Australian Stock Market Report –Afternoon June 30, 2014

EVENING REPORT
(5pm AEST)

The Australian share market ended the last trading day of the 2013/14 Financial Year in the red, however it has still been a solid 12 months for investors.

Today, every sector closed lower, with the All Ordinaries Index (XAO) down 47.1 points or 0.9 per cent to 5382.

However over the course of 2013/14 the All Ords rose 12.7 per cent while the ASX 200 gained 12.3 per cent.

Including dividends, the All Ords Accumulation Index (XAOAI) rose just shy of 18 per cent. Following on from 2012/13's returns of 20.7 per cent that marks the best back to back returns for investors in seven years.

Northern Star Resources (NST) was the best performing stock over the last 12 months, rising 116.2 per cent - while Paladin Energy (PDN) was the worst, falling 65.7 per cent.

In company news today, Dick Smith Holdings (DSH) rose 1.6 per cent to $1.96 after the electronics retailer built its own guidance with a 15 per cent rise in June quarter sales to $1.226 billion.

Meanwhile Westfield announced that its $70 billion restructure is now complete. Shares in the newly formed Westfield Corporation (WFD) fell 0.3 per cent to $7.15 while Scentre Group (SCG) closed lower by 1.5 per cent to $3.20.

Goodman Fielder (GFF) shares were halted at 68c as shareholders await to see if Singapore's Wilmar International's $1.4 billion bid with Hong Kong listed investment firm First Pacific goes ahead.

New home sales fell from four year highs, down by 4.3 per cent in May, marking the first decline in 2014.

Private sector credit (lending) rose by 0.4 per cent in May after a similar lift in April. Annual credit growth rose from 4.6 to 4.7 per cent - the strongest growth in five years.

A total of 2 billion shares worth $4.5 billion traded today.

Ahead tonight, pending home sales, construction spending and the ISM manufacturing index are released in the US.