The Australian share market has finished the day in positive territory closing 0.24 per cent higher, despite retreating from strong gains mid-way through the session. The materials space did the bulk of the heavy lifting, but the energy space also continued on its dream run of the last couple of days with Santos and Origin Energy leading the charge.
The S&P/ASX 200 index closed 13 points higher to finish at 5,210.
The value of trades was $5.2 billion on volume of 793 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Rio Tinto Limited
(ASX:RIO) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is up just 1 point.
Company news
AWE Limited
(ASX:AWE) has announced that its CEO and Managing Director Bruce Clement will step down during 2016 after five and a half years in the role. The company says it has commenced the search for a new CEO, while continuing to focus on its growth projects. Shares in AWE closed 5.95 per cent lower at 79 cents.
ANZ
(ASX:ANZ) has entered into an agreement to sell its Esanda Dealer Finance portfolio to Macquarie Group
(ASX:MQG). The portfolio includes net lending assets of $7.8 billion comprising retail point-of-sale auto finance of $6.2 billion and wholesale bailment facilities and other Esanda brand finance offered to motor vehicle dealers worth $1.6 billion. Shares in ANZ closed 0.76 per cent higher at $27.93.
A2 Milk Company Limited
(ASX:A2M) has announced an equity raising of NZ$40 million via a fully-underwritten placement to eligible investors.
Bank of Queensland
(ASX:BOQ) has delivered a 22 percent lift in statutory net profit to $318 million for the year ended 31 August 2015.
Bluescope Steel Limited
(ASX:BSL) has reached an agreement with unions and employees at Port Kembla in NSW, in a new three-year enterprise agreement.
Australian Industrial REIT
(ASX:ANI) has submitted an application to the Australian Government Takeovers Panel, regarding an off-market takeover bid by 360 Capital Industrial Fund.
Best and worst performers
The best performing sector was Materials adding 1.7 per cent to close at 8,299. The worst performing sector was REITs, losing 1 per cent to close at 1,248 points.
The best performing stock in the S&P/ASX 200 was Western Areas, rising 9.16 per cent to close at $2.74. Shares in Drillsearch and Santos also closed higher.
The worst performing stock was Blackmores, dropping 6.29 per cent to close at $141.87. Shares in AWE and Evolution Mining also closed lower.
Commodities and the dollar
Gold is trading at $US1,144 an ounce.
Light crude is 72 cents lower at $US47.81 a barrel.
The Australian dollar is buying 71.71 US cents.
