Following a strong finish from Wall Street on Friday the Australian share market opened higher this morning but retreated steadily throughout the day to end 0.1 per cent down.
The S&P/ASX 200 index closed 5 points down to finish at 4,344. On the futures market, the SPI is currently 5 points up.
Company news
Toll Holdings Limited (ASX:TOL) full year net profit has fallen 77 percent to $65 million. Managing Director Brian Kruger conceded that the logistics company isn’t expecting short term improvement in external conditions however outlined contract wins and investments that will boost future earnings growth. Toll will pay a fully franked final dividend of 13.5 cents, taking its full year payout to 25 cents, fully franked. Shares in Toll Holdings closed 0.88 per cent down at $4.51.
Atlas Iron Limited (ASX:AGO) has reported a $115 million dollar loss for fiscal 2012. The iron ore miner attributed the loss mainly to impairment costs involved with selling two of its magnetite mines and the takeover of fellow iron ore developer Ferraus last September. Atlas says it will benefit from expanded infrastructure during the coming year. An unfranked three cent dividend has been declared. Shares in Atlas Iron closed 3.02 per cent down at $1.60.
M2 Telecommunications Group Limited (ASX:MTU) has increased its full year net profit by 20 per cent to $33 million, and forecast earnings growth ahead.
Iron ore explorer Sundance Resources Limited (ASX:SDL) has accepted to Hanlong Mining’s takeover offer of $0.45 per share.
Financial services system supplier Iress Limited (ASX:IRE) has attributed a first half profit dip to cost cutting by clients but says it remains focused on acquisitions.
The Australian Securities Exchange Limited (ASX:ASX) has announced the separation of its fees for share trade clearing and settlement, as regulators review whether the areas should be opened up to competition.
Best and worst performers
The best performing sector was Consumer Discretionary adding 6 points to close at 1,270.The worst performing sector was Energy, losing 60 points to close at 12,685 points.
The best performing stock in the S&PASX 200 was Aquila Resources Limited (ASX:AQA), rising 11.56 per cent to close at $2.51. Shares in Sundance Resources Limited(ASX:SDL) and Whitehaven Coal Limited (ASX:WHC) also closed higher.
The worst performing stock was Panoramic Resources Limited (ASX:PAN), dropping 9.3 per cent to close at $0.58. Shares in Intrepid Mines Limited (ASX:IAU) and Integra Mining Limited (ASX:IGR)also closed lower.
Commodities
Gold is trading at $US1,676 an ounce. Light crude is $0.95 higher at $US97.10 a barrel.
The Australian dollar
The Australian dollar is buying $US1.038.
