The Australian share market closed higher today, on the back of strong economic data and a pick up in confidence led by consumer discretionary stocks. The S&P/ASX 200 Index is up 37 points to finish at 4,533. And on the futures market, the SPI200 is up 35 points.
To company news around this afternoon: Woodside Petroleum Ltd (ASX:WPL) has confirmed its Browse liquefied natural gas development is on track to complete $1.25 billion of work by mid 2012. The statement from Woodside comes following the Western Australian Government’s decision to proceed with the compulsory acquisition of land in the Kimberly region’s gas precinct. Woodside advises the move will allow for an outcome to be negotiated and secured with the traditional owners, with the company proposing initiatives to support Indigenous people worth in excess of $1 billion. Shares in Woodside Petroleum closed 0.77% up at $43.23.
Fairfax Media Ltd (ASX:FXJ) has announced the completion of the boards renewal process, appointing two new directors, Michael Anderson and Greg Hywood. Mr Anderson comes from the radio industry, serving as CEO of Austereo for seven year until January this year. Mr Hywood has worked within the media and government and is a Walkley Award winning journalist. Shares in Fairfax Media closed 1.35% up at $1.50.
Sandfire Resources (ASX:SFR) has reported a full year loss of $29.5 million for the twelve months to 30 June 2010.
Grocery and hardware wholesaler Metcash Ltd (ASX:MTS) says it expects underlying earnings per share to grow between six to eight per cent in fiscal 2010.
Asciano Group (ASX:AIO) has announced the appointment of Angus McKay as Chief Financial Officer, following his resignation from Foster’s Group Ltd (ASX:FGL) today.
Mosaic Oil (ASX:MOS) says AGL Energy’s Ltd (ASX:AGK) proposed takeover of the oil and gas producer has been given the green light by an independent expert.
In the best and worst performers: All sectors closed in the black today, the best performing sector was the Real Estate Investment Trusts, with the index closing 11 points higher at 899. The sector with the smallest gain at close was the Industrials sector with the index rising 6 points to close at 3,557.
The best performing stock in the S&P/ ASX200 was Murchison Metals with shares closing 8.19% higher at $1.52. Shares in Equinox Minerals and Eastern Star Gas also closed higher. The worst performing stock was Gunns, shares closed 5.88% lower at $0.64. Shares in Eldorado CDI and Austar United Communications also closed weaker today.
In commodities, gold is trading at US$1246 an ounce.
Light crude is down $0.04 at US$73.87 a barrel.