After a day spent mostly in the red the local share market clawed back some gains to close 0.46 per cent lower.
The banks continued to be a drag on the market today with Westpac, ANZ and NAB all down more than one per cent while Commonwealth bank finished flat.
A poor read on consumer sentiment added to the selling today while the SPI also pointed lower.
The S&P/ASX 200 index closed 24 points down to finish at 5,259.
The value of trades was $5.02 billion on volume of 785 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited
(ASX:BHP), Commonwealth Bank of Australia
(ASX:CBA) and ANZ Banking Group
(ASX:ANZ).
On the futures market the SPI is 29 points down.
Company news
Senex Energy Limited
(ASX:SXY) has started a review of its expenditure in response to current market conditions.
The oil and gas company will look at its capital, operating and administrative costs amid a potentially sustained lower oil price environment. Senex says it has already put measures in place to cut discretionary expenditure and has no plans or need to raise equity. Senex closed flat at at $0.24.
Charter Hall Retail REIT
(ASX:CQR) has seen gains today on news it bought the former Brickworks site in Adelaide for $7.55 million from retailing giant Woolworths Limited
(ASX:WOW).
The land is the future site of Brickworks Marketplace, a shopping centre to be constructed by Woolies with an estimated on-completion value of $75 million. Shares in Charter Hall closed 0.74 per cent up at $4.11.
AGL Energy Limited
(ASX:AGL) will mothball four generating units from its Torrens Island power station in Adelaide in 2017.
Australia’s largest natural gas infrastructure business APA Group
(ASX:APA) has bought a pipeline and announced an entitlement offer.
Capitol Health Limited
(ASX:CAJ) is set to acquire Southern Radiology Group and is launching a $37.5 million capital raising to fund the purchase.
Alexium International Group Limited
(ASX:AJX) has seen its shares jump almost ten per cent after it came out of a trading halt and announced a deal with the US army to develop flame retardant uniforms.
Best and worst performers
The best performing sector was materials adding 1.3 per cent to close at 8,520. The worst performing sector was health care, losing 2.1 per cent to close at 16,867 points.
The best performing stock in the S&P/ASX 200 was Resolute Mining Limited
(ASX:RSG), rising 10.64 per cent to close at $0.26. Shares in Mount Gibson Iron Limited
(ASX:MGX) and Regis Resources Limited
(ASX:RRL) also closed higher.
The worst performing stock was Horizon Oil Limited
(ASX:HZN), dropping 11.76 per cent to close at $0.15. Shares in BC Iron Limited
(ASX:BCI) and Sundance Energy Australia Limited
(ASX:SEA) also closed lower.
IPOs Godfreys Group Limited
(ASX:GFY) started trading today. The vacuum cleaner retailer listed with an issue price of $2.75, opened at $2.88 and closed at $2.85.
Centuria Metropolitan REIT
(ASX:CMA) started trading today. The suburban office real estate trust listed with an issue price of $2.00, opened at $2.10 and a closed at $2.10.
Commodities
Gold is trading at $US1,232 an ounce.
Light crude is $0.77 up at $US63.82 a barrel.
The Australian dollar is buying $US0.8314
