The Aussie stock market has closed higher today with gains in the financials like major banks Westpac and NAB, on hopes of strength in bank earnings, helping to overshadow losses in resource stocks such as top miners BHP and Rio Tinto on a fall in commodity prices.
The S&P/ASX 200 Index finished 12 points higher at 4,911 while on the futures market, the SPI200’s up 10.
To company news around this afternoon: Takeover target Dioro Exploration NL (ASX:DIO) has rejected Ramelius Resources Ltd (ASX:RMS) takeover offer. Ramelius is offering 2.1 of its shares for every Dioro share, however Dioro’s board has unanimously recommended that shareholders do not accept Ramelius Resources offer. Avoca Resources (ASX:AVO) is also courting Dioro with an offer of $0.65 cash and 0.325 Avoca shares for each Dioro share. Dioro Exploration shares closed 0.39% lower at $1.265.
Iron ore explorer Centrex Metals Ltd (ASX:CXM) has announced that current Chairman David Lindh will not seek re-election at the company up-coming annual general meeting on Thursday after 14 years with the company. Mr David Klingberg, who has been a non-executive director of the company since April 2005 has been elected as Chairman. Centrex also announced that it has commenced drilling at the Cockabidnie, Tooligie and Wilgerup projects. Shares in Centrex Metals closed 6.47% weaker at $0.65.
Also making news: Singapore Airways budget offshoot Tiger Airways has reportedly priced its IPO at $S1.50 a share, with an expected $S248 million to be raised from the offering.
Syringe manufacturer Unilife Medical Solutions began trading on the ASX under its new name, Unilife Corporation (ASX:UNS) today. The company entered into a merger implementation agreement with Unilife Corporation or Unilife USA last year.
Gold miner Lihir Gold Ltd (ASX:LGL) announced today that Arthur Hood has resigned from his position of CEO.
And ASX listed Canadian agribusiness company Viterra (ASX:VTA), who last year acquired Australia’s ABB Grain for $1.6 billion, has appointed Rob Gordon as President of South East Asia and Senior Vice President of Viterra.
In the best and worst performers: The best performing sector today was the Financials Excluding Real Estate Investment Trust index, which was up 66 points to 5,714. The worst performing by percentage points was the Health Care index; which lost 75 points to 8,417.
The best performing stock in the S&P/ ASX200 was IOOF Holdings shares gained 7.14% to $6.45. Shares in Medusa Mining and Fairfax Media also improved.
The worst performing stock was Aquarius Platinum shares lost 4.51% to $7.41. Sims Metal Management and Energy World Corp shares also closed lower today.
In commodities, gold is trading at $1,134.40 U.S an ounce and light crude is down 25 cents at $77.75 U.S a barrel.
