The Aussie share market has closed higher today led by resource and financial stocks, and after a positive finish on Wall St overnight following a better then expected second quarter result from Goldman Sachs.
The S&P/ASX 200 Index closed 57 points higher at 3,925 while on the futures market, the SPI200’s up 40.
To company news around this afternoon: Coal miner and producer Coal & Allied Industries Ltd (ASX:CNA) says its share of coal sales in the second quarter was 15 per cent higher than the previous quarter largely due to the timing of higher domestic sales and available port allocation. The company anticipates that full year 2009 sales volumes will be in line with the revised port allocation and will be broadly similar to 2008. Coal & Allied also says saleable coal production for the quarter was 4.4 million tonnes, five per cent higher than the March quarter, however seven percent lower than the corresponding quarter last year. Coal & Allied Industries shares closed steady at $87.
Mineral exploration company Cape Lambert Iron Ore Ltd (ASX:CFE) says it is set to acquire up to an 18.7 per cent stake in ASX listed Australian uranium company Cauldron Energy Ltd (ASX:CXU) following the conversion of a $2.3 million convertible note.The company’s wholly owned subsidiary Dempsey Resources will receive 15.33 million Cauldron shares in two tranches, with an initial tranche representing 8.4 per cent of the company’s issued capital, to be issued immediately. With the remainder to be issued upon shareholder approval. Cape Lambert currently has a takeover offer on the table for Corvette Resources that values the company at $16.2 million. Cape Lambert Iron Ore shares closed 3.13 per cent higher at 33 cents.
Also making news today: Investment property company ALE Property Group (ASX:LEP) says that a valuation of 100 properties in its portfolio came to $804.77 million. The company also says it expects a rise in net assets per stapled security reflecting realised profits on property sales and revaluation of derivatives.
Information technology services company Data#3 Ltd (ASX:DTL) says it expects to report a nine per cent rise in earnings before interest and tax, with revenue expected to be around $530 million for fiscal 2009.
The Australian Financial Review is reporting that global miner BHP Billiton Ltd (ASX:BHP) is asking for as much as $1 billion for its Ravensthorpe nickel mine in Western Australia.
And Mining giant Rio Tinto Ltd (ASX:RIO) says there is no change to its shipping schedule to international customers, including China, saying it’s business as usual.
And to more news on the situation of Rio Tinto in China. The Sydney Morning Herald is reporting that Rio has been slammed by media in China, with a prominent newspaper saying Rio bribed executives from all 16 of China’s major steel mills.
Now to the best and worst performers: All sectors closed in positive territory today, however the sector with the biggest gain was the Industrials index which rose 87 points to 2,971; while the sector at close with the smallest gain was the Telco Services index; up 3 points to 1,183.
The best performing stock in the S&P/ ASX200 was Linc Energy shares rose 11.78 per cent to $1.755. Shares in PMP and Murchison Metals also closed higher.
The worst performing stock was Pacific Brands with shares falling 5.05 per cent to $0.94. Shares in Virgin Blue and ING Industrial Fund also closed lower.
In commodities, gold is trading at $928.80 U.S an ounce and light crude is up 88 cents at $60.40 U.S a barrel.
