Back in the black: Aus shares close 0.86% higher

Market Reports

by Carolyn Herbert

It has been a solid finish to the Monday trading day for the Australian share market, pushing through the 5900 mark and closing the day 0.86 per cent higher. Almost all sectors finished the day in positive territory, except for Health Care which finished the day flat. The Materials space was the star performer with gains of almost 5 per cent in BHP Billiton (ASX:BHP), however many of the gold stocks suffered today. Utilities and Energy also performed well and we also saw some solid gains in all of the big four banks.

At the closing bell the S&P/ASX 200 index closed 50 points up to finish at 5,913.

The value of trades was $4.9 billion on volume of 652 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Worley Parsons (ASX:WOR), Commonwealth Bank of Australia (ASX:CBA).

On the futures market the SPI is 42 points up.

Asian markets

Tokyo’s Nikkei is 0.71 per cent higher, Hong Kong’s Hang Seng is practically flat and the Shanghai Composite is 0.56 per cent lower.

Economic news

The Australian Bureau of Statistics has reported that investment housing commitments fell 5.9 per cent for the month of February, seasonally adjusted. However the number of finance commitments for the construction of dwellings for owner occupation rose 1.7 per cent for the same month.

Company news

Nearmap Limited (ASX:NEA) has announced it has shipped the first completed full production HyperCamera2 unit to the United States. The HyperCamera2 complies with Federal Aviation Administration safety requirements, allowing for capture immediately. Nearmap says the camera enables the company to make oblique and 3D imagery available by subscription. Shares in Nearmap closed 1.85 per cent lower at $0.53.

Ardent Leisure (ASX:AAD) says its Bowling and Games business grew for the seventh consecutive quarter and Dreamworld remains on track for a recovery, despite significant rainfall in Queensland.

Michael Hill (ASX:MHJ) has announced its total store sales increased 5.5% for the 9 months to 31 March 2017.

OZ Minerals (ASX:OZL) has entered into a earn-in agreement in Portugal, targeting copper-gold mineralization.

Best and worst performers

The best performing sector was Materials adding 2.08 per cent to close at 10,182. The sector with least gains was Health Care, rising 0.02 per cent to close at 22,756 points.

The best performing stock in the S&P/ASX 200 was BT Investment (ASX:BTT), rising 6.11 per cent to close at $10.76. Shares in BHP Billiton (ASX:BHP) and Worley Parsons (ASX:WOR) also closed higher.

The worst performing stock was Orocobre (ASX:ORE), dropping 3.58 per cent to close at $2.96. Shares in Infigen Energy (ASX:IFN) and Vocus Communications (ASX:VOC) also closed lower.

IPOs

Moelis Australia Limited (ASX:MOE) started trading today. The financial services company floated with an issue price of $2.35, opened at $2.80 and closed at $2.90.

Commodities and the dollar

Gold is trading at $US1,255 an ounce.
Light crude is $0.62 higher at $US52.29 a barrel.
The Australian dollar is buying $US0.7494.




 

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?