Market Wrap: Aus shares close 0.94% lower

Market Reports

The Australian share market closed 0.94 per cent down. The health care sector was the only sector to finish in the black today. Banking stocks came under pressure as heavy falls in the miners held down the local sharemarket.
 
The S&P/ASX 200 index closed 49 points down to finish at 5,193. 
 
The value of trades was $5.3 billion on volume of 732 million shares at the close of trade. The top three stocks by value were National Australia Bank Limited (ASX:NAB), ANZ Banking Group (ASX:ANZ), Westpac Banking Corporation (ASX:WBC)
 
On the futures market the SPI is 51 points down.
 
Company news
 
Fairfax Media Limited (ASX:FXJ) has said FY16 year-to-date overall group revenues for continuing businesses are up 2 percent to 3 percent compared to the prior year. Fairfax chief executive Greg Hywood told investors the media conglomerate continues to face structural changes in publishing but that it would increase operating expenses in Domain to maintain the business’s growth trajectory. Shares in Fairfax Media closed 4.35 per cent down at $0.88. 
 
Recall Holdings Limited (ASX:REC) acquirer Iron Mountain Incorporated is working closely with the ACCC following concerns raised by the consumer watchdog. The ACCC released a statement flagging concerns over Iron Mountain’s $2.6 billion bid for Recall Holdings including issues of competitiveness and price increases. Shares in Recall Holdings closed 3.03 per cent down at $7.35. 
 
The Commonwealth Bank (ASX:CBA) has advised its unaudited cash earnings for the three months ended 30 September 2015 were approximately $2.4 billion.
 
Ardent Leisure Group (ASX:AAD) has announced robust unaudited revenue and earnings results for the quarter ended 30 September 2015.
 
Ooh!Media Limited (ASX:OML) has entered into an agreement to acquire 100 per cent of Inlink Group Limited for $45 million.
 
Domino’s Pizza Enterprises Limited (ASX:DMP) has announced strong first quarter results and upgraded full year 2016 guidance of 25 per cent growth over 2015 underlying NPAT and EBITDA.

Best and worst performers
 
The best performing sector was Health Care adding 0.02 per cent to close at 18,765. The worst performing sector was Financials Excluding REITS, losing 1.28 per cent to close at 6,794 points.
 
The best performing stock in the S&P/ASX 200 was Paladin Energy, rising 9.62 per cent to close at $0.29. Shares in Credit Corp Group and Broadspectrum also closed higher.
 
The worst performing stock was Ardent Leisure, dropping 13.59 per cent to close at $2.48. Shares in APN News and Media and LNG also closed lower. 

Commodities and the dollar
 
Gold is trading at $US1,111 an ounce.
Light crude is $1.58 down at $US46.32 a barrel.
The Australian dollar is buying $US0.7150

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