Market Wrap: Aus shares close 0.29% higher

Market Reports

The local share market has had a positive end to the week, opening in the black and managing to maintain that momentum throughout the session closing 0.29 per cent higher. The materials space was the star performer today with gains in the big miners BHP and Rio Tinto. Also a solid day for the energy space, with modest gains in Santos and Woodside. 
 
Today, the S&P/ASX 200 index closed 15 points higher to finish at 5,183. Over the week the index gained 17 points. 
 
The value of trades was $7.9 billion on volume of 1.45 billion shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and CSL Limited (ASX:CSL).
 
On the futures market the SPI is up 4 points.

US markets
 
Looking at Wall Street, US major indexes have all gained over the four trading days this week: The Dow Jones Industrial Average has added 1.5 per cent. The S&P 500 Index has gained 0.9 per cent. The NASDAQ has added 0.6 per cent. The 100 Index has added 0.9 per cent. 

Company news

Austal Limited (ASX:ASB) is pleased to announce that it has been awarded a US $13.97 million modification to a previously awarded Littoral Combat Ship contract by the US Department of Defense. Under the contract Austal USA will provide engineering and design services to reduce acquisition and lifecycle costs for the Independence variant LCS. Shares in Austal closed 0.34 per cent higher at $1.48. 
 
Sydney Airport Holdings Limited (ASX:SYD) says total passengers jumped 10 per cent in February. 
 
Rio Tinto Limited (ASX:RIO) says outgoing CEO Sam Walsh will be replaced by Jean-Sebastian Jacques. 
 
Best and worst performers

The best performing sector was Materials adding 1.7 per cent to close at 7,559. The worst performing sector was Healthcare, losing 1.1 per cent to close at 19,011 points.
 
The best performing stock in the S&P/ASX 200 was Northern Star, rising 8.83 per cent to close at $3.82. Shares in Costa Group and Evolution Mining also closed higher.
 
The worst performing stock was Liquefied Natural Gas, dropping 7.03 per cent to close at $0.59. Shares in Sirtex and Orora also closed lower. 

IPOs

N1 Holdings Limited (ASX:N1H) started trading today. The residential mortgage broking company floated with an issue price of $0.20, opened at $0.23 and closed at $0.22.    
 
Commodities

The price of gold is trading at $US1,263 an ounce, and is up $4.38 over the week.
Light crude is $1.67 higher at $US41.67 a barrel.
The Australian dollar is buying US$0.7641 and is up 0.76 of a cent over the week. 

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