From what started as an uninspiring open, the local share market has gained momentum throughout today’s session, closing the day 1.42 per cent higher. The financials space did most of the heavy lifting, led by the big four banks. Also a good day for the energy plays.
The S&P/ASX 200 index closed 71 points higher to finish at 5,114.
The value of trades was $3.88 billion on volume of 613 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Commonwealth Bank of Australia
(ASX:CBA) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is up 68 points.
Company news
Connexion Media Limited
(ASX:CXZ) has secured a distribution agreement with WEX Australia, a leading fuel card provider, to make Connexion’s Flex fuel card technology available to card holders in Australia. National roll out of the technology is to commence subject to the pilot being successful. Shares in Connexion Media closed 17.65 per cent higher at 20 cents.
Auckland International Airport Limited
(ASX:AIA) has secured the first year-round China Eastern Airlines flight between Auckland and Shanghai.
Vocus Communications Limited
(ASX:VOC) has continued on a rapid expansion pathway announcing a merger with M2 Group Limited
(ASX:MTU).
Pact Group Holdings
(ASX:PGH) has announced Malcolm Bundey will take over as Managing Director and CEO.
Lucapa Diamond Company Limited
(ASX:LOM) has announced the discovery of a 90.32 carat diamond at its project in Angola, Africa.
Best and worst performers
The best performing sector was Energy adding 2.24 per cent to close at 8,617. The worst performing sector was Healthcare, it was also higher by 0.1 per cent to close at 18,040 points.
The best performing stock in the S&P/ASX 200 was M2 Group, rising 13.42 per cent to close at $9.55. Shares in Paladin Energy and Virtus Health also closed higher.
The worst performing stock was Vocus Communications, dropping 7.40 per cent to close at $6.01. Shares in Independance Group and Cabcharge Australia also closed lower.
IPOs Ryder Capital Limited
(ASX:RYD) started trading today. The investment company listed with an issue price of $1.00, opened at $1.01 and a closed at $1.01.
Commodities and the dollar
Gold is trading at $US1,146 an ounce.
Light crude is up by 79 cents at $US45.70 a barrel.
The Australian dollar is buying 70.21 US cents.
