Telcos fall, Energy gains: Aus shares close 0.17% lower

Market Reports

by Jessica Amir

It has been mostly negative day of trade for the Australian share market. After opening in the red, the local bourse managed push higher after receiving some better than expected economic data out of China.  But, the local bourse failed to maintain that steam and closed 0.17 per cent lower.

Half of the sectors saw lacklustre performance today, with Telcos underperforming throughout the day after TPG Telecom Ltd (ASX:TPM) and Telstra Corp (ASX:TLS) shares lost around 1.9 per cent each.

The shiner of day though was the Energy space, the only sector to gain around 1 per cent. It was propped up after Oil prices jumped on the back of better than expected Chinese GPD data.

At the closing bell the S&P/ASX 200 index closed 10 points /down to finish at 5,756.

The value of trades was $3.6 billion on volume of 568 million shares at the close of trade. The top three stocks by value were Telstra Corporation Limited (ASX:TLS), Commonwealth Bank of Australia (ASX:CBA) and BHP Billiton Limited (ASX:BHP).

On the futures market the SPI is 17 points up.

Asian markets 

The Nikkei is not trading for Marine day, Hong Kong’s Hang Seng is 0.62 per cent higher and the Shanghai Composite is 0.68 per cent higher.

To company news now

Bellamy's Australia (ASX:BAL) issued a supplementary prospectus giving shareholders the right to withdraw their applications, return issued securities and then repay them with application monies. Bellamy’s previously raised $14.3 million in gross proceeds through an institutional, non-renounceable entitlement offer. The newly issued right to withdraw, was issued after the organic baby food company’s 90 per cent purchased canning facility in Victoria, Camperdown Powder Pty Ltd, had their CNCA licence suspended. Meantime, the company reassured investors its full year sales and revenue will improve FY17. Belamy’s revenue is tipped to rise to $239 million for FY17. Shares in Belamy’s Australia (ASX:BAL) last traded at $6.74 with their share entering suspension today.

Village Roadshow (ASX:VRL) and Kirby family interests, have invested $1.5 million in anti video piracy firm, Linius Technology Limited (ASX:LNU). With a $1 million private placement from Village Roadshow and $500,000 from Kirby family interest (Robert G Kirby is Co-Executive Chairman and Co-Chief Executive Officer, Executive Director). 

ALS Limited (ASX:ALQ) has entered into an agreement to sell its multinational oil and gas business for $109 million. The analytical testing service giant is selling its oil and gas business to Chicago based Madison industries.

ChimpChange (ASX:CCA) has reported record customer growth and etched its strongest customer growth since its IPO.

The best and worst performers of the day

The best performing sector was Energy adding 0.95 per cent to close at 8,873.

The worst performing sector was Telcos, losing 1.77 per cent to close at 1,486 points.

The best performing stock in the S&P/ASX 200 was Beach Energy Limited (ASX:BPT), rising 6.72 per cent to close at 64 cents. Shares in South32 Limited (ASX:S32) and Virtus Health Limited (ASX:VRT) also closed higher.

The worst performing stock in the S&P/ASX 200 was Galaxy Resources Limited (ASX:GXY), dropping 4.4 per cent to close at $1.84. Shares in Medibank Private Limited (ASX:MPL) and CYBG Plc (ASX:CYB) also closed lower.

Commodities and the dollar 

Gold is trading at $US1,231 an ounce.

Light crude is 50 cents higer at $US46.75 a barrel.

One Australian dollar is buying 78.10 US cents.

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