The Aussie market has closed the session higher today with gains in the top miners like BHP and Rio Tinto and major energy companies like Woodside Petroleum and Santos helping to lift the market on the back of rising oil and metals prices.
The S&P/ASX 200 Index finished 54 points higher at 4,845 while on the futures market, the SPI200’s up 43.
To company news around this afternoon: Developer of products to treat respiratory diseases Pharmaxis Ltd (ASX:PXS) says the US Food and Drug Administration has informed the company that it cannot approve its New Drug Application for asthma treatment Aridol, in its current form. CEO Dr Alan Robertson says Pharmaxis looks forward to working with the FDA to satisfactorily address the matters raised and progress to approval as soon as possible. Pharmaxis says it filed a New Drug Application for Aridol in February, 2009 and following a meeting on November 20, 2009 the FDA’s Pulmonary-Allergy Drugs Advisory Committee voted to recommend the approval of Aridol. Pharmaxis shares closed 3.46 per cent lower at $2.79.
And according to a report in The Australian today, Macquarie Group Ltd (ASX:MQG) has acquired Integry’s Energy Group’s US Wholesale electric marketing and trading business. The paper reports global head of Macquarie’s energy-markets division, Nicholas O’Kane saying the transaction is consistent with Macquarie’s long-standing commitment to the commodities space and continues the growth of its energy markets division organically. Another report surfaced today that the company has been named by the British press as one of the final three bidders for the RBS Sempra Commodities business. Macquarie Group shares closed 0.35 per cent higher at $48.17.
Also making news: Junior exploration company Argo Exploration Ltd (ASX:AXT) has acquired a 6.86% strategic stake in oil and gas exploration and production company, Pantheon Resources Plc, listed on the London Stock Exchange’s Alternative Investment Market, for a total of $1.7 million.
Chalice Gold Mines Ltd (ASX:CHN) has sold its interest in the Wilga Joint Venture to AngloGold Ashanti Australia Ltd (ASX:AGG). The company says it has also subscribed for 1.6 million shares in UK based London Africa Ltd.
Supplier of agricultural chemicals Nufarm Ltd (ASX:NUF) today announced that it has terminated discussions with Sinochem in relation to a takeover of the company, rejecting the revised $2.62 billion offer and instead agreeing for Japan’s Sumitomo Chemical to acquire a 20% stake in Nufarm. The company has also announced that it will undertake a $250 million capital raising.
And gold producer Avoca Resources Ltd (ASX:AVO) has launched an unconditional takeover bid for Dioro Exploration NL (ASX:DIO) which values the company at $1.25 a share.
In the best and worst performers: All sectors closed in the black today however the sector with the biggest gain at close was the Consumer Staples index, which was up 124 points at 7,762. The sector with the smallest gain at close today was the Health Care index; which gained 6 points to 8,747.
The best performing stock in the S&P/ ASX200 was Energy World Corp shares gained 15.07% to $0.42. Shares in Spotless Group and OM Holdings also improved.
The worst performing stock was SMS Management and Technology shares dropped 2.59% to $5.65. Eastern Star Gas and JB Hi-Fi shares also closed lower today.
In commodities, gold is trading at $1,105.35 U.S an ounce and light crude is down 11 cents at $78.66 U.S a barrel.
