Market Wrap: ASX lifts 0.3% into new week

Market Reports

Despite a sluggish start to the session the Australian share market lifted 0.3 per cent by close. Financial, health and tech sectors saw strength while mining and energy sectors declined. Local gold miners bore the brunt of the selling amid hefty selling on the Shanghai Gold Exchange today. 
 
Figures
 
The S&P/ASX 200 index lifted 17 points to close at 5,687. 

The value of trades was $3.3 billion on volume of 508 million shares at the close of trade. 

The top three stocks by value were ANZ Banking Group (ASX:ANZ), Westpac Banking Corporation (ASX:WBC) and BHP Billiton Limited (ASX:BHP)

On the futures market the SPI is 22 points higher.
 
Company news
 
Australia's Big Four Banks have begun responding to the Australian Prudential Regulation Authority’s (APRA) decision to increase mortgage capital. The banking regulator will ask the banks to hold more capital in reserve to protect against potential losses from July 1 2016, giving the banks about one year to secure extra capital. Shares in Australia’s biggest bank, Commonwealth Bank of Australia (ASX:CBA) rose 0.43 per cent to close at $88.36.
 
The A2 Milk Company Limited (ASX:A2M, NZX:ATM) has rejected a takeover offer from Freedom Foods Group Limited (ASX:FNP) and US dairy group Dean Foods Company. The dual-listed milk company says it is evaluating other confidential enquiries indicating interest in the company and has also today upgraded its annual revenue guidance. Shares in The A2 Milk Company ended steady at $0.67. 
 
Pipeline group Duet Group (ASX:DUE) entered into a trading halt to undergo a $1.67 billion equity raising to fund a takeover bid for Energy Developments Limited (ASX:ENE).
 
Shares in AWE Limited (ASX:AWE) fell after the oil and gas group flagged a $110 million impairment charge after writing down the value of its BassGas project reserves.  
 
Shares in Newcrest Mining Limited (ASX:NCM) sank after the gold miner temporarily suspending operations at the Hidden Valley site in PNG after an employee died. 
 
Shares in Martin Aircraft Company Limited (ASX:MJP) surged after the jet pack developer inked a MOU for jetpacks in North America.
 
Best and worst performers

The best performing sector was health care, adding 0.8 per cent to close at 19,250.
The worst performing sector was energy, losing 0.9 per cent to close at 10,890 points.
 
The best performing stock in the S&P/ASX 200 was APN News and Media Limited (ASX:APN), rising 6.52 per cent to close at $0.73. Shares in Sandfire Resources NL (ASX:SFR) and BlueScope Steel Limited (ASX:BSL) also closed higher.
 
The worst performing stocks were gold miners. Evolution Mining Limited (ASX:EVN) dropped 14.54 per cent to close at $0.97. Shares in Newcrest Mining Limited (ASX:NCM) and Northern Star Resources (ASX:NST) also closed lower. 
 
Commodities
 
Gold is buying $US1,113 an ounce. 
Light crude is $0.03 lower at $US51.21 a barrel. 
 
Currencies
 
The Australian dollar is buying $US0.7376 

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