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The Australian share market traded in the red today with losses extending after lunch and the market closed 0.47 per cent down.
Today’s CAPEX figure from the ABS showed private capital goods investment was up 1.1 per cent on last quarter. Despite the improvement the figure was 4 per cent lower over the year and there are expectations that weak capital expenditure will increasingly drag on growth.
The Aussie dollar responded positively to the news, rising to $US0.9355, slightly above yesterday’s value at the close.
The S&P/ASX 200 index closed 27 points down to finish at 5,624.
The value of trades was $5.19 billion on volume of 1.04 billion shares at the close of trade. The top three stocks by value were Veda Group Limited (ASX:VED), BHP Billiton Limited (ASX:BHP) and Commonwealth Bank of Australia (ASX:CBA)
On the futures market the SPI is 27 points down.
Company news
Qantas Airways Limited (ASX:QAN) has missed expectations and grown losses to $2.8 billion in the 2014 financial year. The airline has blamed restructuring charges and major write downs on its international fleet as driving the net loss figure. Revenue for the airline is down 3 per cent as capacity growth has exceeded demand. The loss didn’t phase investors with Qantas shares closing 6.95 per cent up at $1.39
Ramsay Health Care Limited (ASX:RHC) has reported a 14 per cent boost in full year net profit. The private hospital operator booked a net profit of $303.8 million in the year to June with strong growth in Australian hospitals and the acquisition of French operator Medipsy driving the gains. The company’s underlying profit figure came in above expectations as did revenue which grew 17.6 per cent to $4.9 billion. Shares in Ramsay closed 1.42 per cent up at $52.06
Billabong International Limited (ASX:BBG) has trimmed its full year loss to $233.7 million as it pushes its turnaround strategy into full swing.
Nine Entertainment Co Holdings Limited ( ASX:NEC) has reported a profit slide of 95 per cent to $58 million in the 2014 financial year.
Prime Media Group Limited (ASX:PRT) has reported a higher net profit figure in the 2014 financial year but says advertising conditions remain tough.
Vocus Communications Limited (ASX:VOC) has seen its net profit climb 154 per cent to almost $13 million in fiscal 2014.
Best and worst performers
The best performing sector was telco services adding 0.06 per cent to close at 1,935. The worst performing sector was materials, losing 1.1 per cent to close at 10,072 points.
The best performing stock in the S&P/ASX 200 was Qantas Airways Limited (ASX:QAN), rising 6.95 per cent to close at $1.39. Shares in Mesoblast limited (ASX:MSB) and Recall Holdings Limited (ASX:REC) also closed higher.
The worst performing stock was Buru Energy Limited (ASX:BRU), dropping 8 per cent to close at $0.92. Shares in Atlas Iron Limited (ASX:AGO) and Japara Healthcare Limited (ASX:JHC) also closed lower.
Commodities
Gold is trading at $US1,287 an ounce.
Light crude is $0.02 up at $US93.88 a barrel.
The Australian dollar is buying $US0.9355
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