Market Wrap: Aus shares continue advance

Market Reports

 
The Australian share market couldn’t hold on to all its early gains but did finish half a per cent higher today. 
 
Further gains in the price of iron ore and other commodities gave investors heart while the Aussie dollar continued its rebound 
 
The S&P/ASX 200 index closed 27 points up to finish at 5,216. 
 
The value of trades was $5.5 billion on volume of 853 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Rio Tinto Limited (ASX:RIO) and Commonwealth Bank of Australia (ASX:CBA)
 
On the futures market the SPI is 15 points up.

Economic news

A housing survey from NAB has shown expectations for house price growth over the next 12 months has risen in the past quarter after falling the three quarters before that. Foreign buyers also declined, falling to a 2.5 year low of 11.8 per cent down from a peak of 16.8 per cent in the third quarter of 2014

Company news
 
Decmil Group Limited (ASX:DCG) says that it has won $24 million worth of new business. Decmil was awarded the New Norcia bypass in Western Australia worth $14 million. Subsidiary Cut & Fill has won contracts from VicRoads to strengthen a number of Monash Freeway overpasses for $10 million. Decmil Group closed 0.64 per cent higher at $0.79. 
 
Clean Seas Tuna Limited (ASX:CSS) says it still has to confirm that changes to the winter feed practices of its farmed fish will result in a $2 million profit improvement. Whilst research has indicated adjusting the feed practices will lead to fish putting on weight more quickly the gains are yet to be verified. Shares in Clean Seas Tuna jumped 2.7 per cent to 3.8 cents. 
 
Corporate Travel Management Limited (ASX:CTD) has paid $28 million for Travizon Travel, a US travel company that has been in business for over 40 years. 
 
BHP Billiton Limited (ASX:BHP) has again lowered its iron ore production guidance blaming bad weather and a rail network maintenance program.
 
SomnoMed Limited (ASX:SOM) says strong growth in the sales of its sleep apnea devices has lifted third quarter revenue by 32 per cent compared to last year. 
 
And Macquarie Atlas Roads Limited (ASX:MQA) says revenue for the March quarter increased 7.3 per cent on last year.
 
Best and worst performers of the day

The best performing sector was materials adding 2.1 per cent to close at 8,178. The worst performing sector was consumer discretionary, losing 0.2 per cent to close at 1,952 points.
 
The best performing stock in the S&P/ASX 200 was Select Harvests, rising 6.35 per cent to close at $5.36. Shares in Oil Search and Seven Group Holdings also closed higher.
 
The worst performing stock was Mesoblast, dropping 6 per cent to close at $2.35. Shares in James Hardie and Mayne Pharma also closed lower. 
 
Commodities

Gold is trading at $US1,249 an ounce. Light crude is up $1.28 at $US42.47 a barrel. The Australian dollar is buying 77.81 US cents. 

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