{"id":62117,"date":"2013-07-05T17:29:02","date_gmt":"2013-07-05T07:29:02","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2013\/07\/05\/australian-stocks-what-happened-today-123\/"},"modified":"2013-07-05T17:29:02","modified_gmt":"2013-07-05T07:29:02","slug":"australian-stocks-what-happened-today-123","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2013\/07\/05\/australian-stocks-what-happened-today-123\/","title":{"rendered":"Australian Stocks: What Happened Today?"},"content":{"rendered":"

\n\tBy Stephen Hogan<\/a>, Senior Private Client Adviser, Equities\/Derivatives<\/p>\n

\n\tAustralian Market<\/strong><\/p>\n

\tThe Australian market (XJO) closed up 47.0 points or 0.98% to 4841.7 today. Another strong morning on the market, rallying on the open to the day's high of 4853.4, then spending the rest of the day ranging. The U.S. was closed over night but it looks like we took a good lead from Europe with the FTSE 100 gaining 191.80 points or 3.08% to 6,421.67. Most sectors were higher today, the best being Information Technology rising 1.63% and the worst performer of the day was the Gold sector, falling -2.20%.<\/p>\n

\n\tSome economic data released today was Australia's construction sector fell for the month of June. The Australian Industry Group\/Housing Industry Association Australian Performance of Construction Index (PCI) gained 4.2 points to 39.5 in June. A reading below 50 represents a fall in the sector. Although the PCI has dropped for the 37th month, the pace of decline is sowing up.<\/p>\n

\n\tTelstra Corporation Limited ((TLS)) has sealed a 5 year government deal worth $32 million. The deal will see TLS protect government agencies from online viruses and hacking attempts. Included in the deal are the Australian Customs, Department of Finance and deregulation, the Attorney General's department and Border Protection Service with some others.<\/p>\n

\n\tCrown Limited ((CWN)) and Echo Entertainment Group Limited ((EGP)) came out of a trading halt today after yesterday's NSW Government approval for Crown to move forward to phase 3 of its new Sydney casino and hotel in Barangaroo. CWN shares faired well early on in trade rising as much as 6% only to close at a 3.19% rise, while EGP shares dropped 5.15% over the day.<\/p>\n

\n\tAUD is currently trading at $0.9141, down -$0.0001 against the USD.<\/p>\n

\n\tTop Performers<\/strong><\/p>\n

\n\tBillabong<\/span> International Limited ((BBG<\/span>)) up $0.035 or 15.56% to $0.26<\/p>\n

\n\tFleetwood Corporation Limited ((FWD)) up $0.044 or 10.92% to $4.47<\/p>\n

\n\tAusdrill Limited ((ASL)) up $0.07 or 8.48% to $0.895<\/p>\n

\n\tDiscovery Metals Limited ((DML)) up $0.01 or 7.69% to $0.14<\/p>\n

\n\tSMS Management & Technology Limited ((SMX<\/span>)) up $0.32 or 6.71% to $5.09<\/p>\n

\n\tBottom Performers<\/strong><\/p>\n

\tPerseus Mining Limited ((PRU)) down -$0.065 or -10.40% to $0.56<\/p>\n

\n\tSilver Lake Resources Limited ((SLR)) down -$0.045 or -6.29% to $0.67<\/p>\n

\n\tEcho Entertainment Group Limited (EGP) down -$0.15 or -5.15% to $2.76<\/p>\n

\n\tResolute Mining Limited ((RSG)) down -$0.03 or -4.80% to $0.595<\/p>\n

\n\tSt Barbara Limited ((SBM)) down -$0.025 or -4.72% to $0.505<\/p>\n

\n\tOur Comments<\/strong><\/p>\n

\n\tThe market was very encouraged by what happened in Europe over night and Mario Draghi's comments, although the daily volume was lower, probably as a result of U.S. markets being shut. It will be a big night in the U.S. tonight when we see the results of the Non-farm payrolls data and we will most likely see a large amount of volatility from investors.<\/p>\n

\n\tIt was nice to see the market close out such a roller coaster week around 31 points in the positive.<\/p>\n

\n\tHave a good weekend!<\/p>\n

\n\t
\n\t(For a more comprehensive summary of last night’s market action see FNArena’s<\/span><\/a> Overnight Report.)
\n\t <\/p>\n

\n\tRe-published with permission. Views expressed are not by association FNArena's<\/span> (see our disclaimer).<\/em><\/p>\n

\n\tStephen Hogan is an Authorised<\/span> Representative of Novus<\/span> Capital. Authorised<\/span> Representative No.345411 – http:\/\/www.stephenhogan.com.au<\/a><\/em><\/p>\n

\n\tNovus<\/span> Capital Limited ("Novus<\/span>") is holder of Australian Financial Services Licence<\/span> No 238 168. Novus<\/span>, its directors, officers, associates and employees each declare that they, from time to time, may hold interests in financial products and\/or earn brokerage, commission, fees or other benefits from financial products mentioned in this e-mail or attached documents. Unless specifically stated within this e-mail or an attached document, any information communicated by this e-mail constitutes unsolicited general financial product advice which has been compiled without regard to any investor's individual objectives, financial situation or needs. It is not specific advice for any particular investor. Before making any decision about the information provided, you need to consider the appropriateness of this information having regard to your individual objectives, financial situation and needs and consult your adviser. Any indicative information and assumptions used here are summarised<\/span> and also may change without notice to you, particularly if based on past performance or relate to a future matter.<\/em><\/p>\n

\n\tNovus<\/span> believes that any information or advice (including any financial product recommendation) contained in this document is accurate when issued but do not warrant its accuracy or reliability. Novus<\/span> is not obliged to provide you with updated information or advice if circumstances change. Novus<\/span>, its directors, officers, associates and employees exclude to the full extent permitted by law, all liability of any kind whether in negligence, contract, under a fiduciary duty or otherwise, for any loss or damage, whether direct, indirect, consequential or otherwise, whether foreseeable or not, arising from or in connection with this e-mail or an attached document.<\/em><\/p>\n

\n\tFind out why FNArena<\/span> subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wrap of the day’s activity on the Australian stock market.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62117"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=62117"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/62117\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=62117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=62117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=62117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}