The local share market has finished the week on a sour note, closing 0.52 per cent lower, after losses in the big four banks dragged the index down. Shares in ANZ were heavily sold off, but it was Macquarie Group that bucked the trend after releasing a record profit result.
Global markets
Today, the S&P/ASX 200 index closed 28 points lower to finish at 5,239. Over the week the index lost 112 points.
The value of trades was $7.5 billion on volume of 951 million shares at the close of trade. The top three stocks by value were ANZ Banking Group
(ASX:ANZ), Commonwealth Bank of Australia
(ASX:CBA) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is down 24 points.
Looking at Wall Street, US major indexes have gained over the four trading days this week: The Dow Jones Industrial Average has added 0.6 per cent. The S&P 500 Index has gained 1.5 per cent. The NASDAQ has added 0.8 per cent. The 100 Index has added 1 per cent.
Company news
Flight Centre Travel Group
(ASX:FLT) has boosted its leisure and travel offerings by securing a leading Australian charter aircraft and logistics solution specialist. The company has agreed to acquire a 51 per cent interest in AVMIN, a private Brisbane-based business. AVMIN specialises in FIFO logistics and VIP travel charters and air freight services. Shares in Flight Centre closed 0.73 per cent lower at $37.95.
Macquarie Group Limited
(ASX:MQG) says that improved business and foreign exchange conditions are responsible for a 58 per cent jump in first half net profit to $1.07 billion.
OceanaGold Corporation (ASX:OGC, NZX:OGC) has reported Q3 profit of $30.4 million on revenue of $364 million for the first nine months of the year.
Best and worst performers
The best performing sector was Industrials adding 1.3 per cent to close at 4,871. The worst performing sector was Staples, losing 1.8 per cent to close at 8,342 points.
The best performing stock in the S&P/ASX 200 was Asciano, rising 8.47 per cent to close at $8.20. Shares in Southern Cross and Flexigroup also closed higher.
The worst performing stock was Dick Smith, dropping 10.32 per cent to close at 70 cents. Shares in Western Areas and Alumina also closed lower.
IPOs Enice Holding Company Limited
(ASX:ENC) started trading today. The wireless telecommunications technology company listed with an issue price of 40 cents, opened at 40 cents and closed at 34 cents.
Commodities and the dollar
The price of gold is trading at $US1,148 an ounce, and is down $20.88 over the week.
Light crude is up 12 cents to $US46.06 a barrel.
The Australian dollar is buying 71 US cents and is down 1.5 cents over the week.
