It has been another stellar end to the trading session for the Australian share market today, surging higher and jumping 1.3 per cent at the close. The materials space continued to rally this session, with the big miners BHP and Rio Tinto both jumping around 2.5 per cent. Investors are also continuing to pile into the big four banks, with CBA cracking the $78 mark. The healthcare space spent the day in the doldrums with Resmed, CSL and Cochlear giving back gains from earlier this week.
At the closing bell the S&P/ASX 200 index closed 71 points up to finish at 5,484.
The value of trades was $5.3 billion on volume of 814 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP) , Commonwealth Bank of Australia
(ASX:CBA), and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 73 points up.
Company newsTransurban Holdings Limited
(ASX:TCL) says the Queensland government has approved its $512 million Logan Enhancement Project. The project will see the delivery of major upgrades to parts of the Logan and gateway extension motorways, including the elimination of key congestion points. Transurban estimates the project will generate 1,300 direct construction jobs and more than $1.3 billion in economic benefits. Shares in Transurban closed 3.3 per cent higher at $10.33.
Elders Ltd
(ASX:ELD) has entered a contract with QBE to acquire from it an additional 10% stake in Elders Insurance.
CIMIC Group Ltd’s
(ASX:CIM) mining services provider, Thiess, has secured a 5-year contract expansion and extension at the Melak Coal Mine in East Kalimantan, Indonesia.
Downer EDI
(ASX:DOW) says the consortium of which it is a part, has achieved contractual close on the Victorian Government's $2 billion High Capacity Metro Trains (HCMT) project.
Best and worst performersThe best performing sector was Industrials adding 2.2 per cent to close at 5,129. The worst performing sector was Healthcare, losing 0.04 per cent to close at 19,760 points.
The best performing stock in the S&P/ASX 200 was Webjet, rising 9.74 per cent to close at $10.48. Shares in Galaxy Resources and Japara Healthcare also closed higher.
The worst performing stock was Fisher Paykel Health, dropping 6.72 per cent to close at $7.77. Shares in Southern Cross Media and CYBG also closed lower.
Commodities and the dollarGold is trading at $US1,214 an ounce.
Light crude is $0.34 lower at $US47.90 a barrel.
The Australian dollar is buying $US7433.
