The Australian share market has closed its first session of the trading week 0.92 per cent lower, after falling at the open and being unable to regain any kind of real momentum throughout the session. Today, all sectors finished the day in the red, but the healthcare space fared the worst, with heavyweights CSL Limited
(ASX:CSL) and Cohclear
(ASX:COH) both losing over 1 per cent. The utilities space fared the best followed by the materials sector, after the big miners recouped some losses late in the session.
At the closing bell the S&P/ASX 200 index closed 53 points down to finish at 5,662.
The value of trades was $4.1 billion on volume of 612 million shares at the close of trade. The top three stocks by value were QBE Insurance
(ASX:QBE), CSL Limited
(ASX:CSL) and Commonwealth Bank of Australia
(ASX:CBA).
On the futures market the SPI is 49 points lower.
Company newsQBE Insurance Limited
(ASX:QBE) has responded to media speculation regarding possible corporate interest in the insurer. The company says despite reports, it is not in talks with Allianz or any other potential buyer. QBE has reaffirmed that it is fully aware of its continuous disclosure obligations. Shares in QBE closed 0.16 per cent higher at $12.35.
Freedom Foods Group
(ASX:FNP) has formed a strategic partnership with Seamild Group in China.
Warrnambool Cheese and Butter Factory Co Holdings Limited
(ASX:WCB) has received a takeover offer from Saputo Dairy Australia.
Oz Minerals Limited
(ASX:OZL) has announced its copper and gold production has increased in Q4 2016.
Best and worst performersThe sector with the least losses was Utilities losing 0.5 per cent to close at 7,961. The worst performing sector was Healthcare, losing 1.4 per cent to close at 20,732 points.
The best performing stock in the S&P/ASX 200 was Resolute Mining
(ASX:RSG), rising 2.81 per cent to close at $1.47. Shares in Northern Star Resources
(ASX:NST) and Bellamy’s
(ASX:BAL) also closed higher.
The worst performing stock was Aconex
(ASX:ACX), dropping 45.13 per cent to close at $3.10. Shares in Orocobre
(ASX:ORE) and Spotless Group
(ASX:SPO) also closed lower.
Commodities and the dollarGold is trading at $US1,194 an ounce.
Light crude is $0.54 down at $US53.20 a barrel.
The Australian dollar is buying $US0.7553.
