Market Wrap: Aus shares close 0.89% lower

Market Reports

After spending five days straight in positive territory last week, the local share market looks to have run out of puff, closing the day 0.89 per cent lower. While all sectors finished in the red, gold stocks were the stand out performers today with the gold pricereaching a 7 year high, following more uncertainty by the Fed as to when it will hike interest rates. 
The S&P/ASX 200 index closed 47 points lower to finish at 5,233. 
The value of trades was $4.2 billion on volume of 674 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Telstra Corporation Limited (ASX:TLS) and Macquarie Group (ASX:MQG)
On the futures market the SPI is down 49 points.

Economic news

Latest data from the Australian Bureau of Statistics has shown a decline in personal and commercial lending finance for the month of August. Personal lending commitments fell 2.5 per cent seasonally adjusted to $7.18 billion. This is compared to July’s figure of $7.37 billion. 

Company news

Martin Aircraft Company Limited (ASX:MJP) says the latest model of its Prototype 12 aircraft has received New Zealand CAA approval for manned flight. The P12 family of Martin Jetpacks are the forerunner to the Martin Jetpack Next Generation Aircraft, which the company plans to deliver to First responder customers at the latter half of 2016. Shares in Martin Aircraft Company closed 32.56 per cent higher at 57 cents. 
Skydive the Beach Group (ASX:SKB) has signed an agreement to purchase Skydive Queenstown. Skydive Queenstown is New Zealand’s leading tandum skydiving company, with approximately 33 per cent market share. Shares in Skydive the Beach last traded at 32 cents. 
Rio Tinto Limited (ASX:RIO) has entered into a joint venture with Antipa Minerals Limited (ASX:AZY) which allows it to earn a 75 per cent interest in the Citadel project which includes the Calibre discovery.
Doray Minerals Limited (ASX:DRM) says development and construction at its Deflector Gold Project in Western Australia’s Murchison region is progressing well. 
Australian Industrial REIT (ASX:ANI) says that the Australian Government Takeovers Panel has declined to take any action over an off-market takeover bid by 360 Capital Industrial Fund. 
Cabcharge Limtied (ASX:CAB) says the ACCC has moved to deny authorisation of a new taxi booking app on the grounds it would have a significant impact on competition. 

Best and worst performers
The best of a bad bunch was Materials losing 0.35 per cent to close at 8,463. The worst performing sector was Energy, losing 2.3 per cent to close at 9,248 points.
The best performing stock in the S&P/ASX 200 was Evolution Mining, rising 11.52 per cent to close at $1.50. Shares in Independence Group and Regis Resources also closed higher.
The worst performing stock was Blackmores, dropping 6.35 per cent to close at $132.58. Shares in Dick Smith and Oil Search also closed lower. 
Commodities and the dollar

Gold is trading at $US1,159 an ounce.
Light crude is up 14 cents at $US50.14 a barrel.
The Australian dollar is buying 73.37 US cents.