After a midday dip the Australian share market managed to recover some ground this afternoon and closed 0.16 per cent up.
The major banks all pushed back into the green, apart from Australia and New Zealand Banking Group
(ASX:ANZ) which finished slightly lower.
The S&P/ASX 200 index closed 9 points up to finish at 5,416.
The value of trades was $5.49 billion on volume of 982 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia
(ASX:CBA), ANZ Banking Group
(ASX:ANZ) and BHP Billiton Limited
(ASX:BHP).
On the futures market the SPI is 19 points up.
Company news
AWE Limited
(ASX:AWE) has jumped to the day’s best performer on news its confirmed a significant gas discovery for the Waitsia Field in the north Perth Basin.
The oil and gas explorer believes the Senecio/Waitsia discovery is potentially the largest conventional onshore gas discovery in Western Australia since the 1960s. AWE closed 13.69 per cent up at $1.91.
Shares in Arrium Limited
(ASX:ARI) have slumped almost 30 per cent and it has dropped to the day’s worst performer on the S&P/ASX 200 after completing the institutional component of a $754 million capital raising.
The diversified miner says the institutional portion raised about $465 million as part of its $754 million equity raising which was announced on Monday. Shares in Arrium closed 29.2 per cent down at $0.40
Oroton Group Limited
(ASX:ORL) has lifted its net profit by 16 per cent in the full 2014 financial year.
Worleyparsons Limited
(ASX:WOR) has scored an engineering, procurement and construction management services contract from Chevron MunaiGas.
Cynata Therapeutics Limited
(ASX:CYP) announced its signed a license agreement with Cellular Dynamics International (Nasdaq:ICEL) for access to the company’s stem cell line.
The competition regulator has cleared Wesfarmers Limited
(ASX:WES) proposed acquisition of three Progressive Supa IGA stores to Coles.
Best and worst performers
The best performing sector was real estate investment trusts adding 1.2 per cent to close at 1,091. The worst performing sector was utilities, losing 0.9 per cent to close at 5,828 points.
The best performing stock in the S&P/ASX 200 was AWE Limited
(ASX:AWE), rising 13.69 per cent to close at $1.91. Shares in Drillsearch Energy Limited
(ASX:DLS) and Paladin Energy Limited
(ASX:PDN) also closed higher.
The worst performing stock was Arrium Limited
(ASX:ARI), dropping 29.2 per cent to close at $0.40. Shares in Northern Star Resources Limited
(ASX:NST) and Medusa Mining Limited
(ASX:MML) also closed lower.
Commodities
Gold is trading at $US1,224 an ounce.
Light crude is $0.46 down at $US94.42 a barrel.
The Australian dollar is buying $US0.8970
