The local bourse continued its push above 5000 today with a strong earnings report released from Wesfarmers. The mining sector led the gains before closing 0.7 per cent higher.
Today, the S&P/ASX 200 index closed 33 points up to finish at 5,037.
The value of trades was $5.6 billion on volume of 999 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Rio Tinto Limited
(ASX:RIO) and Commonwealth Bank of Australia
(ASX:CBA).
On the futures market the SPI is 37 points higher.
Company news
Wesfarmers Limited
(ASX:WES) has seen its first half results climb 9.3 per cent largely aided by its Coles supermarket chain, which saw a 15 per cent gain in earnings before interest and tax to $755 million. Wesfarmers booked a bottom-line result of $1.285 billion. Separately, the conglomerate confirmed that an internal investigation is underway after the ACCC launched a blistering attack on the supermarket industry last night. Shares in Wesfarmers closed 1.2 per cent up at $38.88.
David Jones Limited
(ASX:DJS) will move away from selling low margin items in an effort boost falling sales. Second quarter sales slipped 1.4 per cent following a flat first quarter. The department store’s chief Paul Zahra says the company will refocus on higher margin categories such as fashion and beauty. Shares in David Jones closed 0.37 per cent down at $2.67.
GPT Group (ASX: GPT) has more than doubled its full year net profit thanks to another surge in the value of its property portfolio.
Downer EDI Limited
(ASX:DOW) has reported an 11 per cent lift in first half net profit to $94 million and expects to grow its profits to deliver a $210 million full year result.
Property giant Mirvac Group
(ASX:MGR) has revealed a 69 per cent slump in first half net profit to $55.2 million, weighed down by a string of project write downs across the country.
Shares in Alumina Limited
(ASX:AWC) were given a boost today, after Chinese owned Citic resources vowed to buy a 13 per cent stake in the local refiner for $452 million.
Best and worst performers
The best performing sector was materials adding 206 points to close at 11,228.The worst performing sector was health care, losing 123 points to close at 12,120 points.
The best performing stock in the S&PASX 200 was Transfield Services Limited
(ASX:TSE), rising 9.19 per cent to close at $2.02. Shares in Downer EDI and Atlas Iron also closed higher.
The worst performing stock was SAI Global Limited
(ASX:SAI) dropping 14.8 per cent to close at $3.80. Shares in Troy Resources and Boart Longyear also closed lower.
Commodities
Gold is trading at $US1,645 an ounce. Light crude is $0.12 up at $US97.13 a barrel.
The Australian dollar
The Australian dollar is buying $US1.035.
