It has been a bit of a temperamental session for the local share market today moving in and out of the red all day before closing 0.15 per cent lower. The materials space was the star performer this session with gains in the big miners BHP and Rio Tinto, as well as gold and lithium stocks. The energy space also had a solid session with Senex Energy the shining light, jumping more than 15 per cent. Three out of the four big banks closed lower, with NAB the only exception today gaining around 0.7 per cent.
The S&P/ASX 200 index closed 8 points down to finish at 5,362.
The value of trades was $4.2 billion on volume of 654 million shares at the close of trade. The top three stocks by value were ANZ Banking Group (ASX:ANZ)
, Commonwealth Bank of Australia (ASX:CBA)
and Newcrest Mining (ASX:NCM)
On the futures market the SPI is 9 points lower.
Liquefied Natural Gas Limited (ASX:LNG)
has responded to an article in the Australian Financial Review regarding takeover speculation. Following a more than 60 per cent surge in the share price over three trading sessions, the company told the market it was not aware of or in any discussions relating to a takeover. Shares in LNG closed 4.88 per cent higher at $1.07.
Insurance Australia Group Limited (ASX:IAG)
has announced that it has received around 10,000 claims in relation to the recent storms that affected much of Australia’s east coast.
Stockland Corporation Limited (ASX:SGP)
has acquired 95 hectares of residential land in northwest Sydney for $290 million.
Sky Network Television (ASX:SKT)
and Vodafone will merge to create an integrated telecommunications and media group in New Zealand.
Best and worst performers
The best performing sector was REITs adding 0.6 per cent to close at 1,463. The worst performing sector was Telcos, losing 0.7 per cent to close at 2,028 points.
The best performing stock in the S&P/ASX 200 was Sky Network, rising 20.48 per cent to close at $5.00. Shares in Independence Group and St Barbara also closed higher.
The worst performing stock was Amcor, dropping 8.05 per cent to close at $14.85. Shares in Incitec Pivot and Spark Infrastructure also closed lower.
9 Spokes International Limited (ASX:9SP)
started trading today. The cloud based business software platform listed with an issue price of $0.20, opened at $0.18 and closed at $0.15.
Commodities and the dollar
Gold is trading at $US1,262 an ounce.
Light crude is $0.87 higher at $US51.23 a barrel.
The Australian dollar is buying $US0.7464.