It was a bit of a lack lustre end to the first trading session of the week for the local share market, we closed in the black but only just, up 0.37 per cent. The star performer today was the financials space with all of the big four banks gaining ground, but it was ANZ and NAB that lead the charge, adding about 1.5 per cent. The energy space also had a positive session with Santos gaining more than 4 per cent and Origin Energy adding just over 2 per cent.
The S&P/ASX 200 index closed 19 points higher to finish at 5,186.
The value of trades was $4.6 billion on volume of 717 million shares at the close of trade. The top three stocks by value were Westpac Banking Corporation
(ASX:WBC), Commonwealth Bank of Australia
(ASX:CBA) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is down 2 points.
Company news Hub24 Limited
(ASX:HUB) has announced a new white label partnership with Lifespan Financial Planning. Lifespan is one of Australia’s largest privately owned financial planning networks, with over $1.5 billion in funds under advice. The arrangement will provide Lifespan’s network of representatives access to Hub24’s range of customized portfolios. Shares in Hub24 closed 2.3 per cent higher at $3.98.
Telstra Corporation Limited
(ASX:TLS) says it has been unable to reach an agreement with San Miguel Corporation over a wireless joint venture in the Philippines.
Fortescue Metals Group Limited
(ASX:FMG) has informed Riedel Resources Limited
(ASX:RIE) it will withdraw from a farm in and joint venture agreement on the Charteris Creek project.
Flight Centre Travel Group Limited
(ASX:FLT) says it has bought a small travel company in the Netherlands.
Best and worst performers
The best performing sector was Telcos adding 2 per cent to close at 1,931. The worst performing sector was REITs, losing 1.1 per cent to close at 1,336 points.
The best performing stock in the S&P/ASX 200 was Independence Group, rising 9.49 per cent to close at $3.23. Shares in Liquefied Natural Gas and Spotless Group also closed higher.
The worst performing stock was Northern Star, dropping 11.87 per cent to close at $3.49. Shares in Slater and Gordon and Evolution Mining also closed lower.
Commodities and the dollar
Gold is trading at $US1,255 an ounce.
Light crude is $0.60 higher at $US40.00 a barrel.
The Australian dollar is buying $US0.7590.
