The Aussie sharemarket fell 0.34 per cent with modest losses today, pulled down by a producer price index missing expectations as well as the market waiting for debt talk outcomes from Greece.
The S&P/ASX 200 Index lost 14.5 points to finish at 4,225. On the futures market, the SPI is 23 points lower.
Economic news
The Bureau of Statistics’ producer price index (PPI) shows prices rose 0.3 per cent for the December quarter, below economists' forecasts of a rise of 0.4 per cent.
Company news
Origin Energy Limited
(ASX:ORG) joint venture partner China Petrochemical Corporation (Sinopec) has increased its interest in the Australia Pacific LNG project by $20 billion to US$1.1 billion, for an extra 10 per cent stake. The deal will bring its stake up to 25 per cent. Shares in Origin lost 0.07 per cent today, closing at $13.55.
A report today says Woolworths Limited
(ASX:WOW) is going to close up to 189 of its 386 Dick Smith electronics stores. News Ltd says the supermarket giant’s set to focus on online strategy. Meanwhile, Woolworths’ general manager of merchandising, Steve Donohue, challenged Neilsen data that its beer sales are in decline. He told Fairfax media beer is “far from dead”. Shares in Woolworths fell 0.68 per cent today, closing at $24.73.
Ansell Limited
(ASX:ANN) is set to distribute its products through Koreca Industries in the Republic of Korea with a multi-year agreement, that includes an option to make equity investments in the distributor in stages over several years.
The WA Environmental Protection Authority has given BHP Billiton Limited
(ASX:BHP) conditional approval to construct and operate its proposed $10 billion outer harbour development, including rail and ore stockpile facilities, at Port Hedland.
After its shares soared more than nine per cent on Friday, Lynas Corporation Limited
(ASX:LYC) has been placed in a trading halt from this morning, until Wednesday - ahead of a funding transaction that it is expected to announce.
And global investment bank UBS sent a note to clients this morning saying units in Hastings Diversified Fund
(ASX:HDF) could be worth as much as $2.45 each. APA may now have to sweeten its offer of about $2 a unit. Hastings advised shareholders to reject APA’s offer last week.
Sectors and stocks
The best performing sector was utilities, up 10 points to close at 4,632. The worst performing sector was real estate investment trusts, losing 11 points to close at 805.
The best performing stock in the S&P/ASX 200 was Discovery Metals, up 8.39 per cent to $1.615. Shares in Billabong and AWE followed.
The worst performing stock was Mirabela, falling 6.54 per cent to close at $1.215. Shares in White Energy and Regis Resources also lost value.
Commodities
The price of gold is $US1,673 an ounce. Light crude is down $0.22 at $US98.11 cents a barrel.
