Positive leads pushed the Australian share market up at open but the benchmark index is only slightly higher before noon. While most sectors are making gains the health and financial sectors are dragging on the broader bourse.
Across the stocks OrotonGroup Limited
(ASX:ORL) has sunk after the fashion brands retailer warned its second half earnings look likely to fall. Shares in Cardno Limited
(ASX:CDD) are clawing back some of this week’s steep losses after issuing a profit warning on Wednesday.
Figures
The S&P/ASX 200 index is trading 5 points higher at 5,667. On the futures market the SPI is 11 points higher.
Company news InvoCare Limited
(ASX:IVC) has seen a positive start to the calendar year and has also flagged future acquisitions. The funeral services provider reports group sales revenue has grown 7.6 per cent in the four months to April. Speaking at the company’s annual general meeting Chairman Richard Fisher also told shareholders InvoCare continues to consider small acquisition opportunities in existing markets. Shares in InvoCare have firmed 0.08 per cent and are trading at $13.19.
Shares in Animoca Brands Corporation Limited
(ASX:AB1) have spiked after inking a deal with Mattel, Inc (NASDAQ:MAT). Under the agreement the pure play mobile game developer will create mobile games based on Mattel’s portfolio of brands. Animoca and Mattel plan to jointly invest in the development of mobile and tablet games for worldwide distribution. Shares in Animoca Brands Corporation have spiked 23.53 per cent and are trading at $0.21.
Best and worst performers
Most sectors are trading higher: The best performing sector is energy, gaining 1.3 per cent to 11,534. Shares in Senex Energy Limited
(ASX:SXY) have risen 4.29 per cent and trading at $0.36. Shares in Santos Limited
(ASX:STO) and Woodside Petroleum Limited
(ASX:WPL) are also stronger.
The worst performing sector is health care, falling 0.5 per cent to 18,747. Shares in Cochlear Limited
(ASX:COH) have dropped 1.38 per cent, trading at $87.23. Shares in Sirtex Medical Limited
(ASX:SRX) and Regis Healthcare Limited
(ASX:REG) are also lower.
Gold and the dollar
Gold is buying $US1,207 an ounce.
The Australian dollar is buying $US0.7913.
