The Aussie share market closed higher today for the seventh straight session, supported by gains in top miner BHP. However NAB’s capital raising announcement limited gains.
The S&P/ASX 200 Index closed 18 points higher at 4,069 while on the futures market, the SPI200’s up 8.
To company news around this afternoon: The Commonwealth Bank of Australia Ltd (ASX:CBA) says funds under management rose eight per cent to $138 billion for the June quarter compared with the March quarter. The bank also says funds under administration increased 6.9 per cent to $175 billion for the quarter. And Insurance premiums rose 3.7 per cent over the quarter to $1.56 billion, driven by strong new business volumes in Life and General Insurance. The Commonwealth Bank shares closed 1.64 per cent lower at $39.10.
Agribusiness company AWB Ltd (ASX:AWB) says it has decided to wind-down its Brazilian operations due to ongoing credit issues, deteriorating market conditions and poor local commercial decisions. AWB says it forecasts that the Brazilian operations will record an operating loss before tax for the full year of between $55 million and $65 million. The winding down of the business will include assessment of the sale of the business or components of it. AWB shares closed 3.33 per cent weaker at $1.16.
Also making news today: Oil and gas producer Beach Petroleum Ltd (ASX:BPT) has reported record annual production and sales revenue for the 2008/2009 financial year.
Gold miner Newcrest Mining Ltd (ASX:NCM) says gold production rose nine per cent in the June quarter compared to the March quarter, but fell almost nine per cent compared to the same period last year.
National Australian Bank Ltd (ASX:NAB) has today announced a $2.75 billion capital raising to maintain balance sheet strength and flexibility.
And Grocery retailer Woolworths Ltd (ASX:WOW) has reported a 7.5 per cent rise in full year sales to $49.6 billion. Australian Food and Liquor sales for the year rose 9.6 per cent to $32.8 billion.
Now to the best and worst performers: The best performing sector at close today was the Industrials index which rose 85 points to 3,136; while the worst performing sector at close was the Health Care index; down 81 points to 7,736.
The best performing stock in the S&P/ ASX200 was Macquarie Infrastructure Group shares rose 13 per cent to $1.565. Shares in Sunland Group and ConnectEast Group also closed higher.
The worst performing stock was Transpacific Industries Group with shares falling 6.12 per cent to $1.15. Shares in BlueScope Steel and Macquarie CountryWide also closed lower.
In commodities, gold is trading at $949.50 U.S an ounce and light crude is down 39 cents at $65.22 U.S a barrel.
