Following positive leads the Australian share market was in fine form today, posting a daily, weekly and monthly gain. The benchmark index climbed 2.3 per cent over the week, building on a gain of 4.2 per cent in the first month of the 2016 financial year. Today most sectors gained ground but energy and mining sectors took a breather after yesterday’s gains and ended in the red.
Figures
The S&P/ASX 200 index advanced 30 points today, extending the weekly gain of 133 points to finish at 5,699.
The value of trades was $6.7 billion on volume of 849 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 BHP Billiton Limited
(ASX:BHP).
On the futures market the SPI is 37 points higher.
Wall Street
America’s major indices have climbed over the trading week so far: The Dow Jones Industrial Average has risen 1 per cent. The S&P 500 Index has risen 1.4 per cent. The NASDAQ has risen 0.8 per cent. The 100 Index has risen 0.9 per cent.
Company news
Shares in ResMed Inc
(ASX:RMD) rose to one of the best performers in the benchmark index after posting an improved net profit and revenue result for the 2015 financial year. The US-based sleep disorder company’s annual net profit grew 2 per cent to $US353 million while revenue improved 8 per cent to $US1.7 billion. Shares in ResMed gained 6.38 per cent to close at $8.00.
OceanaGold Corporation (ASX:OGC, TSE:OGC, NZX:OGC) has launched a takeover for Romarco Minerals Inc. (TSE:R) worth more than $900 million. The gold miner has offered Toronto-listed Romarco 0.241 OceanaGold shares for every Romarco share they own. Shares in OceanaGold Corporation dropped 14.7 per cent to close at $2.38.
Primary Health Care Limited
(ASX:PRY) has sold down its $34 million stake in Vision Eye Institute Limited
(ASX:VGH) to Shanghai-listed Jangho Group and expects to book a pre-tax gain on the sale of around $14 million.
Services provider Monadelphous Group Limited
(ASX:MND) has won new construction and maintenance contracts in the resources, energy and infrastructure markets valued at about $130 million.
Best and worst performers
The best performing sector was health care, adding 2.3 per cent to close at 19,678.
The worst performing sector was energy, losing 0.2 per cent to close at 10,973 points.
The best performing stock in the S&P/ASX 200 was Ainsworth Game Technology Limited
(ASX:AGI), rising 8.3 per cent to close at $3.00. Shares in ResMed Inc.
(ASX:RMD) and Henderson Group PLC
(ASX:HGG) also closed higher.
The worst performing stock was Paladin Energy Limited
(ASX:PDN), dropping 8.89 per cent to close at $0.21. Shares in Evolution Mining Limited
(ASX:EVN) and Senex Energy Limited
(ASX:SXY) also closed lower.
IPOs
Pepper Group Limited
(ASX:PEP) started trading today. The lending and loan services provider floated with an issue price of $2.60, opened at $3.05 and closed at $3.30.
Commodities
The price of gold is buying $US1,085 an ounce, down $1.47 over the week.
Light crude is $0.27 lower at $US48.52 a barrel.
Currencies
The Australian dollar is buying $0.7302, slightly higher over the week.
