Flat end to week: ASX200 0.2% higher on Friday

Market Reports

by Liz Pal

It has been a positive end for the Australian share market. After opening in the black, the local bourse was pretty much flat around midday, but gained momentum in the afternoon, ending on a positive note, 0.2 per cent higher.

As for the sectors, Consumer Staples and REITs led the charge both rising 0.9 per cent. The likes of Costa Group (ASX:CGC), added about 6.7 per cent. On the property front, Vicinity Centres (ASX:VCX) rose 1.1 per cent.

Iron ore is continuing to slip, but was Energy, which was our weakest sector today, shedding the most, with Santos (ASX:STO) losing 1.5 per cent.

At the closing bell the S&P/ASX 200 index closed 11 points up, or 0.2 per cent higher to finish at 5,682. For the week we are 0.54 points lower.

The value of trades was $6.1 billion on volume of 740 million shares at the close of trade. The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Rio Tinto Limited (ASX:RIO) and BHP Billiton Limited (ASX:BHP),

On the futures market the SPI is 15 points up.

Asian markets 

Japan’s Nikkei has lost 0.03 per cent, Hong Kong’s Hang Seng has added 0.33 per cent and the Shanghai Composite has gained 0.15 per cent.

Wall Street
The Dow Jones gained 0.14 per cent the S&P500 gained 0.31 and the Nasdaq gained 0.41. The 100 index almost flat at 0.01 percent higher.


Local economic news

The RBA advised housing, personal and business credit data month on month remained flat at 0.5 per cent. However, private sector credit slightly slipped year-on-year to 5.5 per cent to August 2017, compared to 5.8 per cent in the prior corresponding period (pcp).

Company news

Centuria’s Industrial REIT (ASX:CIP) has grown its portfolio to over $1 billion. It comes as the property fund manager completed the settlement of a Western Australia property in Bibra Lake for $28 million,.
Three properties were also settled in the first quarter of FY18 for $76.2 million, attributing their lease renewal with Australian Wool Handlers (AWH), which is now unconditional. Shares in Centuria Property Funds (ASX:CIP) closed 1.21 per cent higher at $2.50.

Looking at more headlines:

AMP (ASX:AMP) will offer shareholders in the UK and selected overseas locations, the option to sell their shares through a share sale service. 

Redflow (ASX:RFX) expects negative operating cash flow, with estimated cash outflows for the current quarter of $5.7million.

and Artemis Resources (ASX) has uncovered a further 95.5 ounces of golf at their Silica Hills Project in Western Australia.

IPOs

Doriemus (ASX:DOR) started trading today. The oil and gas company floated with an issue price of 26 cents, opened at 50 cents and it closed at trading at 50 cents.

Best and worst performers of the day

The best performing sector was Consumer Staples rose 0.9 per cent to close at 9, 309.
The worst performing sector was Energy, loosing 0.66 per cent to close at 9, 252 points.

The best performing stock in the S&P/ASX 200 was Magellan Financial Group Limited (ASX:MFG), rising 5.86 per cent to close at $24.56. Shares in Orocobre (ASX:ORE) and Galaxy Resources (ASX:GXY) also closed higher.

The worst performing stock in the S&P/ASX 200 was Sirtex Medical (ASX:SRX), dropping 3.88 per cent to close at $13.36. Shares in Orica (ASX:ORI) and Primary Health Care Limited (ASX:PRY) also closed lower.

To commodities and the dollar

Gold is trading at $1,285 US an ounce.
Light crude is $0.55 lower at $51.59 US barrel.
One Australian dollar is buying 78.41 US cents.