Australian Stock Market Report

This is the Australian stock market closing report for Wednesday, 25 May 2016

 

In overnight trading a positive new home sales report saw the US major averages rally greater than 1% and crude oil finished the session 1.1% higher

 

The strong overnight session created multiple positive leads for the Australian stock market across all sectors in today’s trading

 

The ASX 200 close to higher by 1.45% or 77 points to 5372

 

The day’s trading range was 99 points with the high of the session at 5394 and the low of the session at 5295

 

Market breadth was significantly positive with 173 advancing stocks versus 22 declining stocks and five stocks unchanged

 

The energy sector was the strongest sector of the session closing higher by 2.68%

 

Worley Parsons lead the components closing to the upside 7.6%, Origin Energy was higher by 3.7% and Whitehaven Coal was up 3.45%

 

The Telecommunication Services sector was higher by 1.79%

 

TPG Telecom was up 1.8%, Telstra Corporation was higher by 1.8% and Spark New Zealand was higher by 1.8%

 

The Financial sector was higher by 1.61%

 

CYBG lead the components higher 11.42% to close at all-time highs, OZ Forex was up 3.65%, and Macquarie Group was up 2.7%

 

The big four banks all finished in the green with ANZ higher by 2% or $.50 to $25.28, the Commonwealth Bank was higher by 1.1% or $.83 to $78.39

National Australia Bank was higher by 1.9% or $.51 to $27.48 and Westpac was higher by 2.2% or $.66 to $30.44

 

The Consumer Discretionary sector was up 1.54%

Ardent Leisure was up 5%, Seven West Media up 4.8% and G8 Education was up 3.7%

 

Within the Material Sector Incitec Pivot, Adelaide Brighton, and Independence Group all closed positive by greater than 4%

 

BHP Billiton was up 2.8% or $.52 to $18.90 and Rio Tinto was higher by 1.9% or $.83 to $45.03

 

In economic news

 

The Australian Bureau of Statistics is reporting in the preliminary construction work done for March 2016 report

 

That the seasonally adjusted estimate for total construction work fell 2.6% in the March quarter to 2016 missing economists’ expectations of a 1.5% drop

 

The trend estimate for non-residential building work done fell 1.6% and residential building work rose 2.2%

 

And the seasonally adjusted estimate for engineering work done fell 4.2% in the March quarter

 

The Department of Employment released its Internet Vacancy report for the month of April

 

Indicating that the month over month change across the eight industry groups monitored saw a total increase of 2.8% in online job advertisements

 

And that all states and territories saw a month over month increase in online job advertisements with the exception of the Northern Territory which contracted 0.5%

 

The five most active stocks were Telstra Corporation with the volume of 23.21 million, Mirvac Group with 15.66 million, Fortescue Metals with 15.4 million, Qantas with 15.26 million and Santos with 14.73 million shares changing hands

 

The five best performers were Australian Agriculture higher by 12.4%, CYBG up 11.4%, Programmed Maintenance higher 10.2%, Worley Parsons up 7.6% and Ardent Leisure up five percent.

 

The five worst performers were Saracen Mineral Holdings down 10.2%, Mesoblast down 7.2%, Newcrest Mining down 5.1%, Saint Barbara lower 3.85% in Northern Star Resources down 2.4%

 

This has been the Australian stock market closing report for Wednesday, 25 May 2016, and I have been your host, Aaron Furst, I’ll see you again next time

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