The Australian market halted – but only just — its six session losing streak today with energy and miners recovering some ground lost to falling prices.
In energy, Woodside Petroleum was up more than 3% to $35.50 and Santos up 4.6% to $7.58
Among the miners, BHP was slightly firmer at $35.50, while Rio Tinto was up almost 1.4% to $53.380. BC Iron was up 17.6% to $0.420.
The banks were generally weaker with Westpac down 0.76% to $31.33. Commonwealth, however, was steady at $81.02.
Wall Street was weaker overnight with the S&P 500 down 0.85%.
First, the scoreboard:
- S&P ASX 200: 5,161.90 +9.56 (+0.19%)
- All Ordinaries: 5,140.60 +9.57 (+0.19%)
- AUD/USD: 0.8145 -0.0075 (-0.91%)
And the top stories on Wednesday:
1. Vocus and Amcom will become third largest telecommunicatons company after the two small players agreed to become one in a $650 million deal.
2. Village Roadshow, in a move to bolster its suite of content available to license to online digital platforms, is buying a one-third interest in US distribution and production company FilmNation Entertainment for $US18 million (AU$22 million). Village shares are steady at $6.
3. Leighton shares went into a trading halt today after speculation the big contracting group is about to sell its services division.