The Australian share market closed 0.5 per cent higher today, but Aussie investors are still nervously awaiting a rates decision from the Federal Reserve on Friday. Not a good day for the Asian markets though, with China’s Shanghai Composite down around 3.7 per cent on the back of weak economic data released on the weekend.
The S&P/ASX 200 index closed 25 points higher to finish at 5,097.
The value of trades was $5.2 billion on volume of 781 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), National Australia Bank Limited
(ASX:NAB) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 23 points higher.
Company news Commonwealth Bank of Australia
(ASX:CBA) says it has now completed its $5.1 billion capital raising. Under the entitlement offer, shareholders were able to buy CBA shares at $71.50 per new share. Chief Financial Officer David Craig says this places the Commonwealth Bank as one of the strongest capitalized banks in the world. CBA closed 0.77 per cent lower at $74.55.
Primary Health Care
(ASX:PRY) says its founder and former managing director Edmund Bateman has died after battling an illness since late last year. Dr Bateman grew Primary Health Care from a single medical centre, to a company owning 58 medical centres around the country. Managing Director Peter Gregg says Dr Bateman’s legacy on the Australian heath care system will be felt for years to come. Shares in Primary Health Care closed 0.99 per cent higher $4.09.
Oil Search Limited
(ASX:OSH) says it will reject the Woodside Petroleum Limited
(ASX:WPL) four shares for one indicative proposal to take over Oil Search.
Cardno Limited
(ASX:CDD) says a major shareholder Crescent Capital Investments intends to buy a much bigger stake in the company.
Alexium International Group Limited
(ASX:AJX) says it has received its first large scale production order from a major US bedding customer.
Diploma Group Limited
(ASX:DGX) says that a project planned by its wholly owned subsidiary Diploma Construction will no longer go ahead.
Best and worst performers
The best performing sector was Utilities adding 1.05 per cent to close at 6,409. The worst performing sector was Energy, losing 0.35 per cent to close at 8,441 points.
The best performing stock in the S&P/ASX 200 was Cardno Limited
(ASX:CDD), rising 16 per cent to close at $2.90. Shares in Ten Network and Mayne Pharma also closed higher.
The worst performing stock was Liquefied Natural Gas
(ASX:LNG), dropping 17.25 per cent to close at $1.66. Shares in Beach Energy and AWE also closed lower.
Commodities and the dollar
Gold is trading at $US1,108 an ounce.
Light crude is down $1.28 at $US45.16 a barrel.
The Australian dollar is buying 70.69 US cents.
