The Australian share market pushed higher on open this morning but the gains were gradually eroded and the market finished the day flat.
The healthcare sector continued to support the market after midday with Asaleo Care and Primary healthcare some of the day’s best performers.
Woolworths shares jumped this afternoon as the company’s CEO reaffirmed its 2015 profit guidance.
The S&P/ASX 200 index closed 5 points up to finish at 5,401.
The value of trades was $4.21 billion on volume of 617 million shares at the close of trade. The top three stocks by value were National Australia Bank Limited
(ASX:NAB), BHP Billiton Limited
(ASX:BHP) and Woolworths Limited
(ASX:WOW).
On the futures market the SPI is 5 points up.
Company news
Shares in Woolworths Limited
(ASX:WOW) have jumped more than 2 per cent after comments by the company’s Chairman and CEO at its AGM today.
Chairman of the supermarket giant, Ralph Waters says the company’s growth prospects are sound and in relation to the dip in its share price he says the market has drawn conclusions about the company’s outlook that the board does not share. CEO Grant O’Brien said sales trends are improving and he reaffirmed the company’s FY15 net profit guidance. Woolworths closed 2.16 per cent up at $31.75.
Shares in Vocation Limited
(ASX:VET) have slumped more than 15 per cent on news Chairman John Dawkins has resigned and will be replaced by Doug Halley, current chairman of DUET Group
(ASX:DUE).
The company finally conceded that one of its key subsidiaries had lost $20 million in government funding. Mr Dawkins says that he took into account shareholder views that the company needs to rebuild the support of its shareholders and instigate board renewal. Shares in Vocation closed 15.08 per cent down at $0.54.
Shares in Woodside Petroleum Limited
(ASX:WPL) have dipped despite its approval of the Persephone Project off the north-west coast of Australia today.
Rio Tinto Limited
(ASX:RIO) has approved the development of a fourth pipe at the remote sub-arctic Diavik diamond mine.
Beach Energy Limited
(ASX:BPT) has appointed Robert Cole to replace outgoing Managing Director Reg Nelson.
Melbourne IT Limited (ASSX:MLB) has announced a strategic new alliance with Tiger Pistol and new accreditation from Amazon Web Services.
Best and worst performers
The best performing sector was health care adding 2 per cent to close at 16,646. The worst performing sector was energy, losing 2.8 per cent to close at 12,781 points.
The best performing stock in the S&P/ASX 200 was ALS Limited
(ASX:ALQ), rising 4.26 per cent to close at $5.14. Shares in Asaleo Care Limited
(ASX:AHY) and Greencross Limited
(ASX:GXL) also closed higher.
The worst performing stock was Ainsworth Game Technology Limited
(ASX:AGI), dropping 7.82 per cent to close at $2.24. Shares in Evolution Mining
(ASX:EVN) and Beadell Resources Limited
(ASX:BDR) also closed lower.
Commodities
Gold is trading at $US1,190 an ounce.
Light crude is $0.40 down at $US73.69 a barrel.
The Australian dollar is buying $US0.8591
