Midday: Aus shares lower & inflation growth slows

Market Reports

With weak leads from the US the Australian share market opened lower today before seeing some volatile swings, the ASX is 0.15 per cent down at noon.
 
Inflation growth was shown to have slowed to below 2 per cent in 2014, the market gained slightly after the announcement was made at 11:30am. 
 
Consumer staples showed weakness this morning with Woolworths and Wesfarmers both in the red. 
 
The S&P/ASX 200 index is 7 points down at 5,540. On the futures market the SPI is 2 points lower. 
 
Economic news

The ABS has shown a dip in inflation with the Consumer price index for the December quarter showing growth of only 1.7 per cent in prices 2014, the figure came in below expectations.  
 
Westpac Banking Corporation (ASX:WBC) and the Melbourne Institute have offered a weak outlook for growth in Australia with their leading Indexes of economic activity falling by 0.12 per cent in December to -0.61 per cent.
 
Company news
 
Macquarie Atlas Roads Limited (ASX:MQA) says motorway regulators in France have deferred toll increases that are contractually due at the start of February. The toll road operator says a working group is preparing to announce recommendations on the future of French motorway concessions. The company noted that any deferral of scheduled toll increases would represent a breach of agreements. Shares in Macquarie Atlas Roads are trading down 2.89 per cent at $3.02. 
 
Healthscope Limited (ASX:HSO) says it has reached financial closure with the NSW government regarding the Northern Beaches Hospital Project. The private healthcare provider announced the contract in December last year and says construction of the hospital will now commence in February with the doors to be open by the end of 2018. Shares in Healthscope are trading down 0.37 per cent at $2.72
 
Best and worst performers

The best performing sector is energy, gaining 0.7 per cent to 10,867. Shares in Karoon Gas Australia Limited (ASX:KAR) have risen 3.76 per cent and trading at $2.21. Shares in Santos Limited (ASX:STO) and Drillsearch Energy Limited (ASX:DLS) are also stronger. 
 
The worst performing sector is consumer staples, falling 0.7 per cent to 9,525. Shares in Treasury Wine Estates Limited (ASX:TWE) have fallen 3.17 per cent, trading at $4.88. Shares in Goodman Fielder Limited (ASX:GFF) and Woolworths Limited (ASX:WOW) are also lower.
 
Gold and the dollar

Gold is trading at $US1,294 an ounce.
The Australian dollar is buying $US0.7996

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