of trades was $4.2 billion on volume of 753 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 National Australia Bank Limited
(ASX:NAB).
On the futures market the SPI is 11 points up.
Company news
Shares in Kathmandu Holdings Limited (ASX:KMD, NZX:KMD) slumped today as it booked an interim loss after suffering subdued sales over Christmas and January. The outdoor clothing retailer swung to a net loss of about $AUD1.75 million in the six months to the end of January from a profit of about $AUD11 million the year before. Kathmandu closed 12.42 per cent down at $1.38
Meanwhile shares in TPG Telecom Limited
(ASX:TPM) pushed higher as it boosted its annual earnings forecast after reporting interim profit growth. The telco’s net profit rose 18 per cent to $106.7 million in the first half of the 2015 financial year while revenue rose 59 per cent to $627 million. Shares in TPG closed 3.51 per cent up at $9.14.
Freelancer Limited
(ASX:FLN) saw losses today after it announced its second acquisition this month in a bid to accelerate its global expansion.
Queensland based New Hope Corporation Limited
(ASX:NHC) has suffered an interim loss after it was forced to write down the value of its oil and gas assets.
Biotechnology company Actinogen Limited
(ASX:ACW) has seen its share price lift as it announces positive results from a trial of an alzheimers drug.
Perpetual Limited
(ASX:PPT) has appointed Mr Ian Hammond to the company’s board having recently retired as a partner at Price Waterhouse Coopers.
Best and worst performers
The best performing sector was materials adding 0.6 per cent to close at 9,324. The worst performing sector was financials excluding REITs, losing 0.1 per cent to close at 8,341 points.
The best performing stock in the S&P/ASX 200 was Arrium Limited
(ASX:ARI), rising 20 per cent to close at $0.21. Shares in Drillsearch Energy Limited
(ASX:DLS) and Spotless Group Holdings Limited
(ASX:SPO) also closed higher.
The worst performing stock was Kathmandu Holdings Limited
(ASX:KMD), dropping 12.42 per cent to close at $1.38. Shares in Monadelphous Group Limited
(ASX:MND) and Liquefied Natural Gas Limited
(ASX:LNG) also closed lower.
Commodities
Gold is trading at $US1,187 an ounce.
Light crude is $0.88 up at $US47.45 a barrel.
The Australian dollar is buying $US0.7861
