Market Wrap: Aus shares close 0.14% lower

Market Reports

Well it looks like we all got our hopes up too soon, when we thought our local market would have its first session in the black in 8 trading days; but after opening in positive territory, the market lost all momentum in afternoon trade and closed the day 0.14 per cent lower. The energy and materials space were to blame today, with shares in Santos getting hammered and BHP losing another 3 per cent to close just above $15.
 
The S&P/ASX 200 index closed 7 points lower to finish at 4,925. 
 
The value of trades was $4.8 billion on volume of 762 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 BHP Billiton Limited (ASX:BHP)
 
On the futures market the SPI is 13 points higher.
 
Economic news

Latest figures from the Reserve Bank of Australia have shown that Aussies are being careful with credit card spending. According to the RBA, the average outstanding card balance rose by 1.2 per cent in November, which is the smallest increase for that month in three years. In other news, Chinese visitors to Australia have topped 1 million for the year according to latest figures from the ABS. However New Zealand, still has the highest number of visitors, followed by the UK. 
 
Company news

Alcoa Inc (ASX:AAI) has reported a full year net loss of $121 million for FY2015. Revenue was $22.5 billion, which was down 6 per cent from 2014. The company has described the results as solid in the face of declining alumina and aluminum prices. Shares in Alcoa last traded at $12.10. 
 
Dick Smith Holdings (ASX:DSH) has announced that the Chief Executive Officer of the company Mr Nick Abboud tendered his resignation last night, effective immediately.
 
Whitehaven Coal (ASX:WHC) has reaffirmed H1 guidance reported to the market last month and will release its half year results on the 5th of February.
 
Indoor Skydive Australia Group Limited (ASX:IDZ) has completed the commissioning of the 12 foot indoor skydiving vertical wind tunnel at iFLY Gold Coast.
 
Best and worst performers

The best performing sector was Telcos adding 1.1 per cent to close at 1,937. The worst performing sector was Energy, losing 3.5 per cent to close at 7,301 points.
 
The best performing stock in the S&P/ASX 200 was Cabcharge, rising 4.32 per cent to close at $2.90. Shares in Spotless Group and Altium also closed higher.
 
The worst performing stock was Beach Energy, dropping 10.47 per cent to close at $0.39. Shares in Santos and LNG also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,097 an ounce. Light crude is $2.10 lower at $US32.22 a barrel.
The Australian dollar is buying $US0.6982.