The Australian share market has slipped into the red following mixed leads and ahead of the US Federal Reserve’s announcement tomorrow. The benchmark has pushed 0.4 per cent lower with the gold sub-index, utilities and energy stocks extending declines.
Health care is trading higher following a lift in Sirtex Medical Limited
(ASX:SRX) after sinking more than 50 per cent yesterday. The mining sector is also stronger despite Fortescue Metals Group Limited
(ASX:FMG) shares retreating after withdrawing a senior secured note offering.
Figures
The S&P/ASX 200 index has lost 20 points and is trading at 5,822. On the futures market the SPI is 15 points lower.
Company news
Shares in Vmoto Limited
(ASX:VMT) have risen after scoring the green light for its electric three and four wheel joint venture which has now become operational. The scooter manufacturing and distribution company says the JV has received all government regulatory and operating approvals and has been incorporated. Managing Director Charles Chen believes the JV represents a growth milestone for the company and says it has made substantial progress in a short space of time. Shares in Vmoto have risen 6.25 per cent to $0.03 at noon.
Shares in Capital Mining Limited
(ASX:CMY) have jumped as it continues to invest in the medical cannabis and hemp based products sector. Capital Mining has inked a deal to buy 100 per cent of Nutrawerx Inc., a US based group focused on the development and production of hemp related products and cannabinoid science.The acquisition comes one week after Capital Mining purchased almost 50 per cent of a Canadian licensed medical marijuana company called Broken Coast Cannabis. Shares in Capital Mining have jumped 25 per cent to $0.005 at noon.
Best and worst performers
The best performing sector is health care, gaining 0.3 per cent to 19,148. Shares in Sirtex Medical Limited
(ASX:SRX) have risen 12.32 per cent and trading at $19.69. Shares in ResMed Inc.
(ASX:RMD) and Cochlear Limited
(ASX:COH) are also stronger.
The worst performing sector is utilities, falling 1.3 per cent to 6,406. Shares in APA Group
(ASX:APA) have fallen 2.37 per cent, trading at $8.65. Shares in AusNet Services
(ASX:AST) and AGL Energy Limited
(ASX:AGL) are also lower.
Gold and the dollar
Gold is buying $US1,151 an ounce.
The Australian dollar is buying $US0.7617.
