Following mixed overseas leads, the Australian share market opened lower. Despite a savage sell off in morning trade, BHP Billiton was able to trim losses and help push the local sharemarket into the black. Today’s rollercoaster session resulted it a 0.42 per cent gain.
Today, the S&P/ASX 200 index closed 22 points up to finish at 5,215, losing 24 index points over the week.
The value of trades was $5.2 billion on volume of 753 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Westpac Banking Corporation
(ASX:WBC) and ANZ Banking Group
(ASX:ANZ)
On the futures market the SPI is 27 points up.
US markets
US major indexes have risen over the four trading days this week: The Dow Jones Industrial Average has added 1.1 per cent. The S&P 500 Index has added 1 per cent. The NASDAQ has added 1.4 per cent. The 100 Index has added 1.15 per cent.
Company news
BHP Billiton Limited
(ASX:BHP) has continued to see losses following a serious incident at its part owned iron ore operation in Brazil. In a release to the ASX, BHP confirmed an incident had taken place at the mine it shares ownership of with Brazilian miner Vale. The miner added it was concerned for the safety of employees and the local community. Shares in BHP Billiton closed 2.49 per cent down at $22.70.
AP Eagers Limited
(ASX:APE) has acquired Birrell Motors Group. The businesses represent 12 car and truck brands across a number of locations in Tasmania and the eastern suburbs of Melbourne. The businesses employ 600 staff and expected revenue will be approximately $410 million. Shares in AP Eagers closed 2.55 per cent up at $10.87.
Ramsay Health Care
(ASX:RHC) confirmed subsidiary Ramsay Sime Darby Health Care has reached a framework agreement for a joint venture with Guangzhou Overseas Chinese Hospital also known as the Jinan University No. 1 Affiliated Hospital.
Asciano Limited
(ASX:AIO) revealed that Brookfield Infrastructure Partners has acquired 14.99 per cent of Asciano shares along with a further 4.3 per cent via way of an economic interest.
Best and worst performers
The best performing sector was Health Care adding 1.3 per cent to close at 19,001. The worst performing sector was Energy, losing 1.2 per cent to close at 8,837 points.
The best performing stock in the S&P/ASX 200 was Credit Corp Group, rising 11.55 per cent to close at $10.43. Shares in Asciano and Fortescue also closed higher.
The worst performing stock was Worley Parsons, dropping 5.61 per cent to close at $6.39. Shares in Blackmores and AWE also closed lower.
Commodities and the dollar
The price of gold is trading at $US1,108 an ounce, and is down $39.52 over the week.
Light crude is $0.93 lower at $US45.39 a barrel.
The Australian dollar is buying $0.7142 and is $0.0042 up over the week.
