The Australian share market finished the last trading day of the year 0.36 per cent lower with very light holiday trading. It’s down 14.5 per cent on the year though, in what’s been the first back-to-back annual loss in 30 years.
The S&P/ASX200 Index lost 14 points to finish at 4,057. For the week, the index lost 84 points. On the futures market, the SPI is 16 points lower.
Wall Street
Over its two trading days this week: The Dow Jones Industrial Average lost 143 points. The S&P 500 Index lost 16 points, the Nasdaq lost 29 points, and the 100 Index is down 20 points.
Economic news
Australia's capital city home values rose by a seasonally-adjusted 0.1 per cent in November, the first lift in almost a year. The RP Data-Rismark Home Value Index also says regional house values recorded a 0.3 per cent rise in November, the biggest increase since December 2010.
Company news
Navitas Limited (ASX:NVT) is establishing a new college with Birmingham City University. The education company, with an Australian market cap of $1.31 billion, has a 10-year agreement to establish Birmingham City University International College. It will be its ninth college in the UK, and the company says it’s expecting it to reach operational break even in 18 to 24 months. Navitas closed 0.29 per cent higher, at $3.50.
Shares in major retailers like Harvey Norman Holdings Limited (ASX:HVN), Kathmandu Holdings Limited (ASX:KMD) and David Jones Limited (ASX:DJS) were at risk of losing strength at the end of the year, but the Australian Retailers Association (ARA) says sales have been relatively flat on last year, with numbers either the same or slightly higher. The retailers are yet to officially release sales figures from the Christmas period. Shares in Harvey Norman rose 1.10 per cent today and finished the week at $1.83.5.
Virgin Australia Holdings Limited (ASX:VAH) says domestic traffic rose five per cent in November compared with last November, and capacity increased 4.8 per cent. Domestic passengers rose 3.5 per cent over the year, and international capacity jumped 13.5 per cent. International passenger numbers meanwhile rose 5.1 per cent.
BHP Billiton Limited (ASX:BHP) has extended its oil and gas footprint off the coast of the Philippines: it’s finalised a farm-in agreement with oil and gas junior Otto Energy over the Service Contract 55 project.
Sectors and stocks
The best performing sector was consumer discretionary, gaining 7 points to close at 1,173. The worst performing sector was real estate investment trusts, losing 6 points to close at 778 points. The best performing stock in the S&PASX 200, was Integra, gaining 3.88 per cent to close at 53.5 cents, followed by Sundance and Medusa.
The worst performing stock was Energy Resources of Australia dropping 5.77 per cent to close at $1.22.5 cents. Shares in Karoon and Imdex also closed lower.
Commodities
Gold is trading at $US1,557 an ounce and lost $48 over the week. Light crude is up by 31 cents to $US99.96 a barrel.
The Australian dollar is buying $1.0143 US cents, almost flat on the week.
