The Australian share market finished 0.4 per cent higher today. There was a recovery in the market in the afternoon, and shares trimmed earlier losses, after trading in the red at midday.
The S&P/ASX200 Index lifted 10 points to close at 4,862. On the futures market, the SPI is up by 3 points.
In company news, In their joint venture with Worley Parsons (ASX:WOR), Transfield Services (ASX:TSE) has won a $65 million contract with Woodside Petroleum. The oil and gas producer will receive hook-up and commissioning services from Transfield for their projects in Western Australia. Transfield also currently provides project and maintenance services to Liquefied Natural Gas processing facilities. Shares in Transfield Services Limited were up by 1.16 per cent to close at $3.49.
Leighton Holdings Ltd (ASX:LEI) have responded to the ASX’s questioning over last week’s forecasted full year loss of $427 million. The project development and contracting company says it told the ASX as soon as it was aware of the projected loss, in defence of their writedown guidance. Shares in Leighton lost by 1 per cent today, to close at $24.63.
Also making news, Challenger Ltd (ASX:CGF) has listed its full year retail life annuities sales target by 28.5 per cent. The news comes two months after the annuity provider launched a $5 million advertising campaign to boost sales.
And RHG Limited (ASX:RHG), who were formerly known as RAMS Home Loans, has cancelled its plan to delist. Investors were told the company will continue to distribute assets to shareholders as they are realised, over the next 26 years.
Meanwhile, BHP Billiton Ltd (ASX:BHP) today released an environmental review on plans to develop a new harbour at Port Hedland, that will double its iron ore production to 350 million tonnes by next year.
And Woolworths Ltd (ASX:WOW) have posted a 5.1 per cent rise in third quarter sales, on the back of natural disasters pushing food prices up.
To the best and worst performing sectors now, the best performing sector today was Health Care gaining 100 points to close at 8,936. The worst performing sector was Real Estate Investment Trusts, falling 5 points to close at 850. The best performing stock in the S&P/ASX200 was OM Holdings shares rising 7.6 per cent to close at $1.345. Shares in Roc Oil Company and Paladin also closed in positive territory. The worst performing stock was Hastie Group, shedding 5.45 per cent to close at 26 cents. Shares in White Energy and Energy World also closed weaker today.
In commodities, gold is trading at $US1,485 an ounce and Light crude is down 76 cents at $US108.90 a barrel.
