It has been a positive negative day of trade for the Australian share market. After sharply rising at the open, defying mixed news from Wall Street, the local bourse managed to push higher and gain momentum throughout the session before closing 0.68 per cent higher.
Most of the sectors traded higher today, with Healthcare, Consumer Staples and Industrials leading the charge, all closing over 1 per cent up.
The only sectors bucking the upward trend were Telcos and Energy, with the likes of TPG Telecom (ASX:TPM) falling over 2 per cent, while Redflow (ASX:RFX) lost over 3.8 per cent.
At the closing bell the S&P/ASX 200 index closed 39 points up to finish at 5,727.
The value of trades was $4.6 billion on volume of 716 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), BHP Billiton Limited (ASX:BHP) and Rio Tinto Limited (ASX:RIO).
On the futures market the SPI is 44 points higher.
Taking a look at how Asian markets are tracking in afternoon trade. The Nikkei is 0.1 per cent lower, Hong Kong’s Hang Seng is 0.11 per cent lower and the Shanghai Composite is 0.38 per cent down.
Asia Pacific Data Centre (ASX:AJD) has received a conditional, off-market takeover offer from 360 Capital Group (ASX:TGP) to buy its shares for $1.80 cash per APDC share. The real estate investment trust says although the offer is subject to a number of conditions, including due-diligence it intends to provide due diligence information to the company (360 Capital). However at this stage, its directors are continuing to recommend shareholders vote against the transaction. Shares in 360 Capital Group (ASX:TGP) closed 1.02 per cent lower at $0.97
Vicinity Centres Limited (ASX:VCX) announced an on-market buy-back, of up to five per cent, of its issued ordinary securities. Super Retail Group (ASX:SUL) says it will convert its Amart Sports stores into Rebel stores, by 31 October 2017 to expand its Rebel brand’s footprint to almost 160 stores. It will also discontinue Amart Stores from 1 November 2017.
Mitula Group Limited (ASX:MUA) has reduced its full 2017 year EBITDA guidance to be between $12 million and $13 million, while it also dropped its revenue guidance range to be between $34 million and $36 million.
Best and worst performers of the day
The best performing sector was Healthcare adding 1.56 per cent to close at 22,844. The worst performing sector was Telcos, losing 0.92 per cent to close at 1,446 points.
The best performing stock in the S&P/ASX 200 was Isentia Group Limited (ASX:ISD), rising 5.16 per cent to close at $2.24. Shares in Mayne Pharma Group Limited (ASX:MYX) and Newcrest Mining Limited (ASX:NCM) also closed higher.
The worst performing stock in the S&P/ASX 200 was Sky Network Television Limited (ASX:SKT), dropping 4.89 per cent to close at $3.11. Shares in Coca-Cola Amatil Limited (ASX:CCL) and Speedcast International Limited (ASX:SDA) also closed lower.
Commodities and the dollar
Gold is trading at $US1,257 an ounce.
Light crude is $0.71 higher at $US46.48 a barrel.
The Australian dollar is buying 79.40 US cents.