Market Wrap: Aus shares close 0.48% lower

Market Reports

The Australian share market got 2016 off to a rocky start, moving into session lows into the close. The local bourse closed 0.5 percent lower with gains in energy and agriculture stocks offset by concerns surrounding global growth. 
 
The S&P/ASX 200 index closed 25 points down to finish at 5,271. 
 
The value of trades was $3.1 billion on volume of 442 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corporation (ASX:WBC) and ANZ Banking Group (ASX:ANZ)
 
On the futures market the SPI is 25 points down.

Economic news
 
The Chinese yuan fell sharply and China stocks slumped as data highlighted China’s factory activity contracted for the 10th consecutive month in December. The Caixin/Markit Manufacturing PMI came in below expectations at 48.2.
 
Company news
 
Amaysim Australia Limited (ASX:AYS) is acquiring mobile virtual network operator Vaya. The mobile services provider will pay $20 million for the Brisbane-based company and will also assume $50 million of liabilities to Optus. Shares in Amaysim closed 19.57 per cent up at $2.75. 
 
Imugene Limited (ASX:IMU) has hired Stuart Roberts as Head of Corporate Development, effective immediately. The former Head of Investor Relations for Prima BioMed will oversee Imugene’s Investor Relations programme globally. Shares in Imugene closed flat at $0.012. 
 
Amcor Limited (ASX:AMC) has announced the acquisition of a US packaging business for $62 million dollars.
 
PolyNovo Limited (ASX:PNV) says it has received regulatory approval from the US Food & Drug Administration for its Biodegradable Temporising Matrix. 
 
Woodside Petroleum Limited (ASX:WPL) says it has made a successful gas discovery off the coast of Myanmar. 
 
Dick Smith Holdings Limited (ASX:DSH) has requested an immediate trading halt from the ASX, pending an announcement about its latest debt funding position and financing covenants.

Best and worst performers 

The best performing sector was Energy adding 3.05 per cent to close at 8,255. The worst performing sector was Financials Excluding REITS, losing 1.2 per cent to close at 7,141 points.
 
The best performing stock in the S&P/ASX 200 was Worley Parsons, rising 7.34 per cent to close at $4.97. Shares in Australian Pharmaceutical Industries and Beach Energy also closed higher.
 
The worst performing stock was Breville Group, dropping 5.09 per cent to close at $7.09. Shares in CIMIC Group and Ten Network Holdings also closed lower. 

Commodities and the dollar
 
Gold is trading at $US1,066 an ounce.
Light crude is $0.78 up at $US37.82 a barrel.
The Australian dollar is buying $US0.7224