Market Wrap: Aus shares close 0.25% higher

Market Reports

It’s fair to say it has been a day of volatility for the local share market. It opened the day in positive territory, however dipped in and out of the red, before closing the day in the black. The miners did the bulk of the heavy lifting today, however that was offset by weakness in the big four banks.
Today, the S&P/ASX 200 index closed up 13 points to finish at 5,041. Over the week the index lost 223 points. 
The value of trades was $6 billion on volume of 941 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 National Australia Bank Limited (ASX:NAB)
On the futures market the SPI is 24 points higher.

Overseas markets
Looking at Wall Street, US major indexes have fallen over the four trading days this week: The Dow Jones Industrial Average has lost 1.6 per cent. The S&P 500 Index has lost 1.9 per cent. The NASDAQ has retreated 2 per cent. The 100 Index has slipped 2.2 per cent. 
Company news

OzForex Group Limited (ASX:OFX) has just announced that AMP will become a substantial holder in the foreign exchange services company. AMP will take on more than 12 million shares, comprising a 5.05 per cent stake.  Shares in OzForex closed 0.24 per cent higher at $2.40. 
Dempsey Minerals Limited (ASX:DMI) has entered into an Option & Sale purchase agreement to acquire 100 per cent of Petroz Limited. Petroz is an unlisted public Australian oil company which has secured a 75% interest in an onshore oil license in Western Turkey. Shares in Dempsey Minerals last traded at 6 cents. 
Mesoblast Limited (ASX:MSB) says the regenerative stem cell product JR-031 developed by its Japanese partner has been recommended for approval in Japan. 
Lend Lease Group (ASX:LLC) says it has begun the $240 million redevelopment of the Macarthur Square Shopping Centre in south west Sydney. 
Best and worst performers

The best performing sector was Utilities adding 1.5 per cent to close at 6,432. The worst performing sector was Energy, losing 0.8 per cent to close at 8,694 points.
The best performing stock in the S&P/ASX 200 was M2 Group (ASX:MTU), rising 8.17 per cent to close at $9.00. Shares in Mesoblast and Senex Energy also closed higher.
The worst performing stock was Cardno Limited (ASX:CDD), dropping 6.12 per cent to close at $2.30. Shares in AWE Limited and UGL Limited also closed lower. 

The price of gold is trading at $US1,126 an ounce, and is down $6.20 over the week.
Light crude is 50 cents higher at $US46.75 a barrel.
The Australian dollar is buying 69.79 US cents and down 1.88 US cents over the week.