The S&P/ASX 200 index closed 39 points up to finish at 5,518.

 

The value of trades was $4.25 billion on volume of 585 million shares at the close of trade.

The top three stocks by value were Commonwealth Bank of Australia (ASX:CBA), Westpac Banking Corporation (ASX:WBC) and BHP Billiton Limited (ASX:BHP).

 

On the futures market the SPI is 40 points up.
 

Economic news
 

Today’s CPI figures from the ABS showed inflation has grown slightly in the March quarter. The annual inflation rate of 2.9 per cent came in below expectations and was followed by a drop in the Aussie dollar. 

 

Company news

 

The CEO of JB Hi-Fi Limited (ASX:JBH) is set to retire. To be replaced by current CFO, Richard Murray. 

 

Troy Resources Limited (ASX:TRY) has secured funding of $100 million from Investec to develop its Karouni project. 

 

The oil and gas company Range Resources Limited (ASX:RRS, LON:RRL) has provided an output and financing update while also advising it has missed the deadline for selling its Texas assets.

 

Rare earths producer Lynas Corporation Limited (ASX:LYC) has won another battle in a Malaysian court concerning its operating licence.

 

Scooter manufacturer Vmoto Limited (ASX:VMT) has just inked a distribution deal with Euro Ebike Company to distribute, stock and market Vmoto and E-Max products in Vietnam. 

 

Newcrest Mining Limited (ASX:NCM) says it’s on track to deliver annual gold output around the top end of its guidance range as it gears up for a changing of the guard. 

 

To the best and worst performers 
 

All major sectors are trading higher. The best performing sector was financials, excluding real estate, adding 71 points to close at 7,324. The sector with the least gains was real estate investment trusts, gaining 3 points to close at 1,047 points.
 

The best performing stock in the S&P/ASX 200 was Horizon Oil Limited (ASX:HZN), rising 10.45 per cent to close at $0.37. Shares in Resolute Mining Limited (ASX:RSG) and EVOLUTION Mining Limited (ASX:EVN) also closed higher.

 

The worst performing stock was Atlas Iron Limited (ASX:AGO), dropping 3.05 per cent to close at $0.96. Shares in Wotif.com Holdings Limited (ASX:WTF) and Myer Holdings Limited (ASX:MYR) also closed lower. 

 

Commodities

Gold is buying $US1,285 an ounce. Light crude is $2.24 down at $US102.13 a barrel. The Australian dollar is buying $US0.92.84.