A solid start to the week for the Australian share market, finishing the day 0.21 per cent higher, thanks to some bargain hunters buying the big banks.
The S&P/ASX 200 index closed 11 points higher to finish at 5,368.
The value of trades was $4.3 billion on volume of 534 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 up 16 points.
Company news
Mesoblast Limited (ASX: MSB) has reported a net loss of $119.4 million for the financial year ended 30 June.The stem cell therapy group says its cash reserves slumped to $144.1 million from $196.4 million as a result of increased spending on research and development. The company says its heart failure treatment may be given early approval by the FDA and its portfolio of treatments targeting inflammatory diseases could be a major opportunity for it. Shares in Mesoblast closed 2.7 per cent lower at $3.61.
Asciano Limited (ASX: AIO) shares have been placed into a trading halt pending an announcement by the company. There’s media speculation that the ports and rail group will recommend acceptance of a takeover. Asciano has requested a trading halt until the market opens tomorrow morning.Asciano last traded at $8.11.
Newcrest Mining Limited
(ASX:NCM) has revealed a 15 per cent jump in underlying profit coming in a $515 million for the full year.
Aurizon Holdings Limited
(ASX:AZJ) has reported a 14 per cent increase in earnings to $907 million for the full year.
JB Hi-Fi Limited
(ASX:JBH) has announced Wai Tang will replace James King as non-executive director on the board.
Flexigroup Limited
(ASX:FXL) has announced a 6 per cent increase in full year NPAT to $90.1 million and announced a dividend of 17.75 cents.
Best and worst performers
The best performing sector was Utilities adding 0.9 per cent to close at 6,725. The worst performing sector was Energy, losing 0.9 per cent to close at 9,680 points.
The best performing stock in the S&P/ASX 200 was Transfield Services
(ASX:TSE), rising 6.67 per cent to close at $1.20. Shares in Newcrest Mining
(ASX:NCM) and Flexigroup Limited
(ASX:FXL) also closed higher.
The worst performing stock was Southern Cross Media
(ASX:SXL), dropping 3.7 per cent to close at 91 cents. Shares in OzForex Limited
(ASX:OFX) and Transpacific Industries
(ASX:TPI) also closed lower.
IPOs MyFiziq Limited
(ASX:MYQ) started trading today. The fitness app developer listed with an issue price of 20 cents, opened at 14 cents and a closed at 14 cents.
Commodities and Australian dollar
Gold is trading at $US1,118 an ounce.
Light crude is 13 cents higher at $US43.11 a barrel.
The Australian dollar is buying 73.74 US cents.
