The Australian share market closed 0.55 per cent higher
The S&P/ASX 200 index closed 30 points up to finish at 5,372 after being as high 5,425.20 in early morning trade.
The value of trades was $6.2 billion on volume of 846 million shares at the close of trade. The top three stocks by value were WBC, CBA and WOW.
On the futures market the SPI is 25 points up.
Graincorp Limited (ASX:GNC)
has recorded a more than 30 percent slide in statutory net profit to $20.4 million in the six months to March-end. CEO and Managing Director cited a subdued market and the expensive price of eastern Australian grain in global markets during the half year. The agribusiness will pay an interim dividend of 7.5 cents per share.
Shares in Graincorp closed 2 per cent down at $7.83.
Covata Limited (ASX:CVT)
is set to partner with government body the Foreign & Commonwealth Office Services in a reseller agreement. The deal is to supersede the heads of agreement announced in April which is intended to not only enable FCOS to be a customer of Safe Share, but also facilitate sales into other UK government departments and agencies.
Shares in Covata closed 20.41 per cent up at $0.29.
Fairfax Media Limited (ASX:FXJ)
has announced it is in exclusive discussions with APN News & Media Limited to explore a merger between the two company’s New Zealand businesses.
CSR Limited (ASX: CSR) has reported a 13 percent rise in full year net profit (before significant items), to $166 million, its best result since the divestment of the Sugar business in 2010.
National Storage REIT Limited (ASX:NSR)
has acquired a telecommunications tower in Melbourne for $12.5M to be funded from its debt facility.
AWE Limited (ASX: AWE) has rejected a cash takeover offer of 80c per share from private equity firm, Lone Star Japan Acquisitions on behalf of a Lone Star Fund.
Best and worst performers
The best performing sector was Materials adding 2.65 per cent to close at 7,951. The worst performing sector was REITs, losing 1.0 per cent to close at 1,440 points.
The best performing stock in the S&P/ASX 200 was Bellamys, rising 8.01 per cent to close at $12.13. Shares in Northern Star Resources and St Barbara also closed higher.
The worst performing stock was Flight Centre, dropping 3.07 per cent to close at $39.16. Shares in Mesoblast and OzForex also closed lower.
Gold is trading at $US1,274 an ounce.
Light crude is $1.42 up at $US44.66 a barrel.
The Australian dollar is buying $US0.7369