Market Wrap: Aus shares close flat

Market Reports

It’s been a bit of a lack-lustre session for the local share market today closing completely flat, after Wall Street finished flat on Monday,  It was a sea of red across the financials space, with losses in the big four banks. The materials space was mixed, with the big miners BHP and Rio Tinto losing ground, but the gold miners making some small gains. 
 
The S&P/ASX 200 index closed flat to finish at 5,167. 
 
The value of trades was $4.3 billion on volume of 661 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 down 9 points.
 
Company news

Shareroot Limited (ASX:SRO) has announced it has successfully renewed its contract with UCLA for a further 12 months and is significantly growing its sales team. Under the renewed contract UCLA will continue to use ShareRoot’s UGC platform to strengthen and develop its relationship and communications with students. Shares in Shareroot closed 8.33 per cent higher at $0.026. 
 
Kathmandu Holdings Limited (ASX:KMD) has announced a net profit of NZ$9.4 million for the six months ended 31 January 2016.
 
Cabcharge Limited (ASX:CAB) along with other industry participants and taxi networks have been authorised by the ACCC to launch and operate a new smart-phone taxi booking app. 
 
Ardent Leisure Group (ASX:AAD) says it will sell D’Albora Marinas, the largest marina group in Australia in order to focus on maximising the potential of the Group’s significant leisure and entertainment businesses.
 
Best and worst performers

The best performing sector was Telcos adding 1.7 per cent to close at 1,934. The worst performing sector was Materials, losing 0.6 per cent to close at 7,506 points.
 
The best performing stock in the S&P/ASX 200 was Ardent Leisure, rising 11.79 per cent to close at $2.18. Shares in TPG and Australian Pharmaceuticals also closed higher.
 
The worst performing stock was Independence Group, dropping 4.38 per cent to close at $3.06. Shares in Dulux and Estia Health also closed lower. 
 
Commodities and the dollar

Gold is trading at $US1,246 an ounce.
Light crude is $0.38 higher at $US41.52 a barrel.
The Australian dollar is buying $US0.7604.