The Australian share market has ended the session and week lower. Despite a positive US lead local stocks hit two-month lows ahead of a key US jobs report due for release this evening. After a week in which the central banks of Australia, England and Europe left rates on hold, direction was taken from Japan’s central bank stimulus boost yesterday. Fuelling a brighter outlook for commodities, the mining sector today recovered some of this week’s steep falls to end on top.
Figures
The S&P/ASX 200 index slipped 22 points today, extending the Easter holiday shortened week loss of 75 points to end the week at 4,891.
The value of trades was $4.5 billion on volume of 795 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 Westpac Banking Corporation
(ASX:WBC).
On the futures market the SPI is 26 points lower.
Wall Street: US stocks have put in a mixed performance over their four trading days this week: The Dow Jones Industrial Average has added 80 points, the S&P 500 Index is down 3 points, the Nasdaq has lost 32 points and the 100 Index has pulled back 15 points.
Company news Commonwealth Bank of Australia’s
(ASX:CBA) chief Ian Narev expects business and consumer sentiment to improve this year following a period of relative stability. While CBA remains cautious about the global outlook Mr Narvev says in each of the major areas of concern – European Union stability, US recovery and China’s ongoing growth – developments have been positive overall. Shares in Commonwealth Bank fell 1.72 per cent today, ending the week at $66.93.
A Lend Lease Group
(ASX:LLC) led consortium has been selected to deliver a new hospital in Victoria. The consortium will enter into a $630 million public private partnership with the state government to design, construct, maintain and finance the new Bendigo Hospital. Shares in Lend Lease Group rose 1.98 per cent today, ending the week at $10.30.
Fortescue Metals Group Limited’s
(ASX:FMG) founder Andrew Forrest is heading to China to pave some positive relations and lead a group of senior business leaders at one of Asia’s largest annual economic meetings.
Mirvac Group
(ASX:MGR) is on the hunt for a new CFO after its finance director Greg Dyer resigned after only eight months with the property developer.
Best and worst performers
The best performing sector was materials adding 124 points to close at 9,298.
The worst performing sector was health care, losing 188 points to close at 12,302 points.
The best performing stock in the S&PASX 200 was Imdex Limited
(ASX:IMD), rising 11.21 per cent to close at $1.29. Shares in Beadell Resources Loimited
(ASX:BDR) and Boart Longyear Limited
(ASX:BLY) also closed higher.
The worst performing stock was Sirtex Medical Limited
(ASX:SRX), dropping 7.6 per cent to close at $10.33. Shares in Virgin Australia Holdings Limited
(ASX:VAH) and Sonic Healthcare Limited
(ASX:SHL) also closed lower.
Commodities
Gold is trading at $US1,551 an ounce, down $54.90 over the week
Light crude is $0.18 lower at $US93.08 a barrel
The Australian dollar
The Australian dollar is buying $1.041, down $0.001 over the week
