Early trade today was mired in fears about steep falls on the Chinese stock market but that weakness turned positive around midday today, but from there we saw a slight pullback and the local bourse finished 0.2 per cent lower.
Markets in Shanghai were trading lower again today but further price controls came into effect today to both slow selling and return optimism to outside observers.
The Aussie dollar reacted positively today, bouncing back above $US0.73 in afternoon trade.
The S&P/ASX 200 index closed 5 points down to finish at 5,585.
The value of trades was $5.2 billion on volume of 801 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), Westpac Banking Corporation
(ASX:WBC) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is 3 points down.
Company news
CSL Limited
(ASX:CSL) has advised the US Food and Drug Administration will look into one of its treatments for haemophilia. The review comes following a pivotal clinical trial which exhibited promising results. CSL closed 1.61 per cent up at $96.17
Senex Energy Limited
(ASX:SXY) has met its output target for the full 2015 financial year. The oil and gas group reported annual production increased 1 per cent, inline with guidance. Over the year sales revenue sank 32 per cent to $115.9 million on the back of lower crude oil prices. Shares in Senex closed 2 per cent up at $0.26
SpeedCast International Limited
(ASX:SDA) says it has strengthened its maritime business with the acquisition of SAIT Communications.
AMP Limited’s
(ASX:AMP) AMP Capital has appointed Adam Tindall as its new Managing Director.
Immune therapy company Immuron Limited
(ASX:IMC) has appointed Dr Jerry Kanellos as Chief Operating and Scientific Officer.
Newzulu Limited
(ASX:NWZ) has announced a slew of new partners this week with a Vietnamese client, Lasta Multimedia, the most recent addition.
Best and worst performers
The best performing sector was energy adding 0.8 per cent to close at 10,710. The worst performing sector was consumer discretionary, losing 1 per cent to close at 1,856 points.
The best performing stock in the S&P/ASX 200 was Sandfire Resources
(ASX:SFR), rising 3.48 per cent to close at $6.24. Shares in G8 Education Limited
(ASX:GEM) and Greencross Limited
(ASX:GXL) also closed higher.
The worst performing stock was Whitehaven Coal Limited
(ASX:WHC), dropping 5.25 per cent to close at $1.18. Shares in Regis Resources Limited
(ASX:RRL) and Northern Star Resources Limited
(ASX:NST) also closed lower.
Commodities
Gold is trading at $US1,097 an ounce.
Light crude is $0.75 down at $US47.39 a barrel.
The Australian dollar is buying $US0.7316
