The Australian share market leapt 1.3 per cent over today to post a weekly gain of 0.9 per cent. Wall Street’s upbeat momentum overnight rippled onto local shores with all sectors ending higher. The US Federal Reserve’s forecasts have see the Aussie dollar strengthen toward $US0.78.
The S&P/ASX 200 index rose 72 points today, extending the weekly gain of 52 points to close at 5,597.
The value of trades was $6.7 billion on volume of 1.23 billion shares at the close of trade.
The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA)
, National Australia Bank Limited (ASX:NAB)
and Woolworths Limited (ASX:WOW)
On the futures market the SPI is 74 points higher.
America’s major indices have climbed over the four trading days this week: The Dow Jones Industrial Average has gained 1.2 per cent. The S&P 500 Index has gained 1.3 per cent. The NASDAQ has gained 1.6 per cent. The 100 Index has gained 1.7 per cent.
APN News and Media Limited's (ASX:APN)
CEO Michael Miller has resigned to take on an appointment as Executive Chairman of News Corp (ASX:NWS)
for Australasia. APN has appointed Ciaran Davis to the top job from September who is currently CEO of the Australian Radio Network. Shares in APN News and Media gained 5.19 per cent to close at $0.81.
Bradken Limited (ASX:BKN)
says its CEO and Managing Director Brian Hodges will retire from his role after 18 years with the company. The industrial manufacturer says Mr Hodges will continue to serve in the role as an external and internal search for a replacement is conducted. Shares in Bradken fell 3.51 per cent to close at $1.93.
Shares in News Corp (ASX:NWS)
rose after the media company’s publications reported its CEO Australia Julian Clarke will depart at the end of the year and be replaced by Peter Tonagh.
Shares in Primary Health Care Limited (ASX:PRY)
ended higher after the healthcare group revealed its Chief Financial Officer Andrew Duff will leave at the end of September.
Best and worst performers
All sectors ended higher: The best performing sector was real estate investment trusts adding 2.6 per cent to close at 1,266.
The sector with the smallest gains was telco services, adding 0.7 per cent to close at 2,170 points.
The best performing stock in the S&P/ASX 200 was Arrium Limited (ASX:ARI)
, rising 11.11 per cent to close at $0.15. Shares in Village Roadshow Limited (ASX:VRL)
and Sundance Energy Australia Limited (ASX:SEA)
also closed higher.
The worst performing stock was Bradken Limited (ASX:BKN)
, dropping 3.51 per cent to close at $1.93. Shares in South32 Limited (ASX:S32)
and Cabcharge Australia Limited (ASX:CAB)
also closed lower.
The price of gold is buying $US1,202 an ounce, up $19.76 over the week.
Light crude is $0.49 lower at $US60.82 a barrel.
The Australian dollar is buying $0.7768, up $0.0042 over the week.