The local market was looking strong today as it recovered from unease about the strength of China’s economy and amid some solid full years results, however most of the gains were shed in later afternoon trade and we finished 0.1 per cent higher.
Sirtex maintained its gains today but Telstra disappointed investors, giving up more than 2 per cent.
The S&P/ASX 200 index closed 6 points up to finish at 5,388
The value of trades was $4.6 billion on volume of 743 million shares at the close of trade. The top three stocks by value were Telstra Limited
(ASX:TLS), BHP Billiton Limited
(ASX:BHP) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is 16 points up.
Company news
Sirtex Medical Limited (ASX: SRX) has posted a strong lift in net profit to $40.35 million in its latest annual results. The profit result was a 69 per cent increase on the previous year's $23.8 million figure. The bio-med’s revenue was also up by 35.6 per to $177.98 million. Sirtex closed 9.69 per cent up at $32.94
Tabcorp Holdings Limited (ASX: TAH) has posted a full year net profit of $334 million, a 158 per cent increase on the previous corresponding period. Underlying net profit came in at $171.3 million, just exceeding analyst forecasts. Shares in Tabcorp closed 1.28 per cent down at $4.64
Mirvac Group
(ASX:MGR) has posted a strong lift in net profit to $609.9 million for the year to June 30.
Whitehaven Coal Limited (ASX: WHC) says it has made a modest return to profit of $1.7 million for the second half of the year. The full year result saw a net loss of $342.7 million.
Shares in Crown Resorts Limited
(ASX:CWN) dipped on news James Packer will step down as Chairman.
And Goodman Group
(ASX:GMG) gained as it reports its full year operating profit increased 9 per cent to $653 million.
Best and worst performers of the day
The best performing sector was energy adding 1.5 per cent to close at 10,147. The worst performing sector was telco services, losing 2.1 per cent to close at 2,160 points.
The best performing stock in the S&P/ASX 200 was Sirtex Medical Limited
(ASX:SRX), as mentioned previously. Shares in Flight Centre Travel Group Limited
(ASX:FLT) and REA Group Limited
(ASX:REA) also closed higher.
The worst performing stock was Metcash Limited
(ASX:MTS), dropping 6.33 per cent to close at $1.11. Shares in Computershare Limited
(ASX:CPU) and Beach Energy Limited
(ASX:BPT) also closed lower.
Commodities
Gold is trading at $US1,122 an ounce.
Light crude is $0.14 up at $US44.01 a barrel.
The Australian dollar is buying $US0.7375.
