The Australian share market’s start to the trading week has been a bit of a non-event, opening in the red but managing to claw back its losses throughout the session before closing flat. We saw a recovery in the big four banks as the day progressed, providing support to the index. Not such a good session however for the staples space with the likes of supermarket giant Woolworths shedding more than 2 per cent. The materials space finished the day strongly with small gains in the big miners BHP and Rio Tinto, as well as most gold stocks.
The S&P/ASX 200 index closed flat to finish at 5,431.
The value of trades was $3.8 billion on volume of 594 million shares at the close of trade. The top three stocks by value were BHP Billiton
(ASX:BHP), Commonwealth Bank
(ASX:CBA) and ANZ Banking Corporation
(ASX:ANZ).
On the futures market the SPI is 4 points down.
Company newsDiversa Group
(ASX:DVA) says the Federal Court of Australia has made orders approving the Scheme of Arrangement between Diversa and its shareholders. The Scheme, if implemented, will result in OneVue Holdings Limited acquiring 100 per cent of the shares in Diversa. Diversa expects to lodge a copy of the court orders with ASIC tomorrow at which time the scheme will become effective. Shares in Diversa Group closed 1.3 per cent higher at $0.78.
SAI Global Limited
(ASX:SAI) has announced it has entered into a binding Scheme Implementation Deed with Casmar Holdings, a wholly owned subsidiary of Baring Asia Private Equity.
IRESS
(ASX:IRE) has announced it will acquire Financial Synergy, an established provider of software to the Australian superannuation industry.
BPS Technology Limited
(ASX:BPS) has announced its North American Bartercard operations grew by 50 percent in one month.
Best and worst performersThe best performing sector was REITs adding 1.4 per cent to close at 1,437. The worst performing sector was Staples, losing 1 per cent to close at 8,933 points.
The best performing stock in the S&P/ASX 200 was SAI Global, rising 28.69 per cent to close at $4.62. Shares in Whitehaven Coal and APN Outdoor also closed higher.
The worst performing stock was Orocobre, dropping 3.3 per cent to close at $3.52. Shares in OzForex and Sandfire also closed lower.
Commodities and the dollarGold is trading at $US1,335 an ounce.
Light crude is $1.84 lower at $US44.48 a barrel.
The Australian dollar is buying $US0.7621.
