Solid finish: Aus shares close 1.11% higher

Market Reports

by Carolyn Herbert

It has been a positive end to the trading session for the Australian share market, after bouncing higher at the open. The local bourse gathered steam towards the end of the session and ended up closing the day 1.11 per cent higher. Health Care was the star performer this session with solid gains in Sirtex (ASX:SRX) and CSL Limited (ASX:CSL). Telcos fared the worst with Telstra (ASX:TLS) finishing the day in the red.

At the closing bell the S&P/ASX 200 index closed 63 points up to finish at 5,737.

The value of trades was $5.4 billion on volume of 705 million shares at the close of trade. The top three stocks by value were Brambles (ASX:BXB), Westpac Banking Corporation (ASX:WBC) and Commonwealth Bank of Australia (ASX:CBA).

On the futures market the SPI is 61 points up.

Asian markets

Taking a look at how Asian markets are tracking in afternoon trade. The Nikkei is 0.06 per cent higher, Hong Kong’s Hang Seng is 0.96 per cent higher and the Shanghai Composite is 0.42 per cent higher.

Company news

Cochlear Limited (ASX:COH) has announced plans to expand its global manufacturing capacity with a new facility in China for the manufacture of Cohclear implants and sound processors for around $50 million. The hearing solutions company says China has become a Top 5 market for it and has significant potential for ongoing growth. The investment is part of a broader plan to increase production capacity across Cohclear’s product portfolio. Shares in Cohclear closed 2.37 per cent up at $153.50.

Pushpay Holdings Limited (ASX:PPH) has successfully completed the bookbuild for its US$25 million private placement.

Centuria Metropolitan REIT (ASX:CMA) has entered into agreements to purchase $150 million of commercial office assets.

Carnegie Clean Energy Limited (ASX:CCE) has received about $850,000 in grants, for its Australian and European-based government funded energy projects.

Best and worst performers

The best performing sector was Health Care adding 2.3 per cent to close at 23,325. The worst performing sector was Telcos, losing 0.15 per cent to close at 1,515 points.

The best performing stock in the S&P/ASX 200 was Incitec Pivot (ASX:IPL), rising 5.29 per cent to close at $3.58. Shares in BT Investment (ASX:BTT) and DuluxGroup (ASX:DLX) also closed higher.

The worst performing stock was Galaxy Resources (ASX:GXY), dropping 3.17 per cent to close at $1.99. Shares in Alumina (ASX:AWC) and Aveo Group (ASX:AOG) also closed lower.

Commodities and the dollar

Gold is trading at $US1,223 an ounce.
Light crude is $0.39 higher at $US45.62 a barrel.
The Australian dollar is buying $US0.7706.


Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.