Australian share market closed the week broadly higher despite losses today. After opening in the red this morning the local bourse managed to gain momentum closing 0.4 per cent lower. Mineral Resources
(ASX:MIN) and Resmed
(ASX:RMD) had their shares bolstered today. Speedcast International
(ASX:SDA) saw a drop in their shares. As did banks Westpac
(ASX:WBC), ANZ
(ASX:ANZ) and NAB
(ASX:NAB).
As for the sectors, only Materials and Energy were in the green today with Telco Services.
The S&P/ASX200 indexAt the closing bell the S&P/ASX 200 index closed 25 points lower to finish at 6,793.
Over the week, the market has gained 93 points or 1.4 per cent.
Futures marketDow futures are suggesting a rise of 52 points.
S&P 500 futures are eyeing a rise of 7 points.
The Nasdaq futures are eyeing a lift of 36 points.
And the ASX200 futures are eyeing a 0.3 per cent fall for Monday morning.
Economic newsWater and Energy use declined per Australian household according to the Australian Bureau of Statistics. The report looked at the key socio-economic statistics for the country at 30 June 2017 in the Australian Environmental-Economic Accounts earlier today.
Company news Speedcast International
(ASX:SDA) has engaged Market Eye as its investor relations adviser. It's to help them address the challenges and execute a long term growth strategy. Ronn Bechler, Managing Director and founder of Market Eye, will be the primary investor contact for Speedcast. Shares in Speedcast International
(ASX:SDA) closed 8.4 per cent lower at $1.85.
Outdoor apparel and equipment store Kathmandu Holdings
(ASX:KMD) announced today that director Sandra McPhee will retire from the board in September this year. Andrea Martens has been appointed as a director. Sandra McPhee has been a director of Kathmandu since the company’s Initial Public Offering in 2009. Shares in Kathmandu Holdings
(ASX:KMD) closed 1 per cent lower $2.02.
ResMed
(ASX:RMD) has posted a 28 per cent increase in full-year profit to $US404.6 million ($A582.2 million). ResMed chief executive Mick Farrell says recent mask launches have driven market share gains.
Automotive and water company GUD
(ASX:GUD) report their full year highlights showing revenue from continuing operations is up 9 per cent on the prior corresponding period. Automotive revenue grew but their water business saw modest revenue and EBIT growth.
Best and worst performers The best performing sector was Materials adding 0.5 per cent while the worst performing sector was Telco Services, shedding 1 per cent.
The best performing stock in the S&P/ASX 200 was Mineral Resources
(ASX:MIN), rising 8.3 per cent to close at $16.65. Shares in Resmed
(ASX:RMD) and NRW Holdings
(ASX:NWH) followed higher.
The worst performing stock in the S&P/ASX 200 was Speedcast International
(ASX:SDA), dropping 8.4 per cent to close at $1.85. Shares in IPH
(ASX:IPH) and GUD Holdings
(ASX:GUD) followed lower.
Asian marketsMixed:Japan’s Nikkei has lost 0.5 per cent, Hong Kong’s Hang Seng has lost 0.4 per cent and the Shanghai Composite has gained 0.1 per cent.
Wall Street Wrapped up our four trading days this week mixed: The Dow Jones lost 0.1 per cent, The S&P 500 added 0.9 per cent and the tech heavy Nasdaq gained 1.1 per cent.
Commodities and the dollar Gold is trading at US$1,414 an ounce.
Iron ore price rose 1.8 per cent to US$ $117.00
Light crude is US$0.03 up at US$55.91 a barrel.
One Australian dollar is buying 69.42 US cents.
