Market Wrap: Aus shares close 2.12% higher

Market Reports

Well the local share market has had a bumper session today, regaining most of yesterday’s heavy losses and closing the day 2.12 per cent higher. Mining stocks were the star performers today with BHP and Rio Tinto roaring up around 8 per cent. Energy stocks also had a stellar session after the price of Brent crude jumped overnight, with Santos and Oil Search leading the charge. 
 
The S&P/ASX 200 index closed 104 points higher to finish at 4,980. 
 
The value of trades was $5.4 billion on volume of 892 million shares at the close of trade. The top three stocks by value were CYBG PLC (ASX:CYB), Commonwealth Bank of Australia (ASX:CBA) and Macquarie Group (ASX:MQG)
 
On the futures market the SPI is 114 points higher.
 
Company news

Tabcorp Holdings (ASX:TAH) has reported a 33.1 per cent slump in net profit to $81.9 million for the first half of FY2016. Earnings per share came in at 9.9 cents, which was down 38.1 per cent on the previous corresponding period. The board has announced an interim dividend of 12 cents per share fully franked. Shares in Tabcorp closed 2.88 per cent lower at $4.39. 
 
Ansell Limited (ASX:ANN) has announced a reduction to full year FY16 earnings guidance to an earnings per share range of US$0.95 to US$1.10.
 
Telstra Corporation Limited (ASX:TLS) has announced that Stuart Lee, Group Executive Telstra Wholesale has stepped down from his role with the communications giant.
 
South32 Limited (ASX:S32) has announced the outcome of the South Africa Manganese strategic review and its intention to substantially reduce cash costs at a number of operations. 
 
Downer EDI Limited (ASX:DOW) has reported a slump in net profit for the half year to 31 December 2015.
 
Best and worst performers

The best performing sector was Materials adding 6.2 per cent to close at 6,458. The worst performing sector was Healthcare, losing 0.8 per cent to close at 19,278 points.
 
The best performing stock in the S&P/ASX 200 was South32, rising 14.21 per cent to close at $1.08. Shares in Western Areas and Santos also closed higher.
 
The worst performing stock was Programmed, dropping 35.44 per cent to close at $1.18. Shares in Ansell and Domino’s Pizza also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,142 an ounce.
Light crude is $2.87 higher at $US32.75 a barrel.
The Australian dollar is buying $US0.7177.