The Australian share market traded and finished in the red today as investors question China’s potential for economic growth and ahead of US economic data due out this evening.
The S&P/ASX 200 index was 15 points down to finish at 4,197. On the futures market the SPI is currently 12 points down.
Company news
Shares in GrainCorp Limited (ASX:GNC) rose today after rival grain handler Canadian company Viterra (ASX: VTA) confirmed it had received expressions of interest from third parties. Reports have emerged that Glencore is bidding $5.2 billion for Viterra. Shares in Graincorp rose 4.2 per cent to $8.44.
Domino's Pizza Enterprises Limited (ASX:DMP) announced today it has more than 1000 job vacancies to fill across Australia, in order to meet an increase in demand for Pizza. Domino’s chief executive Don Meij attributes the surge to the convenience of mobile and tablet technology. Shares in Dominos closed 0.36 per cent down at $8.37.
Stockland (ASX:SGP) has purchased the Centro Townsville shopping centre for $36.5 million. The acquisition adds to its portfolio in the region where the company also owns Stockland Townsville.
Resource Development Group Limited (ASX:RDG) has announced today it has secured a $35 million contract with Silver Lake Resources Limited (ASX:SLR) for their processing facility in Western Australia.
Uranium producer Paladin Energy Limited (ASX:PDN) has had its ban lifted off its uranium deposit in Labrador Canada. Drilling is expected to start in the third quarter.
Cockatoo Coal Limited (ASX:COK) will receive $313 million investment from South Korea’s SK Networks granting them a 40 per cent stake in the coal company.
Best and worst performers
The best performing sector was Consumer Discretionary adding 2 points to close at 1,269.
The worst performing sector was Telco Services, losing 9 points to close at 1,106 points.
The best performing stock in the S&P ASX 200 was Kagara Limited (ASX: KZL), rising 9.09 per cent to close at $0.18.
Shares in Resolute Mining Limited (ASX:RSG) and Kingsgate Consolidated Limited (ASX:KCN) also closed higher.
The worst performing stock was Bathurst Resources Limited (ASX:BTU) dropping 5.66 per cent to close at $0.75.
Shares in Sigma Pharmaceutical Limited (ASX:SIP) and Mirabela Nickel Limited (ASX:MBN) also closed lower.
Commodities
Gold is trading at $US1,706 an ounce.
Light crude is $0.78 down at $US106.62 a barrel.
