Market Wrap: Aus shares finish 0.1% higher

Market Reports

After what was shaping up to be another day in the doldrums for the local share market, a late afternoon rally pushed the index into positive territory. The S&P/ASX 200 index finished the day 0.1 per cent or 5 points higher at 5,102. 
 
The value of trades was $6.5 billion on volume of 1.05 billion shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), BHP Billiton Limited (ASX:BHP) and ANZ Banking Group (ASX:ANZ).
 
On the futures market the SPI is flat.
 
Economic data

Data from the Australian Bureau of Statistics has shown weaker than expected economic growth for the June quarter. Economic growth came in at 0.2 per cent, missing economists’ expectations of 0.5 per cent. The annual rate of growth came in at 2 per cent in the year to June 30. 
 
Company news

CIMIC Group’s (ASX:CIM) construction company Leighton Contractors has been selected as the preferred contractor to design and construct Sydney’s $5 billion new M5 Motorway in a joint venture with Dragados and Samsung C & T. CIMIC says revenue to Leighton Contractors will be confirmed at contract execution which is expected in the coming months. Shares in CIMIC Group closed down 0.95 per cent at $22.90. 
 
Avita Medical Limited (ASX:AVH) has announced that one of its European patents has been validated in 11 European countries including France, Germany and Great Britain. The regenerative medicine company specialises in the treatment of wounds and skin defects. The patent has been granted on its product ReCell, which is a technique for grafting cells. Shares in Avita Medical closed down 3.85 per cent at 7.5 cents.
 
Origin Energy Limited (ASX:ORG) has inked a deal with with Armour Energy to sell dis-used facilities in a $13 million agreement.
 
Beadell Resources (ASX:BDR) has maintained production guidance on its Duckhead mining operations.
 
Senex Energy Limited (ASX:SXY) has announced the spudding of the first wells in its 2016 financial year drilling program.
 
Helloworld Limited (ASX:HLO) has confirmed it is in discussions with AOT Group regarding the potential acquisition of the travel services company.
 
Best and worst performers

The best performing sector was Healthcare adding 0.8 per cent to close at 18,289. The worst performing sector was Energy, losing 1.9 per cent to close at 8,884 points.
 
The best performing stock in the S&P/ASX 200 was Western Areas (ASX:WSA), rising 6.07 per cent to close at $2.62. Shares in UGL and Navitas also closed higher.
 
The worst performing stock was Seven West Media (ASX:SWM), dropping 11.04 per cent to close at 72 cents. Shares in Liquefied Natural Gas and Drillsearch also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,142 an ounce.
Light crude is $5.01 lower at $US44.19 a barrel.
The Australian dollar is buying 70.4 US cents. 

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