The Aussie market closed flat today, giving up earlier gains after the release of the RBA minutes from its July 7 board meeting, with the central bank saying it may decrease rates again if needed. This put pressure on the financials, energy stocks however gave the market some support, rising on higher oil prices.
The S&P/ASX 200 Index closed steady at 4,051 while on the futures market, the SPI200’s up 21.
To company news around this afternoon: Gold miner Lihir Gold Ltd (ASX:LGL) is to sell its Ballarat gold mine in Victoria after a review found the project is unlikely to achieve the scale required to fit within the company’s portfolio. Lihir says it has received expressions of interest from a number of potential acquirers which it will pursue in coming weeks. The decision is expected to result in an impairment charge of between US$250 million and US$350 million in the company’s next interim profit result. Lihir Gold shares closed 0.34 per cent higher at $2.91.
Oil and gas company Oil Search Ltd (ASX:OSH) says oil and gas production for the June quarter was marginally higher than the first. Oil and gas production was 1.906 million barrels of oil equivalent for the three months to June 30 2009, up from 1.903 million in the March quarter, but down from 2.122 million barrels of oil equivalent recorded for the June quarter last year. Managing director Peter Botten says oil market conditions improved significantly during the second quarter of 2009 with a strong rally in oil prices. Production guidance for the full year remains unchanged at between 8 million and 8.3 million barrels of oil equivalent. Oil Search shares closed 0.36 per cent lower at $5.58.
Also making news today: Conglomerate Wesfarmers Ltd (ASX:WES) has been given the green light from the ACCC for the sale of 45 supermarkets and eight liquor stores to FoodWorks.
Gold explorer OceanaGold Corporation (ASX:OGC) has launched a non-underwritten institutional placement, with the proceeds to be used for a brownfields exploration and drilling program of prospective targets close to the company’s existing operations on New Zealand’s South Island.
Infrastructure company Leighton Holdings Ltd (ASX:LEI) says its subsidiary Leighton Asia in joint venture with Leonhard Nilsen & Sonner AS has been awarded a $410 million major sewage tunnelling system project in Hong Kong.
And retailer Harvey Norman Holdings Ltd (ASX:HVN) says sales increased 3.8 per cent for the year to June 30 2009.
Now to the best and worst performers: The best performing sector at close today was the Consumer Discretionary index which rose 14 points to 1,357; while the worst performing sector at close was the Utilities index; down 64 points to 4,054.
The best performing stock in the S&P/ ASX200 was Mincor Resources shares rose 19.5 per cent to $1.90. Shares in Panoramic Resources and West Australian Newspapers Holdings also closed higher.
The worst performing stock was Harvey Norman with shares falling 6.05 per cent to $3.26. Shares in Nexus Energy and Transurban Group also closed lower.
In commodities, gold is trading at $949.80 U.S an ounce and light crude is down 15 cents at $63.83 U.S a barrel.
