The Aussie market closed higher today, gains led by the major miners like BHP and Rio Tinto and top banks such as NAB and the Commonwealth Bank.
The S&P/ASX 200 Index closed 130 points higher at 3,867 while on the futures market, the SPI200’s up 145.
To company news around this afternoon: Global diversified engineering services group Ausenco Ltd (ASX:AAX) has announced that its minerals business has been selected as preferred contractor to provide engineering, procurement and construction management services for the US$250 million Martabe project in Indonesia. Ausenco has already started mobilising its project team and expects to re-commence work on site by August. Ausenco shares closed 4.55 per cent stronger at $3.68.
Uranium miner Energy Resources of Australia Ltd (ASX:ERA) says uranium oxide production for the June quarter rose 44 per cent to 1.48 tonnes compared to June quarter 2008. The result was also 22 per cent higher than the March quarter, largely thanks to improved grades and mill through-put. Energy Resources of Australia shares closed 2.7 per cent higher at $21.67.
Also making news today: In an update on the situation of Rio Tinto Ltd (ASX:RIO) in China. The Australian reports that top execs from five steel mills in China are being investigated as part of the ongoing investigation into the stealing of state secrets that resulted in the arrest of Rio staff in China.
Biotechnology company Avexa Ltd (ASX:AVX) that the CSIRO is to invest up to $2 million into the company’s hepatitis C virus program through the CSIRO’s Australian Growth Partnerships program.
Hearing implant maker Cochlear Ltd (ASX:COH) has cut its expectation for core earnings, saying it now expects to report a 12 per cent rise, after forecasting growth of 15 to 20 per cent in February.
And power generation company Babcock & Brown Power (ASX:BBP) has been given extra time to refinance $2.7 billion in debt from its banking syndicate.
Now to the best and worst performers: The best performing sector today was the Materials index which rose 410 points to 9,781; while the worst performing sector at close was the Health Care index; down 13 points to 7,661.
The best performing stock in the S&P/ ASX200 was ING Industrial shares rose 16.67 per cent to 28 cents. Shares in Ten Network Holdings and Murchison Metals also closed higher.
The worst performing stock was Cochlear with shares falling 4.11 per cent to $52.08. Shares in ResMed and Asciano Group also closed lower.
In commodities, gold is trading at $921.70 U.S an ounce and light crude oil is up 68 cents at $60.37 U.S a barrel.
