Following positive leads the Australian share market rose today closing higher by half a per cent, after being higher earlier in the session.
The S&P/ASX200 Index closed 24 points higher at 4,533. On the futures market, the SPI is up 22 points.
Company news
The ACCC has approved GrainCorp Limited's (ASX:GNC) wheat port access arrangements from October this year until September 2014. ACCC chairman Graeme Samuel says some areas could be improved, including making port terminal facilities more economically efficient. Shares in GrainCorp Limited (ASX:GNC) rose 1.22 per cent today, closing at $8.29.
QR National (ASX:QRN) has reaffirmed its 2011 coal supply forecast, but admitted weekly coal haulage volumes have been patchy. The company’s CEO Lance Hockridge told media the rail-freight company is still not at full production, but is seeing ‘green shoots’. Shares in QR National (ASX:QRN) closed the day up 3.48 per cent to $3.27.
Also making news this afternoon, National Australia Bank’s (ASX:NAB) controversial ‘break-up’ advertising campaign has won an award at the prestigious Cannes Festival of Creativity. The campaign saw the bank’s customer base increase by more than 225,000 since February.
And workers at BHP Billiton Ltd's (ASX:BHP) mines in Queensland are still threatening to strike during overnight hours at the end of this week, but BHP says its continuing to negotiate in good faith.
Taking a look at earlier headlines news, Qantas Airways (ASX:QAN) is expecting to post full-year profit before tax of between $500 and $550 million.
And MAp Group (ASX:MAP) has entered into exclusive negotiations with Ontario Teachers' Pension Plan Board (OTPP), after it received an offer from the Canadian fund to swap assets.
Sectors
The best performing sector was Industrials, adding 32 points to close at 3,539. The worst performing sector was Real Estate Investment Trusts, losing 6 points to close at 848.
The best performing stock in the S&P/ASX200 was Murchison Metals (ASX:MMX) shares rose 2.73 per cent to close at $0.81. Shares in OceanaGold (ASX:OGC) and White Energy (ASX:WEC), also closed in higher today.
Stocks
The worst performing stock was Investa Office Fund (ASX:IOF), falling 2.26 per cent to close at $0.65. Shares in Computershare Limited (ASX:CPU) and Dulux Group (ASX:DLX) also closed lower today.
Commodities
Gold is trading at $US1,546 an ounce and Light crude is down $0.60 cents at $US93.57 a barrel.
