The local share market has finished the day in positive territory closing 0.45 per cent higher, but no thanks to BHP which was the biggest drag on the index following a downgrade to ‘sell’ by one broker. The financials space offered some support to the market, with ANZ the best performer there after it was upgraded to a ‘buy.’
The S&P/ASX 200 index closed 23 points higher to finish at 5,123.
The value of trades was $5 billion on volume of 750 million shares at the close of trade. The top three stocks by value were ANZ Banking Group
(ASX:ANZ), BHP Billiton Limited
(ASX:BHP) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is up 50 points.
Economic news
Consumer sentiment is on the ascent with the Westpac Melbourne Institute Index of Consumer Sentiment rising by 3.9% in November. This read marks only the third month out of the last twenty one months that optimists have outnumbered pessimists.
Company news Regeneus Limited
(ASX:RGS), a clinical stage regenerative medicine company, has announced the Australian Patent Office has granted a key patent covering the use of the company’s “off-the-shelf” stem cell technology. The technology is used for the treatment of osteoarthritis and other inflammatory conditions for human and animal applications. Shares in Regeneus closed 4.17 per cent lower at 12 cents.
DuluxGroup Limited
(ASX:DLX) reported an 11.5 percent increase in net profit to $124.7 million for the 12 months ended 30 September 2015.
Webjet Limited
(ASX:WEB) has announced market guidance of $33.5 million EBITDA this financial year.
TPG Telecom Limited
(ASX:TPM) has announced the launch of a fully underwritten institutional placement to raise $300 million.
AGL Energy Limited
(ASX:AGL) has appointed Doug Jackson to the position of Executive General Manager Group Operations.
Best and worst performers
The best performing sector was Healthcare adding 1 per cent to close at 19,110. The worst performing sector was Materials, losing 1.05 per cent to close at 7,574 points.
The best performing stock in the S&P/ASX 200 was Qube Holdings, rising 5.96 per cent to close at $2.31. Shares in Regis Resources and Mayne Pharma also closed higher.
The worst performing stock was OzForex, dropping 5.67 per cent to close at $2.66. Shares in Drillsearch and Pacific Brands also closed lower.
IPOs BWX Limited
(ASX:BWX) started trading today. The beauty and personal care company listed with an issue price of $1.50, opened at $2.12 and a closed at $2.26.
Commodities and the dollar
Gold is trading at $US1,093 an ounce.
Light crude is down 24 cents at $US43.63 a barrel.
The Australian dollar is buying 70.72 US cents.
