The Australian share market closed 0.3 per cent up, easing slightly after earlier pushing through the 5,100 point barrier, with consumer staples and financial stocks providing traction and a deluge of earnings reports continuing to tempt investors.
The S&P/ASX 200 index closed 17 points up to finish at 5,099. The value of trades was $5.4 billion on volume of 965 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 Woodside Petroleum Limited
(ASX:WPL).
On the futures market the SPI is 13 points up.
Economic news
The Australian Bureau of Statistics wage price index rose 3.4 per cent in the December quarter, while total hourly rates of pay went up by 0.8 per cent.
Company news
Fortescue Metals Group Limited
(ASX:FMG) says weaker iron ore prices are behind its 40 per cent first half profit fall, however it has enjoyed a strong start to the second half on the back of prices recovering. The Pilbara focused iron ore producer made a net profit of $464 million for the half and will not be offering shareholders an interim dividend. Shares in Fortescue closed 5.02 per cent down at $4.92.
The Reject Shop Limited
(ASX:TRS) says it expects to open a company record 40 new stores in 2013 and has flagged potential offshore expansion into China. The retailer today reported a 21.2 per cent lift in its first half net profit of $20.1 million, having opened 17 new stores across five states in the period. Shares in The Reject Shop closed 3.03 per cent up at $17.00.
Toll Holdings Limited
(ASX:TOL) has posted a 21.2 per cent boost in its first half net profit of $192 million and remains confident of achieving stronger earnings in the second half.
BHP Billiton Limited
(ASX:BHP) has posted a 58 per cent fall in its first half net profit and announced the resignation of chief Marius Kloppers.
Rail operator Aurizon Holdings Limited
(ASX:AZJ) has reported a 10.3 per cent fall in its first half net profit of $175.5 million and cautioned it faces significant costs in the aftermath of the Queensland floods.
Woodside Petroleum Limited
(ASX:WPL) has increased its full year net profit by 98 per cent to $2.89 billion and says it remains on track for a lift in production this year.
Best and worst performers
The best performing sector was Consumer Staples adding 160 points to close at 9,885.
The worst performing sector was Telco Services, losing 25 points to close at 1,560 points.
The best performing stock in the S&PASX 200 was SMS Management & Technology Limited
(ASX:SMX), rising 9.53 per cent to close at $5.40. Shares in SEEK Limited
(ASX:SEK) and Pacific Brands Limited
(ASX:PBG) also closed higher.
The worst performing stock was Breville Group Limited
(ASX:BRG), dropping 21.75 per cent to close at $5.65. Shares in Discovery Metals Limited
(ASX:DML) and Decmil Group Limited
(ASX:DCG) also closed lower.
Commodities
Gold is trading at $US1,606 an ounce. Light crude is $0.09 down at $US97.01 a barrel.
The Australian dollar
The Australian dollar is buying $US1.035.
