The Australian share market lifted at open following strong offshore leads and closed the last session of the month at fresh four and a half year highs. The local bourse was given a boost by the energy sector gaining 2.8 per cent and a series of well received earnings results as the final week of reporting season nears the end.
Figures
The S&P/ASX 200 index advanced 68 points to end at 5,104.
The value of trades was $6 billion on volume of 1 billion shares at the close of trade.
The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), BHP Billiton Limited
(ASX:BHP) and Westpac Banking Corporation
(ASX:WBC) On the futures market the SPI is 64 points higher.
Economic news
The latest private capital expenditure figures have fallen against expectations. The Australian Bureau of Statistics reports private new capital expenditure fell 1.2 per cent to $40.98 billion.
Company news Softer sales and a fall it the value of its property values have pushed Harvey Norman Holdings Limited’s
(ASX:HVN) first half net profit down 36 per cent to $82 million.
Though conceding retail conditions remain tough the electrical retailer’s Chairman Gerry Harvey has noted an uptick in sales and says aggressive discounting has stabilised. Shares in Harvey Norman Holdings gained 9.21 per cent today, closing at $2.49. Woolworths Limited (ASX:WOW) has upgraded its full year profit guidance after revealing its first half net profit jumped 19 per cent to $1.15 billion. The supermarket giant’s result was boosted by rise in food sales amid continued customer growth, serving an average 20.2 million customers per week. Shares in Woolworths rose 2.71 per cent today, closing at $34.93. Treasury Wine Estates Limited
(ASX:TWE) surged 8.2 per cent after the wine marker revealed a 31 per cent first half profit jump and provided a positive outlook for the global wine industry.
Perpetual Limited
(ASX:PPT) lifted 4.2 per cent following the fund manager’s improved interim results achieved on the back of its cost-cutting drive and better market conditions.
Blackmores Limited
(ASX:BKL) slumped 7.3 per cent after revealing its first half net profit dropped almost 5 per cent as higher costs offset stronger sales.
Lend Lease Group
(ASX:LLC) firmed as the property developer announced it will sell its aged care business for $270 million to private equity firm Archer Capital.
Best and worst performers
Most major sectors closed higher: The best performing sector was energy advancing 372 points to close at 13,592.The only major sector to close lower was telco services, losing 6 points to close at 1,571 points.
The best performing stock in the S&PASX 200 was Buru Energy Limited
(ASX:BRU), rising 10.66 per cent to close at $2.70. Shares in Harvey Norman Holdings Limited
(ASX:HVN) and Treasury Wine Estates Limited
(ASX:TWE) also closed higher.
The worst performing stock was Wotif.com Holdings Limited
(ASX:WTF), dropping 8.38 per cent to close at $4.92. Shares in OceanaGold Corporation
(ASX:OGC) and Gryphon Minerals Limited
(ASX:GRY) also closed lower.
Commodities
Gold is trading at $US1,597 an ounce.
Light crude is $0.28 up at $US93.04 a barrel.
The Australian dollar
The Australian dollar is buying $US1.028.
