The local market looked set to recover some of the week’s losses today but the afternoon saw a late selloff and the market closed 0.2 per cent lower. Over the week the ASX tumbled 180 points.
Poor trade figures from China was a drag with both the country’s exports and its imports falling more than analysts expected.
Meanwhile in the UK exit polls suggest the conservative party will hold onto power and the pound has been bounding higher ever since, 1 pound currently buys around $US1.55.
Today, the S&P/ASX 200 index closed 11 points down to finish at 5,635.
The value of trades was $4.9 billion on volume of 655 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), ANZ Banking Group
(ASX:ANZ) and Commonwealth Bank of Australia
(ASX:CBA).
On the futures market the SPI is 14 points down.
Looking at Wall Street, US major indexes have fallen over the four trading days this week: The Dow Jones Industrial Average has lost 0.6 per cent. The S&P 500 Index has lost 1.3 per cent. The NASDAQ is down 1.44 per cent. The 100 Index has given up 1.8 per cent.
Company news
Shares in Macquarie Group Limited
(ASX:MQG) have pushed higher as it increases its annual profit and flags an improved result for the year ahead. Australia’s largest listed investment bank boosted its net profit by 27 per cent to $1.6 billion in the year to the end of March. Shares in MQG closed 3.5 per cent up at $79.18
Shares in ASG Group Limited
(ASX:ASZ) have jumped after scoring a contract win and flagging possible future deals. The provider of information technology services has signed a full managed services contract with Western Australia’s largest provider of gas and electricity, Synergy. Shares in ASG closed 9.74 per cent up at $0.84
Super Retail Group Limited
(ASX:SUL) has reported total sales growth but mixed like-for-like sales in the 44 weeks to the 2nd of May.
Brisbane-based Suncorp Group Limited
(ASX:SUN) has posted lending growth over the March quarter.
Best and worst performers
The best performing sector was REITs adding 1.3 per cent to close at 1,267. The worst performing sector was energy, losing 3.1 per cent to close at 11,384 points.
The best performing stock in the S&P/ASX 200 was Qantas Airways Limited
(ASX:QAN), rising 5.59 per cent to close at $3.40. Shares in Vocus Communications Limited
(ASX:VOC) and Ten Network Holdings Limited
(ASX:TEN) also closed higher.
The worst performing stock was Arrium Limited
(ASX:ARI), dropping 5.26 per cent to close at $0.18. Shares in Santos Limited
(ASX:STO) and Sundance Energy Australia Limited
(ASX:SEA) also closed lower.
Commodities
The price of gold is trading at $US1,184 an ounce, and is up $2.56 over the week. Light crude is $1.99 lower at $US58.94 a barrel. The Australian dollar is buying $0.7908 and is $0.001 up over the week.
