Following mixed leads the Australian share market spent most of the day in the red, and ended the day there, down 0.64 per cent. The heaviest sectors at the close of the day included energy and healthcare. The S&P/ASX200 Index closed 30 points lower at 4,537. On the futures market, the SPI is down 26 points.
Economic news
The Federal government's employment department’s employment indicator fell in June after four consecutive increases, suggesting slower jobs growth in the coming months. The indicator fell to -0.011 in June, from 0.016 in May.
Company news
West Australian Newspapers Holdings (ASX:SWM), owned Seven West Media has appointed Chris Wharton as head of its Western Australian media outlets. Mr Wharton is currently CEO of West Australian Newspapers, but will now be CEO of all WA businesses, including Channel Seven Perth. Shares in West Australian Newspapers Holdings (Public, ASX:SWM), dropped 1.98 per cent today, closing at $3.97.
Sigma Pharmaceuticals Limited (ASX:SIP) says its had a higher market share and lower cost base since the company sold its pharmaceuticals division in January. At the company's annual general meeting, Sigma said it expected to report a "sustainable" improvement in earnings of $6 million to $8 million per year as a result of the improved position. Shares in Sigma Pharmaceutical Limited (ASX:SIP) rose 3.7 per cent today, closing at $0.42.
Australian Agricultural Company Limited (ASX:AAC) has been placed in a trading halt today after the government suspended live cattle trading with Indonesia.
BHP Limited (ASX:BHP) staff will strike in Queensland next week at six BHP Billiton Mitsubishi Alliance Coal Mines. The Bowen Basin mines will see work stoppages over an expired agreement, take place on Tuesday and Wednesday.
Stockland (ASX:SGP) announced this morning that it is in discussions with a potential buyer to purchase 20 per cent of its industrial assets for about $200 million.
And Rio Tinto (ASX:RIO) says it’s on track to produce more than 240 million tonnes of iron ore this year, compared with 239 million tonnes last year.
Sectors
The best performing sector was Real Estate Investment Trusts, adding 6 points to close at 854. The worst performing sector was Energy, losing 297 points to close at 15,476.
Stocks
The best performing stock in the S&P/ASX200 was Sigma Pharmaceuticals (ASX:SIP). Shares rose 3.70 per cent to close at $0.42. Shares in Goodman Group (ASX:GMG) and Virgin Blue (ASX:VBA) also closed in higher today.
The worst performing stock was Transpacific (ASX:TPI), falling 6.82 per cent to close at $0.82. Shares in Mincor Resources (ASX:MCR) and Kingsgate (ASX:ACN) also closed lower today.
Commodities
Gold is trading at $US1,542 an ounce and Light crude is down $0.42 at $US98.67 a barrel.
