The Aussie sharemarket closed 1.1 per cent higher; a firm start to the new year with materials and financials encouraging the local bourse.
The S&P/ASX 200 Index gained 44.6 points to finish at 4,101. On the futures market, the SPI is 56 points higher.
Economic news
The Australian Industry Group says the manufacturing sector had a small boost at the end of 2011. The Australian performance of manufacturing index rose 2.4 points to 50.2 in December, showing an expansion in activity.
Company news
Charter Hall Office Management Limited (ASX:CQO) has entered a binding scheme implementation agreement (SIA) to sell all units of Charter Hall Office Real Estate Investment Trust Limited (CQO) to a consortium comprising three entities. Eligible unit holders will receive $2.49 per security, as well as one or more special distributions from proceeds of the sale of its US assets. Shares in Charter Hall closed 0.85 per cent higher at $3.54.
Orica Limited’s (ASX:ORI) Newcastle chemical plant’s come under fire again from the state government. NSW Premier Barry O'Farrell says he's warned the company that he’ll close its Kooragang Island ammonia plant, which is due to open next Tuesday, if there are any more leaks.
He says it's no secret he doesn't have much faith in Orica, which has been a “serial offender when it comes to its Kooragang Island facility."
Shares in Orica closed 0.66 per cent higher today at $24.40.
Centro Retail Australia Limited (ASX:CRF) has appointed former Charter Hall Retail REIT Limited boss Steven Sewell as chief executive officer for the newly-amalgamated group. Mr Sewell is expected to take up the role in the first quarter of this year, after spending more than five years as chief executive officer at Charter Hall REIT.
Origin Energy Limited (ASX:ORG) says the first of two gas-fired generators, Mortlake Power Station, is ready to provide electricity to the Victorian market. The 550 megawatt gas-fired power station near Mortlake in southwestern Victoria has two gas turbines, and the company says it will help meet the growing demand for peak electricity in eastern Australia.
Gloucester Coal Limited’s (ASX:GCL) chairman James MacKenzie says the group's board is taking appropriate caution before making its final decision on Yanzhou Coal Mining Company's $8 billion merger offer. Fairfax reports MacKenzie says the company will wait until extensive due diligence is completed before making up its mind on the Chinese offer.
An independent expert has cleared the sale of Murchison Metals Limited's (ASX:MMX) stake in Crosslands Resources Limited and the Oakajee port and rail project to Japanese group Mitsubishi.
Sectors and stocks
All sectors were in positive territory, materials was up 173 points to 10,665. The worst performing sector was utilities, up 19 points, closing at 4,563.
The best performing stock in the S&P/ASX200 was Dart Energy after acquiring 22 onshore gas licenses in the UK from Greenpark Energy on December 28. It rose 13.89 per cent to close at 41 cents. Shares in Imdex and Industrea also finished stronger today.
The worst performing stock was Transpacific, it closed 3.07 per cent lower at 79 cents, followed by David Jones and Charter Hall Group.
Commodities
The price of gold is $US1,585.90 an ounce and Light crude is up $1.68 at $US100.51 a barrel.
