Australian Stock Market Report – 26th April 2016 Tuesday

I’m Aaron Furst with the Australian stock market closing report for Tuesday, 26th April 2016

On the back of a stronger US dollar which resulted in a weaker Australian Resource sector, the ASX 200 marginally slipped into the red today

The index was lower by 15 points or 0.3% to 5220

The day’s trading range was 36 points with the high of the session at 5247 and the low of the session at 5211

The market breadth was negative with 117 stocks declining versus 70 stocks advancing and 13 stocks unchanged

The Materials sector was significantly weaker relative to the overall market closing down 2.1%
Fortescue Metals was down 6.25%, Saint Barbara lower by 6.1%, Northern Star Resources down 4%,

The Resource bellwethers BHP and Rio Tinto were also lower. Rio Tinto was off .56 or 3.1% to .44, BHP was down 60 cents or 2.95% to .76

Real Estate Investment Trusts defied today’s negative trend by closing higher by 1% with GPT Group leading the pack closing up 2.3% SCentre was higher by 1.8% and Cromwell Property was higher by 1.5%

The big four banks were mixed, with ANZ Bank closing down 10 cents to .25, Commonwealth Bank closed higher by 58 cents to .62, National Australia Bank was off 14 cents to .50 and Westpac was up 26 cents to .58

In company news,

On the back of a Moody’s ratings upgrade BlueScope steel plans to raise US0 million on the US debt market to take advantage of improved fund raising conditions

BlueScope said it would raise the debt in the US high yield bond market

The funds raised will be used to repay an existing bridge finance facility loan that is due to mature in December 2016

National Australia Bank released its Charitable Giving Index report today

The report noted that charitable giving grew by 6.5% in the year to February

National Australia Bank chief economist Alan Oster said in a statement quote “despite the challenges facing some states as the economy rebalances post the mining boom, it was particularly heartening to see the charitable giving grow in all states, led by South Australia and Victoria, and in all charity sectors”

Five most active stocks in today’s session work Qantas Airways down 4.75%, Fortescue Metals down 6.25%, South 32 down 3.6%, Telstra up 0.4% and Alumina up 2.5%

The five best performers were Pacific Brands higher by 4.05% REA Group up 3.8%, OZ Minerals up 3.45%, Liquefied Natural Gas up 3.45% and TPG Telecom higher by 2.7%

The five worst performers were Broadspectrum down 10.8% Program Maintenance down 6.3% Fortescue Metals down 6.25%, Saint Barbara down 6.1%, and Mesoblast down 5.2%

One Australian dollar is currently higher by 0.3% to 77.35 US cents

Spot Gold is lower on the session currently down 0.3% to 36 USD

And Crude oil is higher by 27 cents or 0.6% to .91 USD

You have been watching the Australian stock market closing report for Tuesday, 26 April 2016 and I have been your host Aaron Furst, I’ll see you again next time