It was a flat lunchtime for the Australian share market but it managed to gain momentum and closed 0.1 per cent higher. Cimic (ASX:CIM) shares have dropped despite their CPB contractors winning the $423 million contract for Perth’s Metronet yesterday. Shares in OZ Minerals (ASX:OZL) have dipped today after reporting Cassini Resources (ASX:CZI) acquired the exclusive rights to Traka Resources Ltd’s (ASX:TKL) West Musgrave tenement package. This will now become part of the West Musgrave Joint Venture Project with OZ Minerals (ASX:OZL). As for the sectors today utilities closed the day the highest and Real Estate Investment Trust fell lower.
The S&P/ASX200 index
At the closing bell the S&P/ASX 200 index closed 4 points higher to finish at 6,851.
Dow futures are suggesting a rise 3 points.
S&P 500 futures are eyeing a fall of 1 points.
The Nasdaq futures are eyeing a fall of 2 points.
And the ASX200 futures are eyeing a 12 point rise tomorrow morning.
Local Economic news
The Westpac MI leading index six month annualised growth rate fell from negative 0.78 per cent in October to negative 0.81 per cent in November.
Energy infrastructure business, APA Group (ASX:APA) has entered into a new gas transportation agreement on the East Coast Grid with AGL Energy (ASX:AGL). The new two year multi-asset, multi-service agreement replaces an expiring contract with AGL and will start in the new year. Annual contract value remains at similar levels to the expiring contract. Shares in APA Group (ASX:APA) closed 1.9 per cent higher at $11.48.
Westpac Banking Corporation (ASX:WBC) today confirmed that it has been served with a class action filed by Phi Finney McDonald on behalf of certain shareholders who acquired an interest in Westpac securities between 16 December 2013 and 19 November 2019.
The ACCC will not oppose Seven West Media’s (ASX:SWM) proposed acquisition of Prime Media Group (ASX:PRT). The approval of the deal is made on the basis that Seven West Media will divest its Spirit and RedFM radio networks in regional WA to a third party to meet requirements of the Broadcasting Services Act 1992.
Coca-Cola Amatil (ASX:CCL) is set to say goodbye to Martyn Roberts as their Group Chief Financial Officer to take up a position with Ramsay Health Care (ASX:RHC).
Mineral exploration Godolphin Resources (ASX:GRL) started trading today. The Mineral Exploration company issued at $0.20, started trading at $0.20 and closed at $0.20.
Best and worst performers
The best performing sector was Utilities adding 1 per cent while the worst performing sector was Real Estate Investment Trust, shedding 0.4 per cent.
The best performing stock in the S&P/ASX 200 was Clinuvel Pharmaceuticals (ASX:CUV), rising 6 per cent to close at $29. Shares in Galaxy Resources (ASX:GXY) and Corporate Travel Management (ASX:CTD) followed higher.
The worst performing stock in the S&P/ASX 200 was Oz Minerals (ASX:OZL), dropping 5.3 per cent to close at $10.92. Shares in Virgin Money UK (ASX:VUK) and SmartGroup Corp (ASX:SIQ) followed lower.
Lower: Japan’s Nikkei has lost 0.5 per cent, Hong Kong’s Hang Seng has lost 0.1 per cent and the Shanghai Composite has also lost 0.1 per cent.
Commodities and the dollar
Gold is trading at US$1,477 an ounce.
Iron ore price is flat at US$94.07.
Iron ore futures are pointing to a fall of 0.3 per cent.
Light crude is US$0.40 lower at US$60.47 a barrel.
One Australian dollar is buying 68.45 US cents.