Today capped another strong week for the Australian share market, rising for the session to end the week above 4,400. Despite soft offshore leads, as the stimulus sheen wore off, local stocks traded in positive territory to close 0.3 per cent higher on the back of gains in the industrials, financials and energy sectors.
Figures
The S&P/ASX 200 index rose 11 points to end the week 18 points stronger at 4,408. On the futures market the SPI is now 5 points higher.
Wall Street, over its four trading days this week: The Dow Jones Industrial Average added 57 points, the S&P 500 Index added 0.27 points, the Nasdaq added 20 points and the 100 Index added 30 points.
Company news ANZ Banking Group
(ASX:ANZ) has sold its wholesale mortgage distribution business, Origin Mortgage Management Services to Sydney-based Columbus Capital for an undisclosed amount. The sale comes in the same week ANZ sold its remaining shareholding in Visa Inc for $224 million as part of its focus on capital management. Shares in ANZ firmed 0.4 per cent today to finish the week at $24.84.
Shares in Premier Investments Limited
(ASX:PMV) jumped after the retail brands owner posted a 68 per cent improvement in its annual profit. Premier delivered a net profit of $68 million, aided by strong online sales, cost reductions and a successful Asian expansion. Shares in Premier Investments jumped 8.11 per cent today, ending the week at $5.60.
Shares in Newcrest Mining Limited
(ASX:NCM) dropped 3 per cent after the gold miner advised production at its Lihir operation in Papua New Guinea will be temporarily impacted because of an electrical fault.
Shares in Lynas Corporation Limited
(ASX:LYC) dipped 0.6 per cent after the rare earths developer said it has significantly upgraded ore reserves at its Mount Weld deposit in Western Australia, just weeks after securing a temporary operating licence for its Malaysian refinery.
Best and worst performers
The best performing sector was utilities adding 73 points to close at 4,946.
The worst performing sector was health care, losing 34 points to close at 10,108 points.
The best performing stock in the S&PASX 200 was Intrepid Mines Limited
(ASX:IAU), rising 15.73 per cent to close at $0.52. Shares in Mirabela Nickel Limited
(ASX:MBN) and Senex Energy Limited
(ASX:SXY) also closed higher.
The worst performing stock was FKP Property Group
(ASX:FKP), dropping 5.88 per cent to close at $0.24. Shares in Ramelius Resources Limited
(ASX:RMS) and Gindalbie Metals Limited
(ASX:GBG) also closed lower.
Commodities
Gold is trading at $US1,774 an ounce, up $4.30 over the week
Light crude is $0.72 higher at $U93.14 a barrel
The Australian dollar
The Australian dollar is buying $US1.047, down $0.0081 over the week
