Flat line Friday: ASX200 0.03% lower & 3 pts down on week

Market Reports

by Jessica Amir

The Australian share market saw a flat yet red finish to close off the day and it also closed 3 points lower for the week.

After a sharp dive into the red at the open today, following on from Wall Street’s lacklustre leads, the local bourse tried to recover in the afternoon but closed just shy of the breakeven mark. Selling in Reits, Telcos and Consumer Discretionaries capped gains.

On the flip side, some of the shiniest results came from the Energy and Utility space, after the crude price rose overnight.

The big energy players like Santos (ASX:STO) and Worleyparsons (ASX:WOR) gained over 2 per cent while Oil Search (ASX:OSH) and Origin Energy (ASX:ORG) closed over 1 per cent higher. While Redlow (ASX:RFX) climbed over 10 per cent after announcing its AGM results.

At the closing bell the S&P/ASX 200 index closed 1.6 points lower, or 0.03 per cent lower to finish at 5,744.

The value of trades was $6.6 billion on volume of 1 billion 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 and Westpac (ASX:WBC).

On the futures market the SPI is 2 points up.

Asian markets

Japan’s Nikkei has added 0.56 per cent, Hong Kong’s Hang Seng has gained 1.14 per cent and the Shanghai Composite has added 1.57 per cent.

Wall Street

Wall Street closed higher over the four trading days.

The Dow Jones added 0.5 per cent. S&P 500 added 0.55 per cent and the Nasdaq gained 0.87 per cent. The 100 index added 0.75 per cent.

To company news now

Asia Pacific Data Centre Group (ASX:AJD) reported a 16.5 per cent lift its profit after tax to $36.9 million for the 2017 financial year. The data centre investment company’s revenue also strengthened, rising 15.5 per cent over the 12 months to 30 June 2017 and hit $39.3 millon. The bolstered results over the year came from an elevation in its investment property income. Shares Asia Pacific Data Centre Group (ASX:AJD) closed 0.27 per cent lower at $1.88

Qantas Group (ASX:QAN) has announced its second highest record profit after its underlying profit before tax hit $1.4 billion, beating its guidance on the back of a strengthening domestic market.

Sims Metal Management (ASX:SGM) has reported a 194 per cent leap in profit after tax to $203.6 million for the 2017 financial year.

Super Retail Group Limited (ASX:SUL) has announced a normalized net profit after tax of $135.8 million, up 25 per cent on the prior year.

The best and worst performers of the day

The best performing sector was Energy adding 1.26 per cent to close at 9,222.
The worst performing sector was Reits, shedding 1.19 per cent to close at 1,306 points.

The best performing stock in the S&P/ASX 200 was Nanosonics Limited (ASX:NAN), rising 14.16 per cent to close at $2.50. Shares in Platinum Asset Management Limited (ASX:PTM) and Asaleo Care Limited (ASX:AHY) also closed higher.

The worst performing stock in the S&P/ASX 200 was Automotive Holdings Group Limited (ASX:AHG), dropping 5.7 per cent to close at $3.31. Shares in Oz Minerals Limited (ASX:OZL) and Mayne Pharma Group Limited (ASX:MYX) also closed lower.

IPOs

Scout Security Limited (ASX: SCT) started trading today. The wireless home security company floated with an issue price of 20 cents, opened at 22.5 cents and it closed at 23.5 cents

Commodities and the dollar 

Gold is trading at $US1,287 an ounce.
Light crude is $0.79 lower at $US47.62 barrel.
One Australian dollar is buying 79.05 US cents.