It has been an uninspiring end to the trading session for the Australian share market, with the local bourse struggling for momentum throughout the session and closing the day 0.15 per cent higher. Most sectors were mixed today, but Utilities proved to be the biggest drag on the market. We also saw losses in Materials, in particular the iron ore plays with the likes of Fortescue
(ASX:FMG) shedding 5 per cent, and BHP Billiton
(ASX:BHP) and Rio Tinto
(ASX:RIO) down over 1 per cent. These losses were offset by gains in Industrials, Consumer Staples and Telcos.
At the closing bell the S&P/ASX 200 index closed 9 points higher to finish at 5,769.
The value of trades was $5.7 billion on volume of 816 million shares at the close of trade. The top three stocks by value were Westpac Banking Corporation
(ASX:WBC), Rio Tinto Limited
(ASX:RIO) and National Australia Bank Limited
(ASX:NAB).
On the futures market the SPI is up 4 points.
Asian marketsThe Nikkei is 0.69 per cent higher, Hong Kong’s Hang Seng is down 0.1 per cent and the Shanghai Composite is 0.6 per cent lower.
Company newsSirtex Medical Limited
(ASX:SRX) has appointed Andrew McLean as CEO, effective from the start of June. Mr McLean will return to Australia from the US for the role, following a global recruitment search by the liver cancer treatment company. Sirtex shares tumbled this month, when the company announced that its SIRFLOX study results failed to meet expectations. Shares in Sirtex Medical closed 1.42 per cent down at $11.81.
Dreamworld operator, Ardent Leisure
(ASX:AAD) says it is undertaking a number of reviews in its business, to transition the company to a pure play international firm.
Automotive Holdings Group Limited
(ASX:AHG) has acquired a majority stake in the wholesale platform, Carlins Auction Group.
ALS Limited
(ASX:ALQ) has announced its statutory net profit, attributable to shareholders rose to $81.6 million for the full year to 31 March 2017.
Best and worst performersThe best performing sector was Industrials adding 1.2 per cent to close at 5,755. The worst performing sector was Utilities, losing 0.8 per cent to close at 9,009 points.
The best performing stock in the S&P/ASX 200 was ALS Limited
(ASX:ALQ), rising 12.82 per cent to close at $6.60. Shares in Vocus Communications
(ASX:VOC) and Iluka Resources
(ASX:ILU) also closed higher.
The worst performing stock was Sigma Healthcare
(ASX:SIG), dropping 31.22 per cent to close at $0.82. Shares in Resolute Mining
(ASX:RSG) and St Barbara
(ASX:SBM) also closed lower.
Commodities and the dollarGold is trading at $US1,248 an ounce.
Light crude is $0.36 higher at $US51.49 a barrel.
The Australian dollar is buying $US0.7456.
