It has been a positive end to the trading week for the Australian share market. While the local bourse struggled for direction in the first few hours of trade, towards the end of the session the ASX200 pushed higher breaking that 5,500 level and closing the day up 0.4 per cent. Utilities and telcos did the bulk of the heavy lifting this session with gains in Telstra and Vocus Communications. These gains however were offset by many mixed sectors including the materials and healthcare spaces.
At the closing bell the S&P/ASX 200 index closed 23 points up to finish at 5,508, gaining 148 points over the week.
The value of trades was $6.8 billion on volume of 907 million shares at the close of trade. The top three stocks by value were Tatts Group
(ASX:TTS), BHP Billiton
(ASX:BHP), and Commonwealth Bank
(ASX:CBA).
On the futures market the SPI is 20 points up.
US marketsLooking at Wall Street, US major indexes were mixed over the three trading days this week: The Dow Jones Industrial Average has added 1.1 per cent. The S&P 500 Index has added 1per cent. The NASDAQ lost 1.1 per cent. The 100 Index has retreated 0.95 per cent.
Company newsVita Group
(ASX:VTG) has agreed to changes to its commercial terms with strategic partner Telstra. Under the new terms the remuneration structure will change and there will also be additions to the group’s network of Telstra branded stores. The communications company says it will be hard to determine how the changes will impact on net earnings, but thinks volume will improve overall. Shares in Vita Group closed 16.5 per cent higher at $3.60.
BHP Billiton Limited
(ASX:BHP) has announced it has approved further financial support for Samarco in relation to last year’s fatal mine disaster in Brazil.
ANZ Banking Group
(ASX:ANZ) has announced it has reached an agreed settlement with the ACCC in relation to conduct associated with Non-Deliverable Forward FX contracts for the Malaysian Ringgit, undertaken in Singapore during 2011.
Ardent Leisure Group
(ASX:AAD) has announced Workplace Health and Safety Queensland have completed their inspections of rides at both Dreamworld and WhiteWater World.
Best and worst performersThe best performing sector was Utilities adding 1.35 per cent to close at 7,308. The worst performing sector was Healthcare, losing 0.2 per cent to close at 19,771 points.
The best performing stock in the S&P/ASX 200 was Tatts Group, rising 7.12 per cent to close at $4.21. Shares in Greencross and Ardent Leisure also closed higher.
The worst performing stock was Saracen Minerals, dropping 3.96 per cent to close at $0.97. Shares in Resolute Mining and Technology One also closed lower.
Commodities and the dollarGold is trading at $US1,178 an ounce and lost $30.32 over the week.
Light crude is $0.02 higher at $US47.98 a barrel.
The Australian dollar is buying $US0.7437 and is almost a cent higher over the week.
