The local share market has closed the session steady today after slipping in and out of the red, with investors remaining jittery following a debt downgrade for Greece.
The S&P/ASX 200 Index finished flat at 4,505. And on the futures market, the SPI200’s down 4 points.
To company news around this afternoon: Wesfarmers Ltd (ASX:WES) has warned its shareholders that their dividends may be threatened by the federal government’s planned Resource Super Profits Tax. In a letter to shareholders today, Chairman Bob Every said the proposed tax would have an impact on the conglomerate that goes beyond its coal mining operations. Mr Every said Wesfarmers’ resources division paid an effective tax rate of 41% last year. But he said the company’s concerns about the tax were not just related to the rate itself, but also to its design, the consultation process and sovereign risk. Shares in Wesfarmers closed 0.03% lower at $28.81.
Maryborough Sugar Factory Ltd (ASX:MSF) says it is one step closer to forming a joint venture with Bundaberg Sugar Ltd following advice from the Foreign Investment Review Board. Maryborough Sugar chief Mike Barry says the company is now in a position to move on to the next stage of the joint venture process and hopes to complete the transaction in time for the 2011 sugar crushing season. The two companies announced the 50/50 joint venture earlier this year covering sugarcane milling in far north Queensland. Mr Barry says the joint venture will allow investors to reap the benefits from the growing demand out of Asia for raw sugar. Shares in Maryborough Sugar Factory closed steady at $1.75.
Also making news: Biotechnology company Healthlinx Ltd (ASX:HTX) has been given the green light from the Victorian government to trial a new test it has developed for the early detection of ovarian cancer, called OvPlex.
Oil and gas explorer Buru Energy Ltd (ASX:BRU) has struck a deal with Japan’s Mitsubishi Corporation involving its Canning Superbasin project in the Kimberley region of Western Australia. Under the deal, Mitsubishi can earn a 50% stake in the majority of Buru’s exploration permits by spending up to $152 million on exploration and development.
Ports and rail operator Asciano Group (ASX:AIO) has secured a coal haulage contract in Queensland.
And Aquila Resources Ltd (ASX:AQA) says a budget dispute has arisen with Brazil’s Vale in relation to the Eagle Downs Hard Coking Coal project.
In the best and worst performers: The best performing sector at close was the Real Estate Investment Trust index, up 7 points at 889. The worst performing sector today was the Consumer Discretionary index, down 9 points at 1,519.
The best performing stock in the S&P/ ASX200 was Isoft Group, shares rose 20.41% to $0.295. Shares in Biota Holdings and Gunns also closed higher.
The worst performing stock was AWE, shares fell 4.23% to close at $2.04. Shares in GWA and APN News & Media also closed weaker today.
In commodities, gold is trading at $1,223.15 U.S an ounce, and light crude is down $0.21 at $74.91 U.S a barrel.
