It was a very positive start to the trading week for the local share market, opening well in the black and maintaining that momentum throughout the session to close 1.84 per cent higher. It was a sea of green across the screen today, with gains in the big four banks supporting the index. However, not such a good day for mining giant Rio Tinto which closed in the red.
The S&P/ASX 200 index closed 91 points up to finish at 5,007.
The value of trades was $3.9 billion on volume of 642 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), BHP Billiton Limited
(ASX:BHP) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 75 points up.
Company news
Fantastic Holdings Limited
(ASX:FAN) says sales revenue is expected to be around $270 million for the group, representing like for like sales growth of 15.7 per cent. Revenue in the previous corresponding period was $244 million. The company expects to report net profit after tax of $10 to $12 million. Shares in Fantastic Holdings closed 2.7 per cent lower at $1.80.
Beach Energy Limited
(ASX:BPT) has revised its production guidance and managed to reduce capital expenditure.
Lucapa Diamonds Limited
(ASX:LOM) says they have achieved an average selling price of $2,360 per carat for its latest parcel of diamonds.
REFFIND Limited
(ASX:RFN) has signed a referral relationship agreement with ADP, a leading global provider of Human Capital Management Solutions.
Avita Medical
(ASX:AVH) has implemented a Long Term Incentive Plan for its CEO Mr Adam Kelliher in accordance with the Employee Share Plan approved at the company’s general meeting in August last year.
Best and worst performers
The best performing sector was Energy adding 3.5 per cent to close at 7,241. The sector with the least gains was REITs, adding 0.7 per cent to close at 1,290 points.
The best performing stock in the S&P/ASX 200 was Slater and Gordon, rising 18.64 per cent to close at $0.70. Shares in Liquefied Natural Gas and Beach Energy also closed higher.
The worst performing stock was Treasury Wines, dropping 5.17 per cent to close at $8.80. Shares in Sandfire and Oz Minerals also closed lower.
Commodities and the dollar
Gold is trading at $US1,102 an ounce.
Light crude is $2.66 higher at $US32.19 a barrel.
The Australian dollar is buying $US0.7027.
