Market Wrap: Aus shares close on a high

Market Reports

Following positive leads the Australian share market opened higher and rose throughout the day, closing on its high.  

Today the S&P/ASX 200 index closed 47 points up to finish at 4,121. On the futures market, the SPI is currently 56 points up.
 
Company news

Leighton Holdings Limited (ASX:LEI) today affirmed its full year profit target of $400 to $450 million. The company is attempting to reassure shareholders and shift the focus to a brighter future following a tumultuous year which saw the construction group deliver its first loss in almost 30 years. Shares in Leighton closed 3.76 per cent up at $17.94.
 
Qantas Airways Limited (ASX:QAN) hit the headlines again today announcing a major operations restructure. The carrier will split its operations into separate domestic and international business units, titled Qantas Domestic and Qantas International respectively, each with their own CEO and management teams. Shares in Qantas closed 2.8 per cent up at $1.47.

BHP Billiton Limited (ASX:BHP) will restart its Tasmanian manganese alloy facility after positive results from an economic viability review. Work at the facility was recently suspended for 90 days following operating losses.
 
Boral Limited (ASX:BLD) CEO Mark Selway, has stepped down, effective immediately, after the building products company’s board decided a news leadership style was needed. The company cut its full-year profit forecast last month claiming wet weather had dampened an already subdued housing construction market.
 
Grain handler GrainCorp Limited (ASX:GNC) has lifted its full-year profit forecast, expecting a net profit between $185 million and $205 million in the 12 months ending September 30, following bumper grain exports.
 
And Thorn Group Ltd (ASX:TGA) announced its sixth consecutive year of profit growth today with a net profit of $27.8 million. However the retail and financial services company warned its rate of earnings growth may slow next year due to a number of difficult retail conditions.
 
Best and worst performers 

All major sectors closed higher. The best performing sector was Industrials adding 78 points to close at 3,456. The sector with the smallest gains was Utilities, 29 points up to close at 4,837.
 

The best performing stock in the S&PASX 200 was GrainCorp Limited (ASX:GNC), rising 8.55 per cent to close at $9.65. Shares in Monadelphous Group Limited (ASX:MND) and Iluka Resources Limited (ASX:ILU) also closed higher.

The worst performing stock was Dart Energy Limited (ASX:DTE), dropping 5.41 per cent to close at $0.18. Shares in Emeco Holdings Limited (ASX:EHL) and Silver Lake Resources Limited (ASX:SLR) also closed lower.

IPOs 

Goldfields Money Limited (ASX:GMY) started trading today with an issue price of $1.00, opening at $1.01 and a closing at $1.00.   

Commodities

Gold is trading at $US1,591 an ounce. Light crude is $0.37 up at $US92.94 a barrel.

The Australian dollar

The Australian dollar is buying $US0.9928.


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