Mundane Monday: Aus shares close 0.18% lower

Market Reports

by Carolyn Herbert

It has been a really lack-lustre start to the trading week for the Australian share market, opening in the red and remaining underwater for the rest of the session, before closing 0.18 per cent lower. While most sectors finished the day in negative territory, REITs and Telcos bucked the trend closing the day in the black. Industrials proved to be the biggest drag on the market this session, followed by losses in Energy and Consumer Discretionaries.

At the closing bell the S&P/ASX 200 index closed 11 points down to finish at 5,795.

The value of trades was $5.3 billion on volume of 726 million shares at the close of trade. The top three stocks by value were Brambles Limited (ASX:BXB), Commonwealth Bank (ASX:CBA) and ANZ (ASX:ANZ).

On the futures market the SPI is 3 points down.

Company news

Brickworks Limited (ASX:BKW) has responded to media speculation in The Australian that states Brickworks and Boral are in talks about a potential transaction involving Boral’s roof tiles business. Brickworks says that while it has entered into some preliminary discussions from time to time with Boral, no agreement has been entered into with respect to this. Shares in Brickworks closed 0.63 per cent lower at $12.61.

Brambles Ltd (ASX:BXB) sales revenue rose 4 per cent to US$2.7 billion in actual-currency terms, however, its statutory NPAT fell 44 per cent to US$162.3 million for H1 2017.

Bluescope Steel (ASX:BSL) has reported its statutory NPAT was $359.1 million for H1 2017, up 79 per cent on the previous corresponding period.

NIB Holdings Ltd (ASX:NHF) has reported a 7.3 per cent increase in revenue to $995 million for H1 2017 and a 65 per cent increase in NPAT to $71.1 million.

Best and worst performers

The best performing sector was REITs adding 0.3 per cent to close at 1,380. The worst performing sector was Industrials, losing 1.8 per cent to close at 5,075 points.

The best performing stock in the S&P/ASX 200 was Bluescope Steel (ASX:BSL), rising 4.02 per cent to close at $12.68. Shares in Resolute Mining (ASX:RSG) and Treasury Wine Estates (ASX:TWE) also closed higher.

The worst performing stock was WorleyParsons (ASX:WOR), dropping 12.78 per cent to close at $8.60. Shares in Brambles (ASX:BSB) and Bapcor (ASX:BAP) also closed lower.

Commodities and the dollar

Gold is trading at $US1,234 an ounce.
Light crude is $0.08 lower at $US53.73 a barrel.
The Australian dollar is buying $US0.7678.


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