It has been a volatile day of trade for the Australian share market. The ASX200 defied mostly positive leads from Wall Street and fell sharply at the open after US Crude oil prices fell overnight. But when the ABS reported a recovery in Australia’s trade surplus, to almost $2.5 billion, the local bourse managed to gain momentum, push higher and claw back the early losses, before closing pretty much flat, down 0.08 per cent.
Most of today’s shine came from the Healthcare sector, which rose over 1 per cent, followed by Utilites, which rose almost 1 per cent.
Just under half of the sectors traded in the red, with Telcos, Financials, Energy and Industrials taking most of the selling. It is also important to note, though the oil price recovered some of its losses, it is still weak.
At the closing bell the S&P/ASX 200 index closed almost 5 points lower (4.5) to finish at 5,759.
The value of trades was $5.1 billion on volume of 721 million shares at the close of trade.
The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Commonwealth Bank of Australia
(ASX:CBA) and Westpac Banking Corporation
(ASX:WBC)On the futures market the SPI is 8 points up.
Asian marketsThe Nikkei is 0.49 per cent lower, Hong Kong’s Hang Seng is down 0.04 per cent and the Shanghai Composite is 0.16 per cent lower.
Local economic newsThe ABS has revealed Australia’s trade surplus has soared to $2.471 billion in May 2017, in seasonally adjusted terms. The trade surplus recovered from its very thin $90 million surplus in April. That shows us that the international balance on goods and services increased by 2,646 per cent.
It comes as exports in goods and services rose 9 per cent to $32.781 billion, with non-rural goods rising 13 per cent or by $2.333 billion and rural goods rose 3 per cent, and so too did non-monetary gold.
Australia's imports of non-monetary gold fell 25 per cent.
Company newsTouchcorp
(ASX:TCH) has announced all of its shares have now been transferred to the newly incorporated, Afterpay Touch Group
(ASX:APT). It comes as the payment platform company, implemented its Scheme of Arrangement to merge Touchcorp and Afterpay Holdings
(ASX:AFY) under the new entity. Afterpay Touch Group, the new listed entity, will begin trading tomorrow (7 July 2017). Shares in Touchcorp
(ASX:TCH) last traded at $1.67.
Opthea Limited
(ASX:OPT) has announced it has received a Notice of Allowance, ahead of being granted a key patent from United States Patent and Trade Mark Office, for its solution that treats eye disorders and diseases like macular degeneration and diabetic macular edema.
Doray Minerals Limited
(ASX:DRM) has announced that mining at its Andy Well underground mine will be suspendered on 1 November 2017 after it reported a reduction in strike length
Buru Energy Limited
(ASX:BRU) has announced it has entered into an agreement with Alcoa of Australia Limited (Alcoa) to re-schedule its current debt repayment obligations.
The best and worst performers of the dayThe best performing sector was Healthcare adding 1.03 per cent to close at 23,932. The worst performing sector was Telcos, losing 0.73 per cent to close at 1,534 points.
The best performing stock in the S&P/ASX 200 was Syrah Resources Limited
(ASX:SYR) rising 8.58 per cent to close at $3.29. Shares in Galaxy Resources Limited
(ASX:GXY) and Aconex Limited
(ASX:ACX) also closed higher.
The worst performing stock was Retail Food Group Limited
(ASX:RFG), dropping 4 per cent to close at $4.56. Shares in Coca-Cola Amatil Limited
(ASX:CCL) and Harvey Norman Holdings Limited
(ASX:HVN) also closed lower.
Commodities and the dollar Gold is trading at $US1,225 an ounce.
Light crude is $1.50 lower at $US45.61 a barrel.
One Australian dollar is buying 75.96 US cents.
