The Australian share market has closed the session and week higher. Supported with record gains on Wall Street local stocks pushed through the 5,000 mark over the week and recovered last week’s losses.
Figures
The S&P/ASX 200 index added 6 points today extending the weekly gain of 122 points to finish at 5,014.
The value of trades was $3.6 billion on volume of 796 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 1 point higher.
Wall Street
US stocks have gained over the four trading days this week: The Dow Jones Industrial Average has risen 259 points, the S&P 500 Index has risen 33 points, the Nasdaq has risen 75 points and the 100 Index has risen 64 points.
Company news Shares in Woodside Petroleum Limited
(ASX:WPL) have lifted after ditching plans to proceed with an onshore plant at its controversial $45 billion Browse liquefied natural gas (LNG) development in Western Australia. The oil and gas producing giant says the project does not meet its commercial requirements for a positive final investment decision and it will now investigate alternative concepts. Shares in Woodside Petroleum lifted 3.17 per cent, ending the week at $36.40.
APA Group
(ASX:APA) has inked a deal to sell its Moomba to Adelaide natural gas pipeline system for $400.6 million. The energy infrastructure owner inherited the pipeline through its acquisition of Hastings Diversified Utilities Fund in 2012 and will now sell the pipeline to Queensland Investment Corporation. Shares in APA Group firmed 0.82 per cent, ending the week at $6.17.
ANZ Banking Group
(ASX:ANZ) has keep its mortgage rates on hold following the Reserve Bank of Australia’s decision to keep the key cash rate steady at 3 per cent last week.
Shares in Calibre Group Limited
(ASX:CGH) shed more than half their value by close after cutting its annual profit forecast by almost $17 million. The provider of services to the mining and infrastructure markets says it has been impacted by challenging, volatile and uncertain market conditions.
Best and worst performers
The best performing sector was real estate investment trusts adding 22 points to close at 1,065.
The worst performing sector was industrials, losing 47 points to close at 3,818 points.
The best performing stock in the S&PASX 200 was Sundance Resources Limited
(ASX:SDL), rising 13.64 per cent to close at $0.10. Shares in Senex Energy Limited
(ASX:SXY) and Sandfire Resources NL
(ASX:SFR) also closed higher.
The worst performing stock was Decmil Group Limited
(ASX:DCG), dropping 8.02 per cent to close at $2.18. Shares in NRW Holdings Limited
(ASX:NWH) and Bradken Limited
(ASX:BKN) also closed lower.
Commodities
Gold is trading at $US1,562 an ounce, up $11.10 over the week.
Light crude is $0.31 lower at $US93.20 a barrel.
The Australian dollar
The Australian dollar is buying $1.055, up $0.014 over the week.
