The Australian share market has closed slightly higher in an uneventful day of trade that belied strong leads out of Wall Street, as investors await news out of the eurozone finance ministers meeting on an aid deal for Greece.
The S&P/ASX 200 index closed 11 points up to finish at 4,424.
The value of trades was $2.62 billion on volume of 595.5 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and National Australia Bank Limited (ASX:NAB). On the futures market, the SPI is currently 12 points up.
Company news
Leighton Holdings Limited (ASX:LEI) and joint venture partner Grosvenor have sold a Paramatta CBD commercial property for $167.5 million.
CEO Mark Gray says tenant demand for the Eclipse Tower demonstrated an ongoing need for sustainable office space in the suburban office markets. Leighton is aiming to reinvest its capital into its forward strategy of undertaking commercial developments in strong investment grade markets. Shares in Leighton Holdings closed 2.19 per cent up at $17.25.
Online services provider Melbourne IT Limited (ASX:MLB) has flagged a 10 per cent fall in its pre tax earnings for the full year to the end of December, owing to disappointing trading results and a number of delayed opportunities. Due to a perceived market undervaluing, Melbourne IT’s board will hold talks with a number of large offshore organisations that have previously indicated interest in buying parts of the company. Shares in Melbourne IT closed 10.92 per cent down at $1.55.
Precious Metal Resources Limited (ASX:PMR) has received funds to advance its NSW gold tenements.
Bendigo and Adelaide Bank Limited (ASX:BEN) has entered into a non-binding heads of agreement to acquire a loan book worth about $290 million.
Woolworths Limited (ASX:WOW) is reportedly under threat of an earnings downgrade according to a report from Merrill Lynch.
Technology One Limited (ASX:TNE) has boosted its annual net profit by 16 per cent and about 10 per cent above its guidance, aided by strong growth across its seven key vertical markets in Australia and New Zealand.
Best and worst performers
The best performing sector was Utilities adding 72 points to close at 5,039.
The worst performing sector was Telco Services, losing 16 points to close at 1,443 points.
The best performing stock in the S&PASX 200 was Energy World Corporation Limited (ASX:EWC), rising 11.86 per cent to close at $0.33. Shares in APN News and Media Limited (ASX:APN) and ALS Limited (ASX:ALQ) also closed higher.
The worst performing stock was Imdex Limited (ASX:IMD), dropping 3.66 per cent to close at $1.31. Shares in Intrepid Mines Limited (ASX:IAU) and Aquila Resources Limited (ASX:AQA) also closed lower.
Company IPO's
Turning to IPOs and Shopping Centres Australasia (ASX:SCP) started trading today with an issue price of $1.50. It opened at $1.40 and a closing price of $1.44.
Commodities
Gold is trading at $US1,751 an ounce. Light crude is $0.34 down at $US87.94 a barrel. The Australian dollar is buying $US1.046.
