The Markets Today

By Glenn Dyer | More Articles by Glenn Dyer

The share market remained stable today, with the benchmark ASX/S&P 200 Index finishing 4.6 points higher at 5355.70, while the All Ordinaries added 8.5 points to 5409.70.

On the Sydney Futures Exchange, the June share price index contract was down 28 points at 5401, on a volume of 20846 contracts.

The Reserve Bank website said the Australian dollar was buying 91.80 US cents.

In New York, gold futures for April last traded at US$932.60 per ounce.

The gold miners were lower, with Newcrest down 74 cents to $33.37, Lihir Gold lost 13 cents to $3.59 and Newmont lost 3 cents to $5.07.

The big miners were also down, with BHP Billiton slipping 24 cents to $35.81 and Rio Tinto sliding 40 cents to $122.50.

Australia’s four big banks were down, with the Commonwealth Bank falling 90 cents to $41.81, ANZ falling 63 cents to $22.55, Westpac losing 15 cents to $23.75 whilst National Australia Bank finished 19 cents up at $30.15

The nation’s largest retailer, Woolworths lost 30 cents to $29.00

Its rival retailer, Wesfarmers was up 98 cents to $39.99.

Other retailers were stronger, David Jones up 6 cents at $3.64 and Harvey Norman also up 11 cents at $3.91.

New Zealand’s benchmark NZX-50 index rose 0.67%, or 22.93 points, to 3,470.42.

Just Group rose 44 cents or 12% to $3.96 after Premier Investments made a $898 million takeover offer for the retailer. Shares in PMV remained unchanged at $7.90.

Shares in Midwest added 6 cents or 1% to $6.06 after its hostile bidder Sinosteel urged shareholders to accept the offer.

About Glenn Dyer

Glenn Dyer has been a finance journalist and TV producer for more than 40 years. He has worked at Maxwell Newton Publications, Queensland Newspapers, AAP, The Australian Financial Review, The Nine Network and Crikey.

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