On average volume the S&P/ASX200 index closed 15.8 points, or 0.3%, higher at 5,346.1 today. The broader All Ordinaries index was up 16.9 points, or 0.32%, at 5,352.8.
The gold sector has completely fallen out of bed and was off another -3.2%. There was also a little bit of weakness in the Energy -0.1% and Utilities -0.2% sectors on Iran potentially returning to the production game and putting pressure on the oil price going forward.
Green across the screens elsewhere with Health +1.2%, Industrials +0.7%, Telcos +0.4%, Materials 0.3% and Financials 0.3% all posting gains. Sonic Healthcare (SHL) was a standout in the health sector, gaining eight cents, or 1.7%, to $4.88.
The RBA jawboning is bearing some fruit – over the weekend the AUD dropped below 92 cents to its weakest levels since September 6. The local unit was softer again today fetching 91.43 US cents in late trade.
Oil was trading weaker on the Iran news at $93.40. Gold is friendless at $1,232. Bloomberg reports that net holdings in gold futures and options tumbled 20 percent to 44,291 contracts in the week ended November 19, the lowest since July 9.
ALS (ALQ) produced a well-flagged weak half yearly result today. The shares ended at $8.92 down 2.19% after the company reported a 28% fall in net profit to $98 million, for the six months to the end of September 2013. Unlike the recent WorleyParsons debacle management did not give any clarity on what might be around the corner for mining services.
The battle for control of Warrnambool Cheese & Butter Factory (WCB) rolls on. The Canadians have sweetened the offer to $9.20 per WCB share if they attain a stake in Warrnambool of more than 50 per cent. WCB closed at $9.23 or 1.99%. Bega (BGA) closed down -0.85% at $4.67.
Commonwealth Property Office Fund (CPA) was unchanged at $1.265 after the board terminated their takeover agreement with Dexus (DXS) and their Canadian partner. With GPT’s bid on the table Dexus is “of the view that, in the context of two proposals, each of which have a significant scrip component, it is too early to respond."
ASX 200 Gainers and Losers
An all time high for fund manager Challenger up +5.17% to close at $6.31 on the day. 2013 has proved a good year for the fundies with Platinum +67%, Perpetual +30%, Magellan +88% and Challenger themselves up +78% in the year to date.
Top 5 Gainers;
• CGF CHALLENGER LIMITED +5.17%
• CDU CUDECO LIMITED +5.04%
• MML MEDUSA MINING LIMITED +5.03%
• TSE TRANSFIELD SERVICES LIMITED +4.92%
• AAD ARDENT LEISURE GROUP +3.59%
The entire gold stable was under pressure again with Silver Lake the worst off down -8.93% to 51 cents. Goodman Fielder lost another -7.09% to go with the -4.08% on Friday as investors continued to digest last week’s defacto profit warning.
Top 5 Losers;
• SLR SILVER LAKE RESOURCES LIMITED -8.93%
• BDR BEADELL RESOURCES LIMITED -8.43%
• GFF GOODMAN FIELDER LIMITED. -7.09%
• RSG RESOLUTE MINING LIMITED -6.86%
• EVN EVOLUTION MINING LIMITED -5.47%
