The Australian share market has seen a sea of red for the last trading day of the week. The local bourse sank at the open, following falls on Wall Street after the oil price sank along with the large tech stocks.
After the oil price dived, it began to track sideways though, and the ASX200 pretty much mirrored just that today. All sectors finished in the red, with Energy falling over 2 per cent, followed by Healthcare and Consumer Discretionary.
Materials were the shiners for the day though, despite closing in the red, the heavyweights, BHP
(ASX:BHP), Rio Tinto
(ASX:RIO) closed over 1 per cent higher, while Terracom
(ASX:TER) in the energy space, defied the odds and soared over 11 per cent.
At the closing bell the S&P/ASX 200 index closed 55 points down to finish at 5,704
The value of trades was $5.5 billion on volume of 731 million shares at the close of trade.
The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), BHP Billiton Limited
(ASX:BHP) and Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 44 points lower.
Asian markets The Nikkei is 0.33 per cent lower, Hong Kong’s Hang Seng is 0.37 per cent lower and the Shanghai Composite is 0.07 per cent ower.
Looking at Wall Street, the three US major indicies have lost ground over the three trading days this week.
The Dow Jones Industrial Average has lost 0.14 per cent. The S&P 500 Index has slipp 0.57 per cent. The NASDAQ has lost 0.84 per cent. The 100 Index has shed 0.88 per cent.
To company news nowCarnegie Clean Energy Limited
(ASX:CCE) says its submission to the South Australian government to provide large scale battery energy storage was unsuccessful. The company which develops wave and solar energy, and battery storage says, it was disappointed by the decision as it had a compelling proposition and is most experienced local company who can deploy large scale batteries. Regardless, the of the SA government’s decision, Carnegie is continuing to aggressive expand both in Australia and overseas. Shares in Carnegie Clean Energy Limited
(ASX:CCE) closed 1.72 per cent up a 6 cents.
Meanwhile, the South Australian government announced Elon Musk's Tesla as the key builder of the world's largest lithium ion battery, along with a French renewable energy provider Neoen.
Flight Centre Travel Group
(ASX:FLT) has announced it has secured two separate deals to buy a leading Mexico-based destination business, Olympus Tours which generated almost US$25 million in 2016. It will also buy Bespoke Hospitality Management Asia, which generated US$1 million in 2016 from its 14 hotels.
Downer EDI
(ASX:DOW) announced that its unconditional takeover offer of Spotless Group Holdings
(ASX:SPO) is scheduled to close at 7pm on Tuesday 11 July 2017. Downer also warned there are minority shareholder risks if investors do not accept the offer.
Transurban
(ASX:TCL) has announced it has closed a new financing syndicated facility at $1.1 billion.
The best and worst performers of the day:The best performing sector, with the smallest fall was Materials falling 0.6 per cent to close at 10,02. The worst performing sector was Energy, losing 2.07 per cent to close at 8,555 points.
The best performing stock in the S&P/ASX 200 was Galaxy Resources Limited
(ASX:GXY)), rising 5 per cent to close at $2.10. Shares in Platinum Asset Management Limited
(ASX:Ptm) and Mineral Resources Limited
(ASX:MIN) also closed higher.
The worst performing stock was Tassal Group Limited
(ASX:TGR), dropping 5.4 per cent to close at $3.68. Shares in Nextdc Limited
(ASX:NXT) and Independence Group Nl
(ASX:IGO) also closed lower.
Commodities and the dollar Gold is trading at $US1,221 an ounce.
Light crude is 20 cents hgher at $US45.33 a barrel.
One Australian dollar is buying $US75.86.
