Flat finish, half sectors in red: Aus shares close 0.02% lower

Market Reports

by Jessica Amir

It has been a flat finish for the Australian share market today, after trading higher for most the day, we ended up dipping our toes slightly into the red after the iron ore price fell and half of our sectors closed in negative territory.

The likes of Orica (ASX:ORI) and BHP (ASX:BHP) closed below the line, but it was the energy space that weighted the most, despite the oil price erasing some of yesterday’s losses. The likes of Beach Energy (ASX:BPT) lost 3.3 per cent.

On the flip side, the Consumer Discretionary sector took out the trump card while financial services giant, Amp (ASX:AMP) rose about 3.5 per cent after it received a upgrade from Credit Suisse.

At the closing bell the S&P/ASX 200 index closed 1 points down, or 0.02 per cent lower to finish at 5,738.

The value of trades was $3.9 billion on volume of 585 million shares at the close of trade.

The top three stocks by value were BHP Billiton Limited (ASX:BHP), Commonwealth Bank of Australia (ASX:CBA) and Rio Tinto Limited (ASX:RIO).

On the futures market the SPI is 9 points lower.

Asian markets

Japan’s Nikkei has added 0.45 per cent, Hong Kong’s Hang Seng has added 0.10 per cent and the Shanghai Composite has lost 0.33 per cent.

Company news 

Hybrid cloud company, NEXTDC (ASX:NXT) is seeking interim orders so 360 Capital stops buying securities of the takeover target, Asia Pacific Data Centre Group (ASX:AJD) until the Government’s Takeover Panel makes a decision. The Panel has not yet been appointed and no decisions have been made about the competing bids for Asia Pacific Data Centre Group. Shares in NEXTDC (ASX:NXT) closed 2.4 per cent higher at $4.69.

Praemium (ASX:PPS) the financial services software platform company, has set another record for inflows and funds under management.

Treasury Wine Estates (ASX:TWE) updated the market letting everyone know it’s doing all it can to keep its employees safe amid the deadly wildfires sweeping through California. The company also says the majority of its vineyards and wineries are not in the direct fire zone.

Bass Metals (ASX:BSM) which is just one of three publicly listed graphite producers in the world, has inked an agreement to sell 50 per cent of its stage 1 Graphmada Graphite production.

Best and worst performers of the day

The best performing sector was Consumer Discretionary adding 0.66 per cent to close at 2,156.
The worst performing sector was Energy, shedding 0.80 per cent to close at 9,143. points.

The best performing stock in the S&P/ASX 200 was Galaxy Resources Limited (ASX:GXY), rising 3.97 per cent to close at $3.14. Shares in Saracen Mineral Holdings Limited (ASX:SAR) and Japara Healthcare Limited (ASX:JHC) also closed higher.

The worst performing stock in the S&P/ASX 200 was Aconex Limited (ASX:ACX), dropping 3.73 per cent to close at $4.13. Shares in Beach Energy Limited (ASX:BPT) and Syrah Resources Limited (ASX:SYR) also closed lower. 

To commodities and the dollar 

Gold is trading at $US1,287 an ounce.
Light crude is $0.27 up at $US49.56 barrel.
One Australian dollar is buying 77.86 US cents.

 

Jessica Amir

Finance News Network
Jessica is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.