It has been a flat start to the trading week despite a positive start and strength throughout most of the session. At the close the S&P/ ASX 200 finishing the day just 2 points higher.
Health Care stocks did best of all with Industrials & Consumer Discretionary stocks also higher. Heavyweights Cochlear (ASX:COH) and CSL rose approximately 1 & 0.6 per cent respectively. Amongst Consumer Discretionary stocks JB Hi-Fi (ASX:JBH) had strong day up 2.6%. On the flip side, Telcos were the worst performers.
At the closing bell the S&P/ASX 200 index closed 2 points up or 0.03% to finish at 5,684.
The value of trades was $3.5billion on volume of 485 million shares at the close of trade. The top three stocks by value were RIO TINTO (ASX:RIO) and BHP Billiton Limited (ASX:BHP). Commonwealth Bank of Australia (ASX:CBA
On the futures market the SPI is 2 points down.
Japan’s Nikkei has added 0.50 per cent, Hong Kong’s Hang Seng has lost 1.05 per cent and the Shanghai Composite has lost 0.4 per cent.
WA based independent brewer of craft beers Gage Roads Brewing (ASX:GRB) has secured the beer and cider supply contract for the new Perth Stadium and Stadium Park. It’s WA’s 60-thousand seat stadium and entertainment precinct, opening early 2018. The new home for AFL, cricket, and the State’s biggest concerts and events in WA.
After an extremely competitive tender process, Gage Roads was selected to be the sole beer and cider supplier at the new Perth Stadium and Stadium Park. Shares in Gage Roads Brewing (ASX:GRB) closed 18.03% per cent higher at 7.2c.
Cimic (ASX:CIM) has refinanced and expanded its core working capital cash facility as part of its long term financial strategy. The new syndicated bank facility is for $2.6 billion split across three and five years.
Australian retail conglomerate Premier Investments (ASX:PMV) announces a net profit of $105.1 million, a 1.2 per cent increase year on year. It comes on sales of $1.1 billion, an increase of 5.7 per cent.
Propertylink (ASX:PLG) has acquired an industrial asset in Sydney’s Frenchs Forest for $20.7 million to expand its investments. This increases the real estate group’s industrial property ownership to 14 with total assets worth $273 million. The company also rejected a non-binding, conditional proposal from Centuria Capital Group (ASX:CNI) and Centuria Industrial REIT (ASX:CIP).
Best and worst performers
The best performing sector was S&P/ASX Health Care adding 0.6 per cent to close at 22,700. The worst performing sector was Telcos, shedding 0.8 per cent to close at 1,249 points.
The best performing stock in the S&P/ASX 200 was the A2 Milk Company adding 3.62 per cent to close at $5.73. Regis Healthcare & Western Areas also closed higher. The worst performing stock in the S&P/ASX 200 was Seven West Media (ASX:SWM) dropping 5.52 per cent to close at 68.5c.Shares in Chorus (ASX:CNU) and Orocobre (ASX:ORE) also closed lower.
Gold is trading at $US1,293 an ounce. Light crude is $0.11 up at $US50.66 barrel. One Australian dollar is buying 79.63 US cents.