After a horror session on Friday following Britain’s decision to leave the EU, the Australian share market has had a small bounce back this session and has closed 0.47 per cent higher. The telcos and the big miners were the best performers with BHP and Rio Tinto gaining around 3 per cent. Gold miners also continued on their winning streak thanks to their “safe haven” status. However it was another bad day for UK-exposed stocks such as CYBG, QBE and BT Investment which continued to get sold-off.
The S&P/ASX 200 index closed 24 points higher to finish at 5,137.
The value of trades was $5.7 billion on volume of 823 million shares at the close of trade. The top three stocks by value were Macquarie Group, Commonwealth Bank and BHP.
On the futures market the SPI is 8 points up.
Company newsCovata Limited
(ASX:CVT) says following extensive due diligence and ongoing go-to-market planning, Chunghwa and Covata have executed the contract that allows Taiwan’s largest Telco to sell Safe Share into their government and enterprise customer base. Covata also says the two companies have developed sales and marketing materials and identified first target customers. Shares in Covata closed 4.55 per cent down at $0.21.
Woodside Petroleum
(ASX:WPL) has announced its development of the Greater Enfield Project, a joint venture with Mitsui E&P Australia, has been approved.
Tatts Group Limited
(ASX:TTS) has announced it has sold its interest in Talarius Limited, its UK based slots business, to Novomatic UK Limited.
Mirvac Group
(ASX:MGR) has announced it has priced a long term US Private Placement notes issuance totaling approximately AU$536M.
Best and worst performersThe best performing sector was Telcos adding 2.2 per cent to close at 2,018. The worst performing sector was Financials excluding REITs, losing 0.8 per cent to close at 6,189 points.
The best performing stock in the S&P/ASX 200 was Fortescue Metals Group, rising 7.95 per cent to close at $3.53. Shares in St Barbara and Orora also closed higher.
The worst performing stock was Henderson Group, dropping 15.92 per cent to close at $3.75. Shares in BT Investments and CYBG also closed lower.
CommoditiesGold is trading at $US1,328 an ounce. Light crude is $2.47 down at $US47.64 a barrel. The Australian dollar is buying $US0.7411
