The Australian share market traded mainly in positive territory but closed barely changed. Following on from yesterday’s 1.3 per cent gain traders remained encouraged by Greek debt negotiations.
Across the benchmark index Flight Centre Travel Group Limited
(ASX:FLT) fell to the worst performer for the second straight day. Investors continued to sell out of the travel agency stock after it downgraded its profit guidance for the second time in six months.
Figures
The S&P/ASX 200 index closed 2.5 points higher at 5,687.
The value of trades was $5.3 billion on volume of 734 million shares at the close of trade.
The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), BHP Billiton Limited
(ASX:BHP) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is 7 points higher.
Company news
Staffing, maintenance and project services provider Programmed Maintenance Services Limited
(ASX:PRG) is poised to takeover staffing services company Skilled Group Limited
(ASX:SKE) by mid October. Both groups have today entered into a scheme implementation agreement under which Programmed will acquire all Skilled shares through scheme of arrangement. Shares in Programmed Maintenance Services rose 0.71 per cent to close at $2.82.
IOOF Holdings Limited
(ASX:IFL) has launched an independent review in the same week claims emerged alleging senior staff had not communicated internal misconduct to regulators. The financial services group has engaged PricewaterhouseCoopers (PwC) to investigate its regulatory breach reporting policy and procedures. Shares in IOOF Holdings fell 3.8 per cent to close at $9.12.
Law firm Slater & Gordon Limited
(ASX:SGH) has refuted reports claiming its accounting practises are subject to an examination by the Australian Securities and Investments Commission (ASIC).
Media group Seven West Media Limited
(ASX:SWM) has announced a number of director appointments and the retirement of Don Voelte as Director and Deputy Chairman.
CIMIC Group Limited’s
(ASX:CIM) Leighton Contractors is set to work on a Victorian rail project after being named as a preferred contractor with its alliance partners.
Department store retailer Myer Holdings Limited
(ASX:MYR) has refinanced $600 million of debt which it believes will deliver a number of benefits for the company.
Best and worst performers
The best performing sector was telco services, adding 0.9 per cent to close at 2,244.
The worst performing sector was consumer discretionary, losing 1.1 per cent to close at 1,877 points.
The best performing stock in the S&P/ASX 200 was Liquefied Natural Gas Limited
(ASX:LNG), rising 8.97 per cent to close at $4.25. Shares in Corporate Travel Management Limited
(ASX:CTD) and Cover-More Group Limited
(ASX:CVO) also closed higher.
The worst performing stock was Flight Centre Travel Group Limited
(ASX:FLT), dropping 8.8 per cent to close at $34.21. Shares in Seven West Media Limited
(ASX:SWM) and Slater & Gordon Limited
(ASX:SGH) also closed lower.
Commodities
Gold is buying $US1,178 an ounce.
Light crude is $0.63 higher at $US61.01 a barrel.
Currencies
The Australian dollar is buying $US0.7734.
