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News: Market Wrap: Aus shares continue retreat

  1. The Australian share market pushed to a third day of losses taking the heat out of the strong run of gains of previous weeks. The local bourse closed more than 0.5 per cent down with health care being the worst performing sector.
    Biotech behemoth CSL led the losses as it announced a dip in full year profit guidance despite showing positive first half profit numbers. 
    Energy stocks also lost ground today as the oil price heads lower and resources stocks continued to grapple with forecasts suggesting the iron ore price will weaken further as low cost suppliers extend the glut of ore on the market.
    The S&P/ASX 200 index closed 32 points down to finish at 5,769.
    The value of trades was $5.19 billion on volume of 736 million shares at the close of trade. The top three stocks by value were CSL Limited (ASX:CSL), Commonwealth Bank of Australia (ASX:CBA) and BHP Billiton Limited (ASX:BHP).
    On the futures market the SPI is 36 points down.
    Company news
    Shares in Domino's Pizza Enterprises Limited (ASX:DMP) surged more than 20 per cent today as it announced a 44.2 per cent gain in net profit to $29.1 million in the first half of the 2015 financial year. Domino's says the year has started strongly and the company plans to open its 1,500th store later this year. Dominos closed 21.19 per cent up at $33.00 
    As Commonwealth Bank of Australia (ASX:CBA) shares come off recent highs it has sweetened its interim payout and shown its net profit grew in the first half of the 2015 financial year.  Australia’s biggest bank boosted its statutory net profit by 8 per cent to $4.53 billion while its cash net profit also grew 8 per cent to $4.62 billion, putting in on track for another record annual result.  Shares in CBA closed 0.79 per cent down at $91.86 
    Stockland Limited (ASX:SGP) has boosted its first half profit on the back of strength from its residential business.  
    Suncorp Group Limited (ASX:SUN) has improved its net profit by 15 per cent to $631 million in the first half of the 2015 financial year. 
    CSL Limited (ASX:CSL) has boosted its first half profit to $US692 million while cooling expectations on its full year guidance.
    Boral Limited (ASX:BLD) has reported a first half net profit with the turnaround coming on the back of its clay brick joint venture with CSR getting further approvals.
    Best and worst performers

    The best performing sector was utilities adding 2.3 per cent to close at 6,641. The worst performing sector was health care, losing 3.9 per cent to close at 17,751 points.
    The best performing stock in the S&P/ASX 200 was Domino's Pizza Enterprises Limited (ASX:DMP), rising 21.19 per cent to close at $33.00. Shares in Genworth Mortgage Insurance Australia (ASX:GMA) and Slater & Gordon Limited (ASX:SGH) also closed higher.
    The worst performing stock was Bradken Limited (ASX:BKN), dropping 12.65 per cent to close at $2.14. Shares in CSL Limited (ASX:CSL) and OZ Minerals Limited (ASX:OZL) also closed lower.

    Gold is trading at $US1,238 an ounce.
    Light crude is $2.84 down at $US50.02 a barrel.
    The Australian dollar is buying $US0.7771

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