Aussie shares closed higher today as investors become more confident that company earnings during the reporting period may turn out better than expected. The market was also supported today by gains in the miners like major miner Rio Tinto and top banks such as the Commonwealth Bank.
The S&P/ASX 200 Index closed 50 points higher at 4,140 while on the futures market, the SPI200’s up 48.
To company news around this afternoon: Construction company Leighton Holdings Ltd (ASX:LEI) has today announced new contract wins worth around $900 million. The company says its Al Habtoor joint venture has been awarded a $600 million contract to construct the St Regis Hotel and Residences on Saadiyat Island in Abu Dhabi for the Tourism Development and Investment Company. Leighton says it has also won a three year contract extension worth $300 million by BHP Billiton Mitsubishi Alliance for work at the Peak Downs Mine in the Bowen Basin in Central Queensland. Leighton Holdings shares closed 2.23 per cent stronger at $28.42.
Diversified property developer Australand Property Group (ASX:ALZ) today announced a $475 million capital raising after reporting a loss of $269 million for the half year. The raising will be conducted via an entitlement offer comprising of an institutional component to raise $380 million and a retail component to raise around $95 million, at an offer price of 40 cents a share. Australand says the proceeds will be used to strengthen the company’s balance sheet. The company says the half year loss reflects $235.3 million in losses arising from property revaluations and $93 million in impairments and joint venture inventories. Australand shares are in a trading halt and last traded at 50 cents.
Also making news today: Coal miner Macarthur Coal Ltd (ASX:MCC) has reported record sales of 1.48 million tonnes for the June quarter, pushing sales volumes for the year to June up 17 per cent.
Building products manufacturer Brickworks Ltd (ASX:BKW) has sold its 56 hectare Scoresby brickworks site to Mirvac for $93.7 million with the proceeds to be used to retire debt.
Airline Virgin Blue Holdings Ltd (ASX:VBA) today launched a fully underwritten equity raising to raise around $231.4 million and announced that CEO Brett Godfrey will retire next year.
And building and construction materials manufacturer Boral Ltd (ASX:BLD) says Dr Bob Every will takeover from Ken Moss as Chairman of the Board in May 2010.
To the best and worst performers: All sectors closed in positive territory today, however the best performing sector at close was the Telco Services index, up 36 points to 1,239; while the sector at close with the smallest gain was the Health Care index; up 2 points to 7,669.
The best performing stock in the S&P/ ASX200 was Sundance Resources shares rose 19.35 per cent to 18.5 cents. Shares in Valad Property and Spotless Group also closed higher.
The worst performing stock was NRW Holdings with shares falling 5.58 per cent to $0.93. Shares in Macquarie Office and Nufarm also closed lower.
In commodities, gold is trading at $955.50 U.S an ounce and light crude is up 65 cents at $68.70 U.S a barrel.
