The local share market has closed virtually flat this afternoon after trading in the red for most of the day, dragged down by weaker commodity prices and a negative lead from Wall Street.
The S&P/ASX 200 Index finished just 1 point higher at 4,718 while on the futures market, the SPI200 is up 16 points.
To company news around this afternoon: APN News & Media Ltd (ASX:APN) has booked a jump in profit to $92.6 million for the 2009 full year, after reporting a loss the year prior. However, revenue fell 14.1% to $1.05 billion due to challenging conditions within the media industry and the global financial crisis. The newspaper publisher and radio station operator says the result is in line with expectations, and reflects its efforts to manage costs and improve sales campaigns throughout the year. CEO Brendan Hopkins says he is cautiously optimistic about the outlook for 2010 based on early trading. APN News & Media shares closed 2.92% weaker at $2.33.
Real estate investment trust GPT Group Ltd (ASX:GPT) has posted a loss of $1.1 billion for 2009 following another difficult year for the company. However, the result is an improvement on the $3.25 billion loss the company reported a year before, and the underlying result is above analyst expectations. The company recorded operating income of $375.8 million for the 12 months to December, 2009, and a cash distribution of 4.5 cents per security for the year. CEO Michael Cameron says the group exceeded expectations relative to its objectives for 2009, and has an extensive development pipeline and strong growth opportunities. Shares in GPT Group closed 0.84% higher at $0.60.
Also making news: Salmon farmer Tassal Group Ltd (ASX:TGR) has delivered a dip in first half profit to $15.1 million, down 8% from the same period a year before, but says it is well placed to pursue growth.
Shares in Telstra Corporation Ltd (ASX:TLS) fell below $3 today for only the second time since the company listed a decade ago. The fall comes on the back of disappointing earnings results and as the six month ban on the Future Fund selling its stock is lifted.
Consolidated Media Holdings Ltd (ASX:CMJ) has reported a statutory net profit after tax of $346.2 million for the first half of fiscal 2010, down 11.6% on the first half of fiscal 2009.
And mining giant Rio Tinto Ltd (ASX:RIO) has opened a new mine at Robe Valley in the Pilbara of Western Australia.
In the best and worst performers: The best performing sector at close was the Real Estate Investment Trust index, up 9 points at 865. While the worst performing sector was the Telco Services index; which fell 5 points at 1,030.
The best performing stock in the S&P/ ASX200 was Charter Hall Group, shares gained 6.25% to $0.68. Shares in Ausenco and Iress Market Technology also improved.
The worst performing stock was St Barbara, shares fell 8.33% to $0.22. Shares in Isoft Group and Biota Holdings also closed lower today.
In commodities, gold is trading at $1,117.15 U.S an ounce and light crude is down 24 cents at $80.07 U.S a barrel.
