Negative territory: Aus shares close 0.49% lower

Market Reports

by Carolyn Herbert

It has been a disappointing end to the trading session for the Australian share market, opening in the red and remaining underwater for the rest of the session, closing the day 0.49 per cent lower. While most sectors finished the day in the red, it was REITs that fared the worst, followed by losses in Materials and Consumer Staples. Industrials was the shining light today, followed by Consumer Discretionaries and the Health Care space.

At the closing bell the S&P/ASX 200 index closed 28 points down to finish at 5,744.

The value of trades was $4.9 billion on volume of 718 million shares at the close of trade. The top three stocks by value were BHP Billiton Limited (ASX:BHP), Westpac Banking Corporation (ASX:WBC) and ANZ Banking Group (ASX:ANZ).

On the futures market the SPI is 33 points down.

Asian markets

Taking a look at how Asian markets are tracking in afternoon trade. The Nikkei is 0.56 per cent higher, Hong Kong’s Hang Seng is up 0.68 per cent and Shanghai Composite is 0.12 per cent higher.

Economic news

Latest data from the Australian Bureau of Statistics has shown dwellings approvals rose 0.1 per cent in June 2017, in trend terms, after falling for three months. In seasonally adjusted terms, dwelling approvals increased by 10.9 per cent in June.

Company news

ResApp Health Limited (ASX:RAP) has been placed into voluntary suspension, pending the release of an announcement relating to its Smartcough-C study. The company says it’s in the process of completing clinical data reviews prior to the release of top-line results from the study. Resapp anticipates the announcement will be released by next Wednesday at the latest. Shares in ResApp last traded at $0.31.

Genworth Mortgage Insurance Australia (ASX:GMA) has reported its net profit after tax fell 34.7 per cent in first half of 2017 to $88.7 million (compared to $135.8 million in the prior corresponding period).

APN Outdoor Group (ASX:APO) has won an extension on its State Transit contract with Sydney Buses, for a further five years, on improved financial terms.

Resmed Limited (ASX:RMD) has announced a 7 per cent increase in revenue to $556.7 million for the fourth quarter of FY17.

Best and worst performers

The best performing sector was Industrials adding 0.55 per cent to close at 5,605. The worst performing sector was REITs, losing 0.94 per cent to close at 1,317 points.

The best performing stock in the S&P/ASX 200 was CYBG (ASX:CYB), rising 7.15 per cent to close at $4.72. Shares in Genworth (ASX:GMA) and The Star Entertainment Group (ASX:SGR) also closed higher.

The worst performing stock was Resmed (ASX:RMD), dropping 5.69 per cent to close at $9.11. Shares in Sims Metal Management (ASX:SGM) and Syrah Resources (ASX:SYR) also closed lower.

IPOs

Nusantara Resources Limited (ASX:NUS) started trading today. The mineral exploration company floated with an issue price of $0.42, opened at $0.45 and closed at $0.45.

Commodities and the dollar

Gold is trading at $US1,265 an ounce.
Light crude is $1.38 lower at $US48.79 a barrel.
The Australian dollar is buying $US0.7958.






 

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.