As the stalemate continues between Greece and its creditors the US market headed lower and the local bourse followed, tumbling more than 1.6 per cent this morning.
Prices for both iron ore and oil fell overnight and BHP suffered, giving up more than 3 per cent.
Woolworths was the outlier today, it showed gains above 5 per cent to claw back some ground after a recent run of losses.
The S&P/ASX 200 index is 87 points down at 5,546. On the futures market the SPI is 77 points lower.
Company news
Insurance Australia Group Limited
(ASX:IAG) has appointed Elizabeth Bryan as Deputy Chairman to support recent strategic initiatives. The underwriting company says the integration of the Wesfarmers insurance arm as well as the new relationship with Berkshire Hathaway will be supported by Ms Bryan’s appointment. Ms Bryan joined the IAG board in 2014, she is also Chairman at the Virgin Australia Group and has been Chairman of Caltex Australia for the past six years. Shares in IAG are trading down 1.05 per cent at $5.66
Shares in DGR Global Limited
(ASX:DGR) are up 18 per cent on its announcement of a maiden special dividend of 0.25 cents per share. The minerals explorer says the dividend will be fully franked and represent a yield per share of around 7 per cent. The ex dividend date will be the 8th July with payment on the 31st of July. Shares in DGR are trading up 18.18 per cent at $0.039
Best and worst performers The best performing sector is consumer staples, gaining 1.5 per cent to 8,587. Shares in Woolworths Limited
(ASX:WOW) streaked ahead 5.04 per cent and trading at $27.71. Shares in Wesfarmers Limited
(ASX:WES) and Tassal Group Limited
(ASX:TGR) are lower.
The worst performing sector is utilities, falling 3.6 per cent to 6,537. Shares in APA Group
(ASX:APA) have fallen 5.29 per cent, trading at $8.42. Shares in DUET Group
(ASX:DUE) and Spark Infrastructure Group
(ASX:SKI) are also lower.
Gold and the dollar
Gold is trading at $US1,175 an ounce.
The Australian dollar is buying $US0.7713
