The Australian share market saw some small bank-led gains in afternoon trade however pulled off the day's highs to close flat, with the major sectors finishing mixed. Materials were the day’s worst performing stocks, while Energy and financials were the best, with each of the big four banks finishing ahead.
The S&P/ASX 200 index closed 4 points up to finish at 5,357. The value of trades was $5.1 billion on volume of 894 million shares at the close of trade. The top three stocks by value were Bank of Queensland Limited
(ASX:BOQ), BHP Billiton Limited
(ASX:BHP) and Commonwealth Bank of Australia
(ASX:CBA).
On the futures market the SPI is 1 points up.
Company news
Brickworks Limited
(ASX:BKW) Managing Director Lindsay Partridge says the building products maker saw improved profitability in the September quarter, on the back of a better performance from its Austral bricks and masonry businesses. Mr Partridge told shareholders at today’s AGM that Brickworks is also beginning to see signs of a more broadbased recovery in building activity, reflected by increasing orders in most regions and divisions. Shares in Brickworks closed 2.07 per cent up at $13.80.
Bega Cheese Limited
(ASX:BGA) has extended its offer for Warrnambool Cheese and Butter Factory Co.
(ASX:WCB) by a fortnight as it struggles to keep its head above water in the drawn out takeover race. Bega and rival bidder Murray Goulburn Co-operative are considering taking the battle for Warrnambool to the Takeover Panel in the wake of a revised bid by Saputo, which today boosted its holding to 3.73 per cent of Warrnambool, still well shy of Bega’s 18 per cent. Shares in Bega closed 0.43 per cent down at $4.65.
Ansell Limited
(ASX:ANN) has acquired the North American group BarrierSafe Solutions for approximately $US615 million.
Aristocrat Leisure Limited
(ASX:ALL) shares fell 2.94 per cent after it lifted its full year profit almost 17 per cent to $107 million despite a slide in revenue.
Mayne Pharma Group Limited
(ASX:MYX) shares jumped 8.84 per cent after it lifted revenues by 230 per cent to $45 million in the first four months of fiscal 2014, boosted by the acquisition of US company Metrics Inc and a lift in sales of its in-house drug Doryx.
Canadian dairy giant Saputo has increased its substantial holding in Warrnambool Cheese & Butter Factory Co
(ASX:WCB) and now holds 3.73 per cent voting power in the Australian dairy maker.
Best and worst performers
The best performing sector was Energy adding 54 points to close at 13,559.
The worst performing sector was Materials, losing 50 points to close at 10,065.
The best performing stock in the S&PASX 200 was Paladin Energy Limited
(ASX:PDN), rising 11.39 per cent to close at $0.44. Shares in St. Barbara Limited
(ASX:SBM) and Sirius Resources N.L.
(ASX:SIR) also closed higher.
The worst performing stock was Boart Longyear Limited
(ASX:BLY), dropping 6.15 per cent to close at $0.30. Shares in Transfield Services Limited
(ASX:TSE) and Fleetwood Corporation Limited
(ASX:FWD) also closed lower.
Commodities
Gold is trading at $US1,253 an ounce. Light crude is $0.75 down at $US94.09 a barrel.
The Australian dollar
The Australian dollar is buying $US0.9185.
