The Australian share market closed 0.8 per cent lower today, falling into the red this afternoon after weaker than expected inflation data. The consumer price index for the September quarter rose 0.7 per cent, coming in lower than expected.
The S&P/ASX 200 Index is down 40 points to finish at 4,648. On the futures market, the SPI200 is down 41 points.
To company news: Origin Energy Ltd (ASX:ORG) has delivered record September quarter production, up 45 per cent from the same time last year at 37 petajoules equivalent. In the period the energy producer also posted record sales revenues, rising 52 per cent to $230 million. Origin says the strong result is a reflection of earlier investments throughout the past years and the continuing growth in production from the coal seam gas fields. Shares in Origin Energy dropped 0.81 % to close at $15.97.
Macarthur Coal Ltd (ASX:MCC) has boosted profit guidance for the first half of the current financial year. The coal miner says it expects net profit between $115 million to $125 million for the six months to 31 December, significantly higher than the $39.6 million reported the same time last year. Macarthur attributes the positive forecast to higher US dollar sales prices, partially offset by a strong Australian dollar and slightly higher mining costs. Shares in Macarthur Coal closed 3.5% down at $12.13.
Shares in Toll Holdings Ltd (ASX:TOL) fell today following confirmation that managing director Paul Little will step down after almost 26 years in the top job. The transport and logistics company will now start searching for a replacement and hope to complete this transition by early 2012.
The Australian Competition and Consumer Commission has called on Sigma Pharmaceuticals Ltd (ASX:SIP) to provide information on competition issues arising from Aspen Pharmacare Holdings Ltd's $900 million bid for Sigma’s pharmaceutical division.
National Australia Bank Ltd (ASX:NAB) has recorded a 63 per cent jump in its full year net profit to $4.22 billion and also increased its second-half dividend to 78 cents fully franked.
Karoon Gas Australia (ASX:KAR) says it will raise between $US621 million to $US773 million through launching a share offering of its South American assets in Brazil.
In the best and worst performers: Most sectors closed in the red today. The best performing sector at close was Telco Services with the index up 6 points to 923. The worst performing sector was Industrials with the index closing down 73 points to 3,763. The best performing stock in the S&P/ ASX200 was ResMed shares were 4.43% stronger at $3.30. Shares in Infigen Energy and Aristocrat Leisure also closed higher. The worst performing stock was Lynas Corporation shares falling 6.73% to $1.455. Shares in Toll Holdings and Sandfire Resources also closed weaker today.
In commodities, gold is trading at $1335 US an ounce. And light crude is down $0.44 at $82.11 US a barrel.
