Following mixed leads, the Australian share market slipped at open and is 0.5 per cent down at noon.
The S&P/ASX 200 index is 21 points down at 4,116. On the futures market the SPI is 18 points lower.
Company news
Downer EDI Limited (ASX:DOW) has secured a $71.7 million electrical contract by BHP Billiton Limited (ASX:BHP). The engineering company will be responsible for both greenfields and brownfields transmission lines at BHP’s Jimblebar iron ore mine. Shares in Downer EDI are trading down 2.16 per cent at $3.17.
Paint manufacturer DuluxGroup Limited (ASX:DLX) has extended its offer period in its takeover bid for Alesco Corporation Limited (ASX:ALS). The offer will now close at 7pm on 20 July. Dulux launched a $188 million bid for all the shares that it does not already own in Alesco last month, offering $2.00 per share. Shares in DuluxGroup are trading down 1.63 per cent at $3.01.
Best and worst performers
The best performing sector is Health Care gaining 33 points to 9,207. Shares in Primary Health Care Limited (ASX:PRY) have risen 1.08 per cent and trading at $2.80. Shares in CSL Limited and Ramsay Health Care are also stronger.
The worst performing sector is Energy, falling 171 points to 12,587. Shares in Paladin Energy Limited (ASX:PDN) have fallen 2.52 per cent, trading at $1.26. Shares in Woodside Petroleum and Beach Energy are also lower.
Gold and the dollar
Gold is trading at $US1,628 an ounce and the Australian dollar is buying $US1.012.