It’s been an uneventful start to the week for the local share market, we opened in positive territory but the market soon ran out of puff mid-way through the session and ended up closing flat or 0.1 per cent lower. The big banks were the biggest casuality in the end, and gains in the mining giants BHP and Rio Tinto was not enough to keep the index’s head above water. However, it was a good day for the gold miners and oil and gas producers.
The S&P/ASX 200 index closed 6 points lower to finish at 4,932.
The value of trades was $3.9 billion on volume of 547 million shares at the close of trade. The top three stocks by value were Link Admin Holdings
(ASX:LNK), Commonwealth Bank of Australia
(ASX:CBA) and National Australia Bank Limited
(ASX:NAB).
On the futures market the SPI is 3 points lower.
Company news TopBetta Limited
(ASX:TBH) has announced it has completed its strategic investment in Australian wagering technology company Modern Wagering Systems. As a result of this strategic investment, TopBetta has acquired a 12.5 per cent interest in MWS with an option to acquire a further 12.5 per cent within 12 months. Shares in TopBetta last traded at $0.19.
Telstra Corporation Limited
(ASX:TLS) says it has signed a $1.6 billion contract with NBN to provide planning and construction services.
Caltex Australia Limited
(ASX:CTX) has announced the successful completion of its $270 million off-market share buy-back.
3P Learning Limited
(ASX:3PL) has announced Rebekah O’Flaherty as Chief Executive Officer effective 11 July 2016.
Best and worst performers
The best performing sector was Energy adding 1.6 per cent to close at 7,566. The worst performing sector was Staples, losing 1.4 per cent to close at 8,097 points.
The best performing stock in the S&P/ASX 200 was St Barbara, rising 7.89 per cent to close at $2.46. Shares in Fortescue and Syrah Resources also closed higher.
The worst performing stock was Blackmores, dropping 13.2 per cent to close at $176.96. Shares in Crown Resorts and Bega Cheese also closed lower.
Commodities and the dollar
Gold is trading at $US1,249 an ounce.
Light crude is $2.46 higher at $US39.72 a barrel.
The Australian dollar is buying $US0.7552.
