Market Wrap: ASX advances over day & week

Market Reports

The Australian share market advanced 0.6 per cent today, extending the weekly gain of 1.2 per cent. Returning from the Easter holiday traders absorbed the Reserve Bank of Australia’s decision to keep rates on hold. In the week ahead local traders will get business and consumer confidence data and the nation’s monthly jobs report. 
 
Figures
 
The S&P/ASX 200 index rose 36 points today, widening the weekly rise of 70 points to close at 5,968. 
 
The value of trades was $3.5 billion on volume of $495 million shares at the close of trade. 
 
The top three stocks by value were Rio Tinto Limited (ASX:RIO), Woolworths Limited (ASX:WOW) and BHP Billiton Limited (ASX:BHP)
 
On the futures market the SPI is 25 points higher.
 
Wall Street
 
America’s major indices have gained over the four trading days this week: The Dow Jones Industrial Average has added 1.1 per cent. The S&P 500 Index has added 1.2 per cent. The NASDAQ has added 1.8 per cent. The 100 Index has added 2 per cent. 
 
Company news
 
Qantas Airways Limited (ASX:QAN) will create a Boeing 717 heavy maintenance base in Canberra. Australia’s largest airline says the base will generate up to 40 highly skilled engineering roles in the nation’s capital. Shares in Qantas Airways lifted 0.91 per cent and closed at $3.34. 
 
Worleyparsons Limited (ASX:WOR) has won a contract from Ophir Energy to work on its Equatorial Guinea Floating Liquefied Natural Gas Development. The engineering company will also provide support to Ophir’s facilities around the world. Shares in Worleyparsons lost 0.61 per cent and closed at $9.70. 
 
Wesfarmers Limited (ASX:WES) owned Coles has been slapped with a $2.5 million penalty for making false claims over its ‘baked today’ and ‘freshly baked’ bread. 
 
Oil and gas giant Woodside Petroleum Limited (ASX:WPL) has tied up the complete $US4.5 billion purchase of oil and gas assets from US based Apache Corporation. 
 
Best and worst performers
 
The best performing sector was energy, adding 1.7 per cent to close at 11,257.
The only sector to close in the red was materials, losing 0.1 per cent to close at 9,144 points.
 
The best performing stock in the S&P/ASX 200 was G8 Education Limited (ASX:GEM), rising 5.7 per cent to close at $3.71. Shares in MMA Offshore Limited (ASX:MRM) and Greencross Limited (ASX:GXL) also closed higher.
 
The worst performing stock was Fortescue Metals Group Limited (ASX:FMG), dropping 3.97 per cent to close at $1.81. Shares in Myer Holdings Limited (ASX:MYR) and Skilled Group Limited (ASX:SKE) also closed lower. 
 
Commodities 
 
The price of gold is buying $US1,196 an ounce, down $8.03 over the week. 
 
Light crude is $0.37 higher at $US50.79 a barrel. 
 
Currencies
 
The Australian dollar is buying $0.7687, up $0.01 over the week. 

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