Well the Australian share market has managed to finish the day just in the black despite bobbing in and out of negative territory throughout the session. At the final bell, the local bourse closed flat thanks to some strong support from the Energy and Materials sectors. Healthcare which was one of the best performers last week has made an about term, with heavyweights CSL and Cochlear dragging the space down.
The S&P/ASX 200 index closed 3 points up to finish at 5,535.
The value of trades was $5.9 billion on volume of 773 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 CSL Limited
(ASX:CSL).
On the futures market the SPI is 20 points up.
Economic newsAccording to latest figures from the Australian Bureau of Statistics wages growth in Australia has continued to stagnate. The wage price index for the June quarter showed annual private sector wages only increased by 1.9 per cent. This was compared to a 2.3 per cent increase in public sector wages.
Company newsVicinity Centres
(ASX:VCX) has experienced a jump in FY16 net profit to $960.9 million compared to $675.1 million in the previous corresponding period. The company’s underlying earnings were also up 9.5 per cent to $757.5 million. Distribution per security was 17.7 cents for FY16, up 4.7 per cent on last year. Shares in Vicinity Centres closed 1.18 per cent down at $3.34.
New Zealand’s largest construction firm, Fletcher Building Ltd
(ASX:FBU), has reported a 71 rise in net profit to $462 million in FY16.
QBE Insurance Group Ltd
(ASX:QBE) has declared its interim net profit fell by 46 per cent to $265 million in the 2016 financial year.
Blood products company, CSL Ltd
(ASX:CSL), has announced its underlying net profit (after tax) fell by 18% to $US1.24 billion for the 2016 financial year.
Best and worst performersThe best performing sector was Energy adding 1.9 per cent to close at 8,832. The worst performing sector was Healthcare, losing 1.9 per cent to close at 22,244 points.
The best performing stock in the S&P/ASX 200 was Domino’s, rising 8.08 per cent to close at $80.10. Shares in Mesoblast and Sonic Health also closed higher.
The worst performing stock was Spotless Group, dropping 10.57 per cent to close at $1.02. Shares in QBE Insurance and Evolution Mining also closed lower.
Commodities and the dollarGold is trading at $US1,344 an ounce.
Light crude is $0.82 up at $US47.22 a barrel.
The Australian dollar is buying $US0.7676.
