Market Wrap: Welcome relief on the ASX

Market Reports

US gains overnight offered much needed relief to the market today with the banks offering support but also the health care sector helping the ASX to finish almost 1.2 per cent higher.
 
Ramsay Healthcare showed a strong annual profit and with signs of growing global reach the company’s share price surged, Healthscope and Ansell also made healthy gains.
 
Meanwhile the Shanghai composite index is trading about half a per cent higher this afternoon which should help spur continued optimism on Wall Street tonight. 
 
The S&P/ASX 200 index closed 61 points up to finish at 5,233.
 
The value of trades was $6.4 billion on volume of 923 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), ANZ Banking Group (ASX:ANZ) and BHP Billiton Limited (ASX:BHP).
 
On the futures market the SPI is 74 points up.
 
Company news
 
Ramsay Health Care Limited (ASX:RHC) made solid gains today as its statutory net profit surge 27 per cent to $386 million for FY15. The country’s biggest private hospital operator says it will reward shareholders with a full year dividend of 101 cents which is up more than 18 per cent. Ramsay closed 5.54 per cent up at $63.68
 
Embattled surfwear company Billabong International Limited (ASX:BBG) has returned to profit in FY15 posting a $4.15 million net profit after a loss of $233 million last year. CEO Neil Fiske says the company is back to doing what it does best – building great global brands. Shares in Billabong closed 2.38 per cent up at $0.65 
 
Nine Entertainment Co Holdings Limited (ASX:NEC) has reported a dip in full year net profit of 2.9 per cent to $140.1 million, on an underlying pro-forma basis.
 
MYOB Group Limited (ASX:MYO) has seen its first half loss stretch by 122 per cent to $65 million, a figure which does include the costs of its IPO.
 
Boral Limited (ASX: BLD) has delivered a surge in net profit to $257 million in the year to June 30.
 
McAleese Limited (ASX:MCS) has posted a $90.9 million net loss for the year on the back of tumbling commodity prices.

Best and worst performers 

All major sectors are higher today. The best performing sector was utilities adding 2.9 per cent to close at 6,705. The sector with the least gains was materials, up 0.3 per cent to close at 7,915 points.
 
The best performing stock in the S&P/ASX 200 was Paladin Energy Limited (ASX:PDN), rising 18.18 per cent to close at $0.20. Shares in Senex Energy Limited (ASX:SXY) and Flight Centre Travel Group Limited (ASX:FLT) also closed higher.
 
The worst performing stock was Bradken Limited (ASX:BKN), dropping 9.49 per cent to close at $1.15. Shares in Evolution Mining (ASX:EVN) and Boral Limited (ASX:BLD) also closed lower.
 
Commodities

Gold is trading at $US1,127 an ounce.
Light crude is $0.71 down at $US38.60 a barrel.
The Australian dollar is buying $US0.7103

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