Following a solid lead from Wall Street after a bounce in the oil price overnight the local share market opened the session in positive territory and managed to stay afloat throughout the day, but only just, closing 0.15 per cent higher. The big miners proved to be the biggest drag on the market, but losses in the banks also brought down the index.
The S&P/ASX 200 index closed 8 points higher to finish at 5,117.
The value of trades was $3.6 billion on volume of 618 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), ANZ Banking Group
(ASX:ANZ) and BHP Billiton Limited
(ASX:BHP).
On the futures market the SPI is 2 points up.
Company news Ramsay Health Care
(ASX:RHC) has announced that following regulatory approval for the acquisition of the HPM Group , consisting of 9 hospitals in Lille, France, completion of the acquisition has now occurred. With this acquisition the company has now expanded its presence in the region to 11 facilities with more than 2000 employees and 700 doctors. Shares in Ramsay Health Care closed 0.98 per cent higher at $65.05.
Spotless Group
(ASX:SPO) has announced it has reached financial close on an amendment and extension to its existing $638 million syndicated debt facility at lower margins. The extension of the weighted average debt maturity has also been extended from 1.8 years to 3 years giving the company debt headroom and financial flexibility. Shares in Spotless Group closed 2.68 per cent lower at $1.09.
CIMIC Group Limited
(ASX:CIM) says its mining subsidiary Thiess has been awarded a $250 million contract to operate the QCoal Northern Hub mines in Queensland’s Bowen basin.
Saracen Mineral Holdings
(ASX:SAR) says its $65 million Thunderbox gold project in WA is moving along ahead of schedule.
Woolworths Limited
(ASX:WOW) has engaged eCargo Holdings Limited
(ASX:ECG) to provide support services to its retail operations in China.
Best and worst performers
The best performing sector was Industrials adding 1.1 per cent to close at 4,816. The worst performing sector was Materials, losing 0.42 per cent to close at 6,696 points.
The best performing stock in the S&P/ASX 200 was Slater and Gordon, rising 9.5 per cent to close at $0.98. Shares in Austal and Flight Centre also closed higher.
The worst performing stock was Mayne Pharma, dropping 4.15 per cent to close at $1.39. Shares in Karoon Gas and Oz Minerals also closed lower.
IPOs Micro-X Limited
(ASX:MX1) has started trading today. The x-ray product company floated with an issue price of $0.50, opened at $0.53 and closed at $0.60.
Commodities and the dollar
Gold is trading at $US1,077 an ounce.
Light crude is $0.25 lower at $US35.81 a barrel.
The Australian dollar is buying $US0.722.
