It has been another stellar session for the local share market, opening in the black and charging upwards throughout the session, before closing 1.78 per cent higher. It was a sea of green across all sectors today, but it was the healthcare space that led the charge with the likes of CSL gaining 3.5 per cent and Ramsay Health Care gaining around 3 per cent. Also a strong day for the big four banks with NAB leading the charge, jumping around 2.8 per cent.
The S&P/ASX 200 index closed 91 points higher to finish at 5,233.
The value of trades was $6.6 billion on volume of 934 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), Westpac Banking Corporation
(ASX:WBC) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is up 92 points.
Economic newsJobs vacancies have fallen 1.9 per cent for the three months to May according to latest figures from the Australian Bureau of Statistics. 169,000 job vacancies were recorded for the period, which was a decrease of 3600 for the previous corresponding period. Also in economic news, latest data from the RBA shows private sector credit increased 0.4% in May, which came in just below economists’ expectations of a 0.5% increase. This is a slight decrease on the month of April’s 0.5 per cent gain.
Company newsAusdrill Limited
(ASX:ASL) has confirmed is has completed the sale of its Drilling Tools Australia business to Robit PLC with effect from today. Under the terms of the agreement Ausdrill will be paid a total of $66 million. Shares in Ausdrill closed 1.41 per cent higher at $0.72.
Kathmandu Holdings Ltd
(ASX:KMD) has announced positive earnings guidance for the 2016 FY. The outdoor adventure clothing company says that its Earnings Before Interest and Tax will be between $49 and $52 million.
Qantas Airways Ltd
(ASX:QAN) has announced a new promotion, following last week’s Brexit. It will be offering triple the Frequent Flyer points for passengers who book flights between Sydney and London.
Rio Tinto Limited
(ASX:RIO) has transferred its 53.8% shareholding in Bougainville Copper Limited
(ASX:BOC) to an independent trustee.
Best and worst performersThe best performing sector was Healthcare adding 3.4 per cent to close at 21,336. The sector with the least gains was REITs, adding 0.9 per cent to close at 1,467 points.
The best performing stock in the S&P/ASX 200 was Mayne Pharma, rising 35.99 per cent to close at $1.91. Shares in Seven Group and Western Areas also closed higher.
The worst performing stock was National Storage REIT, dropping 4.04 per cent to close at $1.66. Shares in St Barbara and BT Investment also closed lower.
IPOsChimp Change Limited
(ASX:CCA) started trading today. The mobile digital banking platform listed with an issue price of $0.80, opened at $0.765 and a closed at $0.56.
Commodities and the dollarGold is trading at $US1,315 an ounce.
Light crude is $2.03 up at $US49.88 a barrel.
The Australian dollar is buying $US0.7421.
