It has been a lack lustre end to the trading session for the Australian share market, struggling for direction and closing the day practically flat or 0.01 per cent lower. Sectors across the ASX200 were mixed today, with losses in Consumer Staples and REITs offsetting gains in Telcos and the Healthcare space.
At the closing bell the S&P/ASX 200 index closed flat at 5,667.
The value of trades was $6.2 billion on volume of 879 million shares at the close of trade. The top three stocks by value were ANZ Banking Group
(ASX:ANZ), BHP Billiton Limited
(ASX:BHP) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 8 points higher.
Asian marketsTaking a look at how Asian markets are tracking in afternoon trade. The Nikkei is flat, Hong Kong’s Hang Seng is 0.2 per cent lower and the Shanghai Composite is 0.98 per cent higher.
Economic newsLatest figures from the Australian Bureau of Statistics show the Australian economy slowed in the March quarter to 0.3 per cent, seasonally adjusted. However through the year, GDP grew 1.7 per cent. The strongest growth was observed in service industries including Finance and Insurance Services, Wholesale Trade, and Health Care.
Company newsSurfStitch Limited
(ASX:SRF) says it has received correspondence from Gadens Solicitors threatening to commence a further open class action against the company. The embattled surf wear retailer says the further class action, is on the same basis as that already commenced two weeks ago. SurfStitch says the filing of a second class action would be an abuse of process and has responded to Gadens on that basis. Shares in SurfStitch Limited last traded at $0.068.
Vocus Group Limited
(ASX:VOC) has received a proposed takeover offer from a global investment manager, to buy 100 per cent its shares for $3.50 cash per share.
Rio Tinto Limited
(ASX:RIO) has announced it will reduce its gross debt by $781 million through cash tender offers.
AGL Energy Limited
(ASX:AGL) is set to invest $295 million in the development of a new power station in South Australia.
Best and worst performersThe best performing sector was Telcos adding 0.87 per cent to close at 1,562. The worst performing sector was Consumer Staples, losing 1.55 per cent to close at 9,094 points.
The best performing stock in the S&P/ASX 200 was Vocus Group
(ASX:VOC), rising 21.68 per cent to close at $3.48. Shares in Resolute Mining
(ASX:RSG) and Whitehaven Coal
(ASX:WHC) also closed higher.
The worst performing stock was Sky Network
(ASX:SKT), dropping 3.92 per cent to close at $3.19. Shares in Blackmores
(ASX:BKL) and Infigen Energy
(ASX:IFN) also closed lower.
Commodities and the dollarGold is trading at $US1,292 an ounce.
Light crude is $0.58 higher at $US47.98 a barrel.
The Australian dollar is buying $US0.7540.
