It has been a disappointing end to the session for the Australian share market. Depsite positive leads from US markets, the local bourse couldn’t find its feet and ended up closing the day under water or 0.14 per cent lower. The biggest casuality today was consumer discretionaries, and this was closely followed by losses in the telcos. Energy was the star performer after a jump in the price of oil overnight.
The S&P/ASX 200 index closed 8 points lower to finish at 5,532.
The value of trades was $4.8 billion on volume of 708 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Telstra Corporation Limited (ASX:TLS) and National Australia Bank Limited (ASX:NAB).
On the futures market the SPI is 6 points down.
Lithium Australia (ASX:LIT) says it has received support from the Western Australian government in the form of a grant for its Sileach lithium processing technology. The close to $200,000 grant will go towards commercializing the company’s low energy, low cost and exclusive Sileach processing technology to produce lithium extractions from lithium bearing silicates. Shares in Lithium Australia closed 2.13 per cent lower at $0.23.
Fisher & Paykel Healthcare Corporation Ltd (ASX:FPH) is suing medical technology company, ResMed Inc (ASX:RMD) in the United States courts for patent infringement.
Real estate investment trust, the SCA Property Group (ASX:SCP), has reported a net profit (after tax) of $184.7 million for the 2016 financial year.
Domino’s Pizza Enterprises Ltd (ASX:DMP) has reported its underlying net profit was $92 million in the 2016 financial year, exceeding its guidance.
Best and worst performers
The best performing sector was Energy adding 1.1 per cent to close at 8,667. The worst performing sector was Consumer Discretionaries, losing 1.1 per cent to close at 2,232 points.
The best performing stock in the S&P/ASX 200 was Orora, rising 4.29 per cent to close at $3.16. Shares in Whitehaven Coal and Asaleo Care also closed higher.
The worst performing stock was Mesoblast, dropping 16.16 per cent to close at $1.51. Shares in G8 Education and Genworth Mortgage also closed lower.
Aurora Labs Limited (ASX:A3D) started trading today. The 3D metal printer developer listed with an issue price of $0.20, opened at $0.54 and a closed at $0.50.
Commodities and the dollar
Gold is trading at $US1,349 an ounce.
Light crude is $1.19 higher at $US46.37 a barrel.
The Australian dollar is buying $US0.7703.