Market Wrap: ASX closes flat after strong week

Market Reports

The morning’s wild swings settled down this afternoon and the market finished flat. A number of profit warnings have added to the volatility this week among the lingering Greek debt saga and the tumbling China stock market.
 
The Aussie dollar edged lower today to finish a week that saw it only briefly push above $US0.75 despite Fed Chair Janet Yellen offering a further suggestion that US rates will push higher in the near future.
 
Today, the S&P/ASX 200 index closed 0.5 points up to finish at 5,670. 
Over the week the index gained 178 points. 
 
The value of trades was $3.7 billion on volume of 606 million shares at the close of trade. The top three stocks by value were Westpac Banking Corporation (ASX:WBC), ANZ Banking Group (ASX:ANZ) and Commonwealth Bank of Australia (ASX:CBA).
 
On the futures market the SPI is 6 points down.
 
Looking at Wall Street, US major indexes have shown strong gains over the four trading days this week: The Dow Jones Industrial Average has added 2 per cent. The S&P 500 Index has added 2.2 per cent. The NASDAQ has added 3.2 per cent. The 100 Index is up 3.8 per cent.
 
Company news 
 
Investors were impressed by Metcash Limited (ASX:MTS) as it appointed a new supermarkets chief almost four months after its last boss departed. Former Coles executive Steven Cain will take the reins from Fergus Collins who left in March after 13 years with the company. Shares in Metcash have closed up 10.43 per cent at $1.17
 
Santos Limited (ASX:STO) has reported increased production but lower sales revenues in the second quarter of the current calendar year. The oil and gas producer’s production rose 12 per cent to 14.3 million barrels of oil equivalent in the June quarter.  Shares in Santos closed 0.78 per cent down at $7.66 
 
Lynas Corporation Limited (ASX:LYC) has achieved record cashflow and sales in the last quarter of the 2015 financial year. 
 
National Australia Bank Limited (ASX:NAB) is continuing with its plans to exit its shareholding in its US agribusiness bank subsidiary, Great Western Bancorp (NYSE:GWB).
 
Best and worst performers

The best performing sector was energy adding 0.6 per cent to close at 10,986. The worst performing sector was REITs, losing 0.65 per cent to close at 1,285 points.
 
The best performing stock in the S&P/ASX 200 was Regis Resources Limited (ASX:RRL), rising 26.09 per cent to close at $1.45. Shares in Metcash Limited (ASX:MTS) and Whitehaven Coal (ASX:WHC) also closed higher.
 
The worst performing stock was Mineral Resources Limited (ASX:MIN), dropping 4.5 per cent to close at $5.94. Shares in Sonic Healthcare Limited (ASX:SHL) and Mesoblast limited (ASX:MSB) also closed lower.
 
Commodities

The price of gold is trading at $US1,145 an ounce, to give up $18.41 over the week.
Light crude is $0.55 lower at $US51.24 a barrel.

The Australian dollar is buying $0.7405 and is $0.008 down over the week. 

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