Market Wrap: Aus shares close 2.02 per cent lower

Market Reports

It has been a horror trading day for the local share market, with investors nervously selling off after a shocking session on Wall street on Friday. The local bourse finished the day 2.02 per cent lower. 
 
The S&P/ASX 200 index closed 104 points lower to finish at 5,066. 
 
The value of trades was $4.4 billion on volume of 675 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corporation (ASX:WBC) and ANZ Banking Group (ASX:ANZ).
 
On the futures market the SPI is down 97 points.
 
Company news

Worley Parsons (ASX:WOR) has been awarded a contract to provide the pipe fabrication, module assembly and field construction services for the Cutback Ridge Partnership Program’s gas plant project. Expected revenue for the company is CAD $164 million. Shares in Worley Parsons closed 3.69 per cent lower at $6.26. 
 
G8 Education Limited (ASX:GEM) says directors have voted unanimously to recommend the Anchorage takeover of Affinity Education Group Limited (ASX:AFJ) at $0.92 per share. 
 
Rural Funds Group (ASX:RFF) has negotiated a lease to develop and operate an almond orchard in the Riverina district of New South Wales. 
 
Vision Eye Institute Limited (ASX:VEI) has appointed Justin Walter as Managing Director and CEO. 
 
Alliance Aviation Services (ASX:AQZ) has signed a new five year contract with BHP Billiton Olympic Dam. 
 
Best and worst performers

All indices were in negative territory, but the best of a bad bunch was Healthcare losing 0.68 per cent to close at 17,867. The worst performing sector was Materials, losing 2.52 per cent to close at 7,910 points.
 
The best performing stock in the S&P/ASX 200 was Premier Investments, rising 9.58 per cent to close at $12.92. Shares in TPG Telecom and Altium also closed higher.
 
The worst performing stock was Karoon Gas, dropping 6.77 per cent to close at $1.79. Shares in Pacific Brands and Seven Group also closed lower. 
 
IPOs

Platinum Asia Investments Limited (ASX:PAI) started trading today. The investment company floated with an issue price of $1.00, opened at 99 cents and closed at 98.5 cents.    
 
Commodities and the dollar

Gold is trading at $US1,140 an ounce.
Light crude is down $2.18 to $US45.02 a barrel.
The Australian dollar is buying 71.70 US cents. 
 
 

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