Rio, Woodside and Whitehaven gain: Aus shares close 0.34% higher

Market Reports

by Jessica Amir

The Aussie share market inked its fourth day of straight gains with Rio (ASX:RIO) and Woodside (ASX:WPL) both reporting. Over half of the sectors made green tracks today with consumer discretionary overtaking energy as the leader. It comes as the likes of Harvey Norman (ASX:HVN) gained 2.7 per cent after a broker upgrade. While Whitehaven Coal (ASX:WHC) oiled up 3.6 per cent after a lift in crude oil price.

Capping gains today falls in telcos, financials and the health sectors. AMP (ASX:AMP) lost 2.2 per cent coming under fire again amid the banking royal commission. While CBA (ASX:CBA) shed almost 0.5 per cent, leading the other three major banks lower.

At the closing bell the S&P/ASX 200 index closed 20 points, or 0.34 per cent higher to finish at 5,861.

Futures

The Dow futures are suggesting a rise of 52 points up.
And the ASX200 futures are eyeing a 20 point gain.

Value of trades

$4.5 billion on volume of 614 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 CSL (ASX:CSL).

Local economic news

Travelers from China hit record high. Meantime overseas trend arrival estimates is now standing 4.8 per cent higher than in February last year.

Company news 

Retail property group, Vicinity Centres (ASX:VCX) exchanged contracts to sell Brandon Park in Victoria for $135 million, reflecting a 3.8 per cent premium on its book value. Vicinity will receive $67.5 million of the proceeds, which is its 50 per cent interest. The transaction is booked to settle at the end of this month. Shares in Vicinity Centres (ASX:VCX) closed steady at $2.38.

Fletcher Building (ASX:FBU) has raised NZ$500 million from institutional shareholders. Its shares are still in a trading halt but it last traded at $6.00.

Woodside Petroleum (ASX:WPL) has seen its revenue rise 18 per cent quarter on quarter to $1.2 billion. It also announced steady production from its Asian pacific resource development, Wheatstone Train 1.

Credit Corp (ASX:CCP) which acquires past due debts from major banks, finance companies, telcos etc, is seeing big bounce in its shares today. It comes as it announced its US earnings are on track and its expecting its US net profit after tax to be in positive territory in FY18 of around US$2 million.

And among the big miners, Rio (ASX:RIO) shares gained the most about 1.9 per cent at noon and it closed 1.1 per cnet higher after reporting Pilbara iron ore production and shipments lifted in the first quarter, when compared to the first quarter of 2017. Meantime its bauxite rose while its mined copper gained a massive 65 per cent compared to the same time last year.

IPOs

Jupiter Mines (ASX:JMS) started trading today. It floated with an issue price of 40 cents, opened at 39 cents and closed at 40 cents.

Best and worst performers of the day

The best performing sector was consumer discretionaries adding 1.5 per cent to close at 2,237.
The worst performing sector was telcos shedding 0.8 per cent to close at 1,136. points.

The best performing stock in the S&P/ASX 200 was Wisetech Global (ASX:WTC), rising 6.9 per cent to close at $10.86. Shares in Corporate Travel Management (ASX:CTD) and Credit Corp Group (ASX:CCP) followed higher.

The worst performing stock in the S&P/ASX 200 was CYBG Plc (ASX:CYB), dropping 6.7 per cent to close at $5.19. Shares in Link Administration Holdings (ASX:LNK) and Seven West Media (ASX:SWM) followed lower.

Asian markets 

Japan’s Nikkei has added 1.5 per cent, Hong Kong’s Hang Seng has added 0.6 per cent and the Shanghai Composite has gained 0.6 per cent.

Commodities and the dollar

Iron ore futures are pointing to a rise of 2.04 per cent
Gold is trading at $US1,345 an ounce.
Light crude is $0.46 up at $US66.66 barrel.
One Australian dollar is buying 77.71 US cents.

Cryptocurrencies

Bitcoin trades at US$7,940, Ethereum trades at US$508 and Verge trades at US$7 cents