The Australian Share market fell for the second straight day, closing 0.09 per cent lower today.
Following modest gains on Wall Street, which remains in record territory, the Australian share market sank at the open and battled to keep its head above water all day. After the oil price spiked about 2.2 per cent overnight, it was the energy space which was providing the buoyancy. Woodside Petroleum
(ASX:WPL) and Santos
(ASX:STO) amongst the gainers with the latter adding more than 1 percent. The Financials also finished in positive territory.
Because of a dip in iron ore, big miners lead a suite of decliners today, with the likes of BHP
(ASX:BHP) Iluka Resources
(ASX:ILU) and Rio
(ASX:RIO) all losing over 1.5 per cent. Bluescope Steel
(ASX:BSL) bucked the trend in the Materials space, adding 4.5 per cent.
At the closing bell the S&P/ASX 200 index closed 6 points down to finish at 5,739. The value of trades was $4.6 billion on volume of 637 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 ANZ Limited
(ASX:ANZ).
On the futures market the SPI is 10 points lower.
Asian MarketsJapan’s Nikkei has lost 0.22 per cent, Hong Kong’s Hang Seng has lost 0.57 per cent and the Shanghai Composite lost 0.46 per cent.
Local economic newsGood news for jobseekers, the ABS announced the unemployment rate remained steady as expected at 5.6 per cent. The Australian economy saw a 27,100 rise in the employment numbers, above the 15,000 jobs predicted. In more good news, the participation rate rose 0.1 points to 65.2 per cent in August.
Company newsMaca Ltd
(ASX:MLD) announced their Pilgangoora Open Pit Lithium mining contract is expected to generate approximately $35 million per annum in revenue over the initial two year contract period. Maca
(ASX:MLD) reaffirmed its previous revenue guidance of $560 million for the 2018 financial year. Maca
(ASX:MLD) was chosen by Pilbara Minerals
(ASX:PLS) to mine the project. Shares in Maca
(ASX:MLD) closed 1.95 per cent higher at $2.09.
Myer Holdings Limited
(ASX:MYR) today announced its net profit after tax (NPAT) fell 2.2 per cent on FY16 to $67.9 million before implementation costs and significant items for the full year to July 29, 2017.
Macquarie Atlas Roads
(ASX:MQA) announced it will exercise a pre-emptive right to acquire an additional 4.86 per cent indirect interest in APRR for 440 million euro.
And retirement village and aged care service provider Summerset Group Holdings
(ASX:SNZ) has purchased its fifth property in Wellington in New Zealand.
Best and worst performers The best performing sector was Energy adding 0.66 per cent to close at 9,201.
The worst performing sector was Materials, shedding 0.88 per cent to close at 10,627 points.
The best performing stock in the S&P/ASX 200 was Bluescope Steel
(ASX:BSL), rising 4.55 per cent to close at $11.73. Shares in Galaxy Resources
(ASX:GXY) and Eclipx Group
(ASX:ECX) also closed higher.
The worst performing stock in the S&P/ASX 200 was Sirtex Medical
(ASX:SRX), dropping 6.15 per cent to close at $14.80. Shares in Independence Group
(ASX:IGO) and Primary Health Care
(ASX:PRY) also closed lower.
CommoditiesGold is trading at $US1,321 an ounce.
Light crude is $0.93 cents up at $US49.74 barrel.
One Australian dollar is buying 80.00 US cents.
