Following gains on Wall St overnight, the local share market has closed higher today, lifted by gains in the miners like mining giant BHP on a rise in metals prices, and the major banks like the Commonwealth Bank.
The S&P/ASX 200 Index closed 54 points higher at 4,244 and is up 154 points on week. On the futures, the SPI200’s up 44.
Looking to the U.S. and on Wall Street, the Dow Jones industrial index up 61 points on the four trading days this week. The S&P500 Index gained 7, the NASDAQ up 18 points and the 100 index climbed 11 points.
To company news around this afternoon: Oil and gas producer Australian Worldwide Exploration Ltd (ASX:AWE) has reported a fall in oil and gas production and sales revenue for the 2009 financial year. Total oil and gas production for the 12 month period came to 8.75 million barrels of oil equivalent, marginally below guidance and 11 per cent lower than the same period a year ago. The company says its annual sales revenue reached $590 million less than 2 per cent lower than forecast, but 28 per cent down on the year before due to lower production and lower oil prices over the full year. Australian Worldwide Exploration shares closed 0.75 per cent higher at $2.67.
Gas producer and power generation company Arrow Energy Ltd (ASX:AOE) has announced a significant upgrade to its reserves. Arrow says its proven and probable reserves have more than doubled to 2,581 petajoules. According to The Australian, CEO Nick Davies says this is a huge reserves increase but there is more to come, saying the company has barely scratched the surface. The paper reports that Mr Davies says Arrow has the capability to supply both the Fisherman’s Landing and Curtis Island LNG plants in Queensland. Arrow Energy shares closed 3.12 per cent stronger at $4.29.
Australian Rail and Track Corporation has awarded Macmahon Holdings Ltd (ASX:MAH) and its subsidiary MVM Rail work as part of the $100 million Ulan Line Alliance programme. The company says the total contract value to Macmahon and its subsidiary will be approximately $60 million.
And gaming machine maker Aristocrat Leisure Ltd (ASX:ALL) says it expects to book a one-off $79.9 million charge in its financial results for the half year to June 30. Combined with previously announced one-off items the company expects to report a loss of around $33.2 million for the half year. Full year profit however remains within the company’s previous guidance.
To the best and worst performers: One of the best performing sectors at close today was the Financials Excluding Real Estate Investment Trust index, up 101 points to 4,662; while the worst performing sector at close was the Telco Services index; down 30 points to 1,220.
The best performing stock in the S&P/ASX200 was Elders up 38.18 per cent to $0.38 cents the company announced the sale of its insurance arm to QBE today. Shares in Boart Longyear and Kagara also gained.
The worst performing stock was ConnectEast Group with shares falling 6.02 per cent to $0.39. Shares in ING Industrial and Fortescue Metals Group also closed lower today.
The Aussie dollar is currently buying 83.02 U.S cents and is up more than a cent on the week. Gold is trading at $940.15 U.S an ounce and is down $10.20 on the week.
Finally, oil is up 53 cents at $67.47 U.S a barrel.
