Despite positive leads from US markets, our local share market struggled for direction this session closing the day flat. The big miners continued to lose, with BHP and Rio Tinto the biggest weight on the index.
The S&P/ASX 200 index closed 1 point lower to finish at 4,880. Over the week the index lost 73 points or 1.5%.
The value of tradeswas $5.9 billion on volume of 831 million shares
at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), Woolworths Limited
(ASX:WOW)and BHP Billiton Limited
(ASX:BHP).
On the futures marketthe SPI is 17 points up.
Wall Street US major indexes have gained over the four trading days this week: The Dow Jones Industrial Average has added 1.8 per cent. The S&P 500 Index has added 1.7 per cent. The NASDAQ has added 1.7 per cent. The 100 Index has added 1.8 per cent.
Company NewsWoolworths Limited
(ASX:WOW) reported $973 million loss in its half year results. Impairment charges and costs associated with its exit from its Masters Home Improvement business cost the company $1.89 billion. The supermarket giant also announced the appointment of internal candidate Brad Banducci as the new CEO and Managing Director.Shares in Woolworths closed 2.06 per cent up at $22.34.
Cabcharge Australia Limited
(ASX:CAB) has reported a 21.7 per cent slump in net profit to $24.4 million for the half-year to 31 December 2015. The company says the results reflect the decrease in revenue stemming from price limits on service fees imposed by the governments in NSW and WA. The company has declared a fully-franked ten cent dividend. Shares in Cabcharge closed 1.95 per cent downat $3.01.
Yowie Group Limited
(ASX:YOW)has experienced a 10 fold increase in revenue for the half year to 31 December 2015 to US$5.7 million.
Ausdrill Limited
(ASX:ASL) says it has responded well to challenging market conditions, reporting a net profit of $9.3 million in the half year to 31 December 2015.
Best and worst performersThe best performing sector was Telcos adding 1.4 per cent to close at 1921. The worst performing sector was Energy, losing 0.9 per cent to close at 7394 points.
The best performing stock in the S&P/ASX 200 was Breville Group, rising 12.3 per cent to close at $7.58. Shares in Costa Group Holdings and Seek also closed higher.
The worst performing stock was Super Retail Group, dropping 17.21 per cent to close at $8.32. Shares in Village Roadshow and Oz Minerals also closed lower.
Commodities and the dollarThe price of gold is trading at $US1,237 an ounce, and is up $7.06 over the week.
Light crude is $0.92 higher at $US33.07 a barrel.
The Australian dollar is buying $0.7240 and is 0.1c up over the week.
