The Australian share market closed 0.74 per cent up. Gains across the energy sector helped offset a midday lull in Tuesday’s relief rally. Investors got behind the big banks for a push higher into the close.
The S&P/ASX 200 index closed 37 points up to finish at 5,104.
The value of trades was $3.9 billion on volume of 662 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), Telstra Corporation Limited
(ASX:TLS) and ANZ Banking Group
(ASX:ANZ)
On the futures market the SPI is 29 points up.
Company news
Wesfarmers Limited
(ASX:WES) has reiterated its focus on network expansion and capital investment for its Coles brand. In a note to shareholders, Wesfarmers said it will continue to progress the supermarket giant’s Liquor transformation in an effort to deliver long-term financial performance. Wesfarmers Limited closed 0.96 per cent up at $39.03.
National Australia Bank Limited
(ASX:NAB) has become a substantial shareholder in Lifestyle Communities Limited
(ASX:LIC). NAB purchased fully paid ordinary shares in the real estate holder equivalent to a voting power of 5.2%. Shares in NAB closed 0.13 per cent up at $30.51.
TPG Telecom
(ASX:TPM) announced a 31 percent increase in net profit to $224.1 million for the year to 31 July 2015.
South32 Limited
(ASX:S32) reported a 21 percent increase in total Mineral Resources at its Cannington operation, alongside upgrades for two of its key projects.
New Hope Corporation Limited
(ASX:NHC) reported a net loss of $21.8 million for the financial year ended 31 July 2015.
The PAS Group Limited
(ASX:PGR) received an unconditional on-market offer for all shares from Australia Brands Investment LLC, priced at $0.63 cash per share.
Best and worst performers
The best performing sector was Energy adding 2.7 per cent to close at 8,688. The worst performing sector was Materials, losing 0.25 per cent to close at 7,891 points.
The best performing stock in the S&P/ASX 200 was AWE, rising 6.57 per cent to close at $0.73. Shares in Regis Resources and Karoon Gas also closed higher.
The worst performing stock was TPG Telecom, dropping 4.58 per cent to close at $10. Shares in Western Areas and Slater & Gordon also closed lower.
Commodities and the dollar
Gold is trading at $US1,134 an ounce
Light crude is $1.70 up at $US46.72 a barrel
The Australian dollar is buying $US0.7143
