Market Wrap: Aus shares close 0.69% higher

Market Reports

Following positive leads from Wall Street on the back of a jump in energy stocks, the local bourse opened in positive territory and managed to keep that momentum throughout the session closing the day 0.69 per cent higher. As expected, the energy space was the star performer today with broad based gains across the sector, in particular in Santos and Woodside. 
 
The S&P/ASX 200 index closed 37 points higher to finish at 5,396. 
 
The value of trades was $4.9 billion on volume of 723 million shares at the close of trade. The top three stocks by value were National Australia Bank Limited (ASX:NAB), Macquarie Group (ASX:MQG) and BHP Billiton Limited (ASX:BHP)
 
On the futures market the SPI is up 55 points.
 
Economic news

The latest RBA minutes have revealed that the central bank was reluctant to cut rates at its May meeting. Two weeks ago the RBA cut interest rates to a record low of 1.75 per cent, despite members discussing the possibility of holding off for a bit longer. 
 
Company news

CIMIC Group (ASX:CIM) companies Pacific Partnerships and CPB Contractors have been awarded stage 1 of Canberra’s light rail project, Capital Metro by the ACT government. Stage 1 of Capital Metro will generate revenue to CIMIC of approximately $300 million over the design and construction period and $300 million over the 20 year concession period. Shares in CIMIC Group closed 0.85 per cent higher at $38.10. 
 
Murray Goulburn Co-operative Co Limited (ASX:MGC) has announced that a class action has been filed against it and a number of current and former directors in the Supreme Court of Victoria.
 
DuluxGroup Limited (ASX:DLX) has reported a NPAT of $63.7 million for the six months to 31 March 2016, which it says is an increase of 3.7%.
 
Spookfish Limited (ASX:SFI) has entered into a product agreement with EagleView Technologies Inc, which is owned by Vista Equity Partners, a large private equity firm.
 
Best and worst performers

The best performing sector was Energy adding 3.1 per cent to close at 8,260. The worst performing sector was Financials excluding REITS, losing 0.03 per cent to close at 6,700 points.
 
The best performing stock in the S&P/ASX 200 was Bluescope, rising 9.29 per cent to close at $6.00. Shares in Fortescue Metals and Independence Group also closed higher.
 
The worst performing stock was GUD Holdings, dropping 6.13 per cent to close at $8.73. Shares in Austal and FlexiGroup also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,276 an ounce.
Light crude is $1.52 higher at $US48.42 a barrel.
The Australian dollar is buying $US0.7347.