After slight gains early the ASX traded either side of the open to finish the day flat in anticipation of the US Reserve Bank’s rates announcement that’s due tonight.
Markets were weighed down by Woolworths earnings coming in below expectations which dragged the consumer staples sector down to be the day’s worst performer.
The S&P/ASX 200 index closed 2.5 points up to finish at 5,489.
The value of trades was $4.69 billion on volume of 792 million shares at the close of trade. The top three stocks by value were Twenty-First Century Fox (ASX:FOX), ANZ Banking Group (ASX:ANZ) and Westpac Banking Corporation (ASX:WBC).
On the futures market the SPI is 6 points up.
Company news
Woodside Petroleum Limited’s
(ASX:WPL) Chairman has conceded setbacks in the Leviathan joint venture have been troubling for the oil and gas producer.
Speaking at the company’s AGM, Michael Chaney told investors the company continues to push ahead with talks to finalise its entry into the Leviathan joint venture. Woodside closed 0.22 per cent up at $40.80.
Origin Energy Limited
(ASX:ORG) has increased production by 10 per cent in the March quarter as sales revenue hit $253 million in its exploration and production business.
The oil and gas producer says the increase is primarily due to contributions from the Australia Pacific LNG project and Otway. Shares in Origin Energy closed 0.27 per cent up at $14.90
Retail giant Woolworths Limited
(ASX:WOW) has increased its third quarter sales from continuing operations by 5.3 per cent to $15.19 billion.
OceanaGold Corporation (ASX:OGC, TSE:OGC, NZX:OGC) has achieved record earnings in the first quarter of the current calendar year on the back of a jump in gold production.
Aurizon Holdings Limited
(ASX:AZJ) says it’s on track to reach its annual haulage guidance after increasing its coal volumes in the March quarter.
David Jones Limited
(ASX:DJS) has released a tightened securities trading policy in the wake of two of its directors being accused of insider trading.
Best and worst performers
The best performing sector was telco services adding 22 points to close at 1,819.The worst performing sector was consumer staples, losing 114 points to close at 10,050 points.
The best performing stock in the S&P/ASX 200 was Horizon Oil Limited
(ASX:HZN), rising 7 per cent to close at $0.38. Shares in Independence Group
(ASX:IGO) and PanAust Limited
(ASX:PNA) also closed higher.
The worst performing stock was Acrux Limited
(ASX:ACR), dropping 5.91 per cent to close at $1.03. Shares in Senex Energy Limited
(ASX:SXY) and Medusa Mining Limited
(ASX:MML) also closed lower.
Commodities
Gold is buying $US1,293 an ounce. Light crude is $0.44 up at $US101.28 a barrel. The Australian dollar is buying $US0.9284.
