The Australian share market was virtually flat today, the Prime Minister’s new levy to help pay the $5.6 billion flood bill weighing a little on stocks. And the measure of future economic activity suggesting growth in Australia will continue to contract added to the slightly negative sentiment.
The S&P/ASX200 Index fell 2 points to close at 4,806. On the futures market, the SPI is 15 points higher.
Company news: Macarthur Coal Ltd (ASX:MCC) has reported a 20 per cent fall in coal sales due to record rainfall in the Bowen Basin. The wettest December on record in Queensland caused the world’s largest producer of pulverised coal to cut production and eat into stockpiles. The Brisbane based miner said operations were returning to average production capacity. Shares in Macarthur Coal Ltd closed 2.15 per cent higher at $13.30.
Gloucester Coal Ltd (ASX:GCL) has reported a rise in second quarter sales. Coking coal sales volumes skyrocketed 49 per cent in the three months to December. The coal producer and marketer said it will benefit from rapidly rising coal prices due to flooding in Queensland. Shares in Gloucester Coal Ltd closed 0.39 per cent lower at $12.90.
Fletcher Building Ltd (Australia) (ASX:FBU) and Crane Group Ltd (ASX:CRG) entered a trading halt amid expectations of a deal by Friday.
Leighton Holdings Ltd (ASX:LEI) Contractors has been awarded a $110 million contract to build Amcor’s new paper recycling mill at Botany in Sydney.
Downer EDI Ltd (ASX:DOW) will take a $250 million provision related to the Waratah train project in New South Wales.
QBE Insurance Group Ltd (ASX:QBE) has agreed to buy the Australian operation of US-owned CUNA Mutual Group.
In the best and worst performers: The best performing sector at close was Health Care, with the index adding 101 points to close at 9,155. The worst performing sector was Utilities, the index losing 51 points to close at 4,368. The best performing stock in the S&P/ASX200 was Aurora Oil & Gas Ltd shares rose 7.27 per cent to close at $2.95. Shares in Alesco Corporation Ltd and Eldorado Gold Corporation also gained today. The worst performing stock was Downer EDI Ltd shares fell 20.13 per cent to close at $3.61. Shares in Murchison Metals Ltd and Infigen Energy also closed weaker today.
In commodities, gold is trading at $US1,345 an ounce and Light crude is down by $0.22 to $US87.11 cents a barrel.
