Energy excels: Aus shares close 0.55% higher

Market Reports

by Carolyn Herbert

It has been a positive end to the trading session for the local share market, following a solid lead from Wall Street and remaining in the black throughout the trading day before closing 0.55 per cent higher. The financials space did the bulk of the heavy lifting today with solid gains in all of the big four banks. We also saw a jump in the price of energy stocks with Santos gaining almost 3.5 per cent and Senex Energy jumping around 4 per cent. The gold miners were once again hit the hardest after the price of the precious metal dropped further overnight.

The S&P/ASX 200 index closed 30 points up to finish at 5,483.

The value of trades was $5.18 billion on volume of 814 million shares at the close of trade. The top three stocks by value were Telstra Corporation Limited (ASX:TLS), Commonwealth Bank of Australia (ASX:CBA) and BHP Billiton Limited (ASX:BHP).

On the futures market the SPI is 32 points up.

Company news

CIMIC Group’s (ASX:CIM) global mining services provider Theiss has expanded its operations into North America, securing new work in Canada. Theiss has established a joint venture with Edmonton-based contactor KMC Mining and will also be included on a panel to provide mining services in oil sands to a Canadian energy company. The agreement will generate potential revenue to the JV of around $840 million. Shares in CIMIC Group closed down 0.79 per cent at $27.60.

Bank of Queensland Ltd (ASX:BOQ) has announced that its statutory net profit (after tax) rose 6 per cent to $338 million in the full year ended 30 June 2016.

The Flight Centre Group (ASX:FLT) has further strengthened its presence in India by acquiring the Travel Tours Group in Bangalore.

News Corporation (ASX:NWS) wants to acquire one of the largest newspaper publishers in regional Queensland and northern NSW.

Best and worst performers

The best performing sector was Energy adding 1.97 per cent to close at 8,741. The worst performing sector was Telcos, losing 1.6 per cent to close at 1,813 points.

The best performing stock in the S&P/ASX 200 was Syrah Resources, rising 9.25 per cent to close at $3.66. Shares in Australian Pharmaceuticals and Ansell also closed higher.

The worst performing stock was Mantra, dropping 5.07 per cent to close at $3.18. Shares in Bluescope Steel and St Barbara also closed lower.

Commodities and the dollar

Gold is trading at $US1,265 an ounce.
Light crude is $1.01 higher at $US49.70 a barrel.
The Australian dollar is buying $US0.7604.






 

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