Market Wrap: Aus shares close 0.54% higher

Market Reports

It was a rather topsy-turvy session for the local share market today after a flat close on Wall Street on Friday. The local bourse dipped on the open but managed to find some momentum in afternoon trade, closing the day 0.54 per cent higher. The energy space has been the star performer this session with gains across the board, with Origin Energy and Santos leading the charge. Three out of the big four banks finished the day higher with the exception of ANZ. 
 
The S&P/ASX 200 index closed 29 points higher to finish at 5,321. 
 
The value of trades was $4.9 billion on volume of 668 million shares at the close of trade. The top three stocks by value were ANZ Banking Group (ASX:ANZ), Commonwealth Bank of Australia (ASX:CBA) and Westpac Banking Corporation (ASX:WBC)
 
On the futures market the SPI is up 64 points.
 
Economic news

Latest figures from ANZ on job ads have revealed a slide in internet and newspaper ads for the month of April of 0.8 per cent. This is compared to a 6.3 per cent increase in job ads for the same time last year. 
 
Company news

AngloGold Ashanti (ASX:AGG) says despite repeated attempts by the company to have Ghanaian authorities restore law and order to the Obuasi mine, the security situation on the site continues to deteriorate. To protect and enforce its contractual rights in the face of increasing lawlessness, AngloGold Ashanti Ghana has been forced to invoke the dispute resolution provisions in its mining lease. 
Shares in AngloGold Ashanti closed 5.69 per cent higher at $4.46. 
 
Commonwealth Bank of Australia (ASX:CBA) has advised its unaudited cash earnings for the third quarter were $2.3 billion.  
 
Air New Zealand Limited (ASX:AIZ) has announced it has agreed to settle a class action compensation claim in the US relating to a 2006 civil compensation claim
 
Decmil Group Limited (ASX:DCG) has announced its subsidiary, Decmil Australia has been awarded $46 million in contracts from the Department of Defence.
 
Best and worst performers

The best performing sector was Staples adding 1.7 per cent to close at 8,653. The worst performing sector was Materials, losing 0.6 per cent to close at 7,905 points.
 
The best performing stock in the S&P/ASX 200 was News Corp, rising 7.58 per cent to close at $17.75. Shares in Cleanaway and Whitehaven Coal also closed higher.
 
The worst performing stock was Orica, dropping 12.31 per cent to close at $13.53. Shares in Sky Network and Incitec Pivot also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,282 an ounce.
Light crude is $0.12 higher at $US44.66 a barrel.
The Australian dollar is buying $US0.7373.
 
 
 
 

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