Solid finish: Aus shares close 0.56% higher

Market Reports

by Carolyn Herbert

It has been a positive end to the trading week for the Australian share market, recouping some of its losses post the Easter break and closing the day 0.56 per cent higher. Utilities were the best performers this session, followed by gains in mining stocks and the big four banks. Not such a great day however for Telcos with some modest profit taking; staples and industrials also closed the day lower.

At the closing bell the S&P/ASX 200 index closed 33 points up to finish at 5,854, it was down 36 points over the week.

The value of trades was $4.8 billion on volume of 770 million shares at the close of trade. The top three stocks by value were Duet Group (ASX:DUE), Commonwealth Bank of Australia (ASX:CBA) and Rio Tinto Limited (ASX:RIO).

On the futures market the SPI is 42 points up.

Asian markets

The Nikkei is 1.1 per cent higher, Hong Kong’s Hang Seng is up 0.1 per cent and Shanghai Composite is 0.3 per cent lower.

Wall Street

US major indexes have risen over the three trading days this week: The Dow Jones Industrial Average has added 0.6 per cent. The S&P 500 Index has added 1.1 per cent. The NASDAQ has added 1.9 per cent. The 100 Index has added 1.65 per cent.

Company news

Sirtex Medical Limited (ASX:SRX) has gone into a trading halt pending the release of a market sensitive announcement. The liver cancer drug development company says the trading halt will provide it with time to review the presentation of the SARAH clinical results at the European Association for the Study of the Liver event in Amsterdam. Sirtex expects to make an announcement on Monday. Shares in Sirtex Medical last traded at $17.00.

Coca-Cola Amatil Limited (ASX:CCL) has announced weaker trading in Australian beverages year-to-date and is expecting a decline in net profit for H1 of 2017.

Australia and New Zealand Banking Group (ASX:ANZ) has announced it will redeem all of its $1.51 billion in Subordinated Notes on 20 June 2017.

Salt Lake Potash Limited (ASX:SO4) has announced its planning to build a Sulphate of Potash Pilot Plant in Western Australia.

Best and worst performers

The best performing sector was Utilities adding 2 per cent to close at 8,916. The worst performing sector was Staples, losing 0.65 per cent to close at 9,434 points.

The best performing stock in the S&P/ASX 200 was Duet Group (ASX:DUE), rising 9.45 per cent to close at $3.01. Shares in Western Areas (ASX:WSA) and Aconex (ASX:ACX) also closed higher.

The worst performing stock was Coca Cola Amatil (ASX:CCL), dropping 10.52 per cent to close at $9.61. Shares in Vocus Communications (ASX:VOC) and Fairfax (ASX:FXJ) also closed lower.


TinyBeans Group Limited (ASX:TNY) started trading today. The social media platform provider floated with an issue price of $1.00, opened at $1.20 and closed at $0.95.

Commodities and the dollar

Gold is trading at $US1,280 an ounce.
Light crude is $0.28 down at $US50.73 a barrel.
The Australian dollar is buying $US0.7535.


Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.