The Australian share market traded largely flat today despite some strong gains in the US last night. Capital expenditure figures for the second quarter are due out tomorrow from the ABS and it seems investors are poised before getting a read on this leading indicator of private investment. The CAPEX figure from March showed a 4.2 per cent slide which was largely linked to a slowdown in the mining sector.
The S&P/ASX 200 index closed 3 points up to finish at 5,638.
The value of trades was $4.46 billion on volume of 727 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Telstra Corporation Limited
(ASX:TLS), AMP Limited
(ASX:AMP).
On the futures market the SPI is 2 point down.
Company news
Pacific Brands Limited
(ASX:PBG) has fallen to a full year loss and revealed plans to divest its Workwear Group to conglomerate Wesfarmers Limited
(ASX:WES).
The clothing manufacturer of brands such as Bonds booked a net loss of $224.5 million in fiscal 2014, plunged from a net profit of $73.8 million the year before. Shares in Pacific Brands closed 1.75 per cent up at $0.58
Scentre Group Limited
(ASX:SCG) has firmed its first half and confirmed its second half distribution guidance.
The results come after Westfield Group (ASX:WDC) merged its Australian and New Zealand business with Westfield Retail Trust (ASX:WRT) to create Scentre Group last month. Excluding charges and credits associated with the restructure and merger Scentre Group’s net profit rose 3.5 per cent to $503 million in the first half of the 2014 calendar year. Shares in Scentre Group closed 2.25 per cent down at $3.47.
Specialty Fashion Group Limited
(ASX:SFH) has booked an annual net profit drop but a rise in revenue. The women’s fashion retailer saw its net profit dip 3.8 per cent to $12.5 million in the 2014 financial year.
Mesoblast Limited
(ASX:MSB) has extended its net loss by more than 30 per cent in the full 2014 financial year.
Senex Energy Limited
(ASX:SXY) has posted a net profit drop over the same period it delivered record production, sales revenue and reserves growth.
Qantas Airways Limited
(ASX:QAN) customers will now be able to keep laptops turned on from gate to gate as long as their devices are in flight mode while in the air.
Best and worst performers
The best performing sector was health care adding 0.7 per cent to close at 15,451. The worst performing sector was real estate investment trusts, losing 1.1 per cent to close at 1,142 points.
The best performing stock in the S&P/ASX 200 was Buru Energy Limited
(ASX:BRU), rising 8.7 per cent to close at $1.00. Shares in Cover-More Group Limited
(ASX:CVO) and M2 Group Limited
(ASX:MTU) also closed higher.
The worst performing stock was Ainsworth Game Technology Limited
(ASX:AGI), dropping 9.76 per cent to close at $3.33. Shares in Senex Energy Limited
(ASX:SXY) and Resolute Mining Limited
(ASX:RSG) also closed lower.
Commodities
Gold is trading at $US1,284 an ounce. Light crude is $0.30 down at $US93.35 a barrel. The Australian dollar is buying $US0.9295
