It’s been a positive day of trade for the Australian market. The local bourse recovered from its subdued start, but plateaued just after midday. However it was materials that made headlines today, as BHP
(ASX:BHP) reported its quarterly production results with copper rising 14 per cent, but petroleum falling 8 per cent. Rio Tinto
(ASX:RIO) was slapped with a fine and also issued a complaint in relation to its previous Mozambique coal asset.
On the flipside, utilities and healthcare led the charge, with the likes of AGL
(ASX:AGL) and CSL
(ASX:CSL) shining.
At the closing bell the S&P/ASX 200 index closed 1 point up higher to finish at 5,891.
The value of trades was $5 billion on volume of 733 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 Rio Tinto Limited
(ASX:RIO).
On the futures market the SPI is 7 points up.
Asian markets Japan’s Nikkei is trading flat, Hong Kong’s Hang Seng is trading flat and the Shanghai Composite is 0.27 per cent higher.
Company newsCrown Resorts
(ASX:CWN) is rejecting the allegations made under parliamentary privilege by Andrew Wilkie. The allegations are about the improper manipulation of poker machines and other illegal conduct at Crown Casino in Melbourne. The gaming and entertainment group is calling on the MP to immediately provide relevant authorities with information about the allegations. Shares in Crown Resorts
(ASX:CWN) closed 4.34 per cent lower at $11.24.
Rio Tinto
(ASX:RIO) has been served a complaint by the US Securities and Exchange Commission (SEC) in relation to disclosures and timing of its Mozambique Coal impairment and will vigoursly defend itself against the allegations.
Mining giant, BHP
(ASX:BHP) announced first production from its Los Colorados Expansion project and its Olympic Dam Southern mining area achieved production in the September quarter.
Pallet and logistics business, Brambles
(ASX:BXB) has reported sales revenue of US$1.37 billion in the first three months of the 2018 financial year, which is an 8 per cent gain compared to the prior corresponding period in actual FX rates.
Best and worst performers The best performing sector was Utilities adding 1.21 per cent to close at 8, 249.
The worst performing sector was Telcos, loosing 1.6 per cent to close 1, 238 points.
The best performing stock in the S&P/ASX 200 was St Barbara Limited
(ASX:SBM) rising 11.19 per cent to close at $2.98. Shares in IOOF Holdings
(ASX:IFL) and Aconex
(ASX:ACX) also closed higher.
The worst performing stock in the S&P/ASX 200 was Lendlease
(ASX:LLC), dropping 10.48 per cent to close at $16.65. Shares in Altium Group
(ASX:ALU) and GWA Group Limited
(ASX:GWA) also closed lower.
Commodities and the dollarGold is trading at $US1,284 an ounce.
Light crude is $0.03 higher at $US52.17 barrel.
One Australian dollar is buying 78.46 US cents.
