It was a lack-lustre end to the trading session for the Australian share market, eroding most of its early gains and closing the day 0.24 per cent higher. After gaining ground in the first few hours of trade, the financials space namely the big four banks made a reverse turn and ended up closing the day between 0.3 and 0.9 per cent lower. The healthcare sector was the shining light this session buoyed by stellar gains in CSL Limited
(ASX:CSL) after the blood products giant upgraded its profit guidance.
At the closing bell the S&P/ASX 200 index closed 13 points up to finish at 5,692
The value of trades was $4.9 billion on volume of 733 million shares at the close of trade. The top three stocks by value were CSL Limited
(ASX:CSL), Duet Group
(ASX:DUE) and Commonwealth Bank of Australia
(ASX:CBA).
On the futures market the SPI is 7 points up.
Economic newsAccording to latest figures from the Australian Bureau of Statistics employment has increased for a third straight month. Monthly full-time trend employment increased by 7,000 in Australia in December, however the unemployment rate remained at 5.7 per cent.
Company newsGalaxy Resources Limited
(ASX:GXY) has secured a US$40 million debt facility with BNP Paribas for the principal purpose of repaying in full the current outstanfing balance due to OCP Asia and for general corporate purposes. The company says the facility will strengthen Galaxy’s balance sheet enabling increased financial flexibility. Drawdown is expected before the end of this month. Shares in Galaxy Resources closed 6.98 per cent lower at $0.60.
CSL Ltd
(ASX:CSL) has today upgraded its net profit after tax (NPAT) forecast for this financial year saying profit will grow 18 to 20 per cent.
Bega Cheese Ltd
(ASX:BGA) is set to acquire one of Australia’s most iconic brands, Vegemite.
AGL Energy Ltd
(ASX:AGL) has announced that it reached financial close for the sale of its Silverton wind farm project in western NSW.
Best and worst performersThe best performing sector was Healthcare adding 6.46 per cent to close at 20,863. The worst performing sector was REITs, losing 1.22 per cent to close at 1,331 points.
The best performing stock in the S&P/ASX 200 was Bega Cheese
(ASX:BGA), rising 15.18 per cent to close at $5.16. Shares in CSL Limited
(ASX:CSL) and Bluescope Steel
(ASX:BSL) also closed higher.
The worst performing stock was Galaxy Resources
(ASX:GXY), dropping 6.98 per cent to close at $0.60. Shares in and Vocus Communications
(ASX:VOC) and Viva Energy
(ASX:VVR) also closed lower.
Gold and the dollarGold is trading at $US1,203 an ounce.
Light crude is $1.08 lower at $US52.18 a barrel.
The Australian dollar is buying $US0.7519.
