It has been a stellar finish to the Tuesday trading session for the Australian share market. After opening in the black the local bourse picked up momentum throughout the session, put pulled back slightly towards the end of trade closing 0.52 per cent higher. The financials space, namely the big four banks, along with utilities were the sectors running hot today. The energy space along with materials fared the worst after commodity prices stumbled overnight, albeit the losses were relatively small.
At the closing bell the S&P/ASX 200 index closed 29 points up to finish at 5,591.
The value of trades was $5.4 billion on volume of 823 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 ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is 22 points up.
Company newsAlcoa World Alumina and Chemicals, the world’s largest bauxite miner, 40 per cent owned by Alumina Limited
(ASX:AWC) has secured a third party contract to supply approximately 400,000 metric tonnes of bauxite from its Huntly mine in Western Australia. The WA state government has also approved Alcoa to export up to 2.5 million tonnes per annum for five years. Shares in Alumina closed 1.14 per cent up at $1.77.
Bank of Queensland
(ASX:BOQ) will acquire Centrepoint Alliance Ltd’s
(ASX:CAF) Premium Funding business for $20 million, which it sees as a natural extension to its BOQ Finance business.
S&P Global Ratings has upgraded Fortescue Metals Group’s
(ASX:FMG) issuer credit rating to BB+, following the company’s recent debt repayments.
The Australian Competition and Consumer Commission (ACCC) has announced it plans to block a strategic partnership between Alliance Aviation
(ASX:AQZ) and Virgin Australia in the Western Australia chartered flights market.
Best and worst performers The best performing sector was Utilities adding 1.35 per cent to close at 7,827. The worst performing sector was Energy, losing 0.4 per cent to close at 8,894 points.
The best performing stock in the S&P/ASX 200 was Regis Resources, rising 7.69 per cent to close at $2.52. Shares in Seven West Media and Newcrest Mining also closed higher.
The worst performing stock was Bega Cheese, dropping 6.73 per cent to close at $3.88. Shares in Syrah Resources and BT Investment also closed lower.
Commodities and the dollarGold is trading at $US1,136 an ounce.
Light crude is $0.19 higher at $US53.14 a barrel.
The Australian dollar is buying $US72.49.
