The Australian share market lifted from the morning’s lows to end the first session of the week 0.4 per cent higher. Most sectors managed to move higher by close, supported by strength among the miners and BHP Billiton Limited (ASX:BHP)
The S&P/ASX 200 index rose 24 points to close at 5,590.
The value of trades was $3.6 billion on volume of 533 million shares at the close of trade.
The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA)
, BHP Billiton Limited (ASX:BHP)
and ANZ Banking Group (ASX:ANZ)
On the futures market the SPI is 19 points higher.
Shares in Atlas Iron Limited (ASX:AGO)
plunged after emerging from a 16-week trading halt. The iron ore miner suspended trade in April and has since raised $87 million, falling under the $180 million it was targeting. Shares in Atlas Iron plunged 70 per cent to close at $0.04.
Ten Network Holdings Limited (ASX:TEN)
has announced its CEO and Chairman Hamish McLennan will step down immediately. The media company has appointed David Gordon as Chairman and current COO and CFO Paul Anderson will become CEO. Shares in Ten Network Holdings rose 2.38 per cent to close at $0.21.
Shares in Northern Star Resources Limited (ASX:NST)
leapt to the best performer in the benchmark index after the miner posted annual gold sales at the upper end of guidance.
Westpac Banking Corporation (ASX:WBC)
has flagged plans to raise about $750 million to put to the bank’s general business purposes and strengthen its overall capital position.
Global education services provider Navitas Limited (ASX:NVT)
has increased its annual profit over the 2015 financial year but flagged steady earnings in the year ahead.
Provider of commercial explosives and blasting systems Orica Limited (ASX:ORI)
has announced Martin Parkinson will join the board as a non-executive director.
Best and worst performers
The best performing sector was REITs, adding 2.7 per cent to close at 1,292.
The worst performing sector was industrials, losing 0.1 per cent to close at 4,786 points.
The best performing stock in the S&P/ASX 200 was Northern Star Resources Limited (ASX:NST)
, rising 7.43 per cent to close at $2.17. Shares in Regis Resources Limited (ASX:RRL)
and Newcrest Mining Limited (ASX:NCM)
also closed higher.
The worst performing stock was Liquefied Natural Gas Limited (ASX:LNG)
, dropping 8.81 per cent to close at $3.21. Shares in Navitas Limited (ASX:NVT)
and Syrah Resources Limited (ASX:SYR)
also closed lower.
Gold is buying $US1,100 an ounce.
Light crude is $0.31 lower at $US48.14 a barrel.
The Australian dollar is buying $US0.7293.