A wave of selling on commodities markets has seen the US and Europe finish lower and the local bourse did slip on open but this turned to optimism and by midday we’re up almost 0.2 per cent.
The oil price fell further overnight as did the iron price and it was the major drag on the local bourse. While the banks managed to stay in positive territory this morning.
The S&P/ASX 200 indexis 9 points down at 5,581. On the futures market the SPI is 11 points lower.
Company news
Cimic Group Limited
(ASX:CIM) has appointed Angel Muriel as Chief Financial Officer, replacing Javier Loizago. The building and engineering company says Mr Muriel is currently CIMIC’s Chief Development Officer and the Managing Director of Pacific Partnerships. Shares in CIMIC are trading down 2.36 per cent at $23.20
Shares in Digital CC Limited
(ASX:DCC) have jumped this morning as its quarterly report shows progress in its AirPocket project. The Bitcoin miner and software developer says digitalBTC has pushed forward with testing of AirPocket as well as discussions on forming a JV for distribution across Latin America and the Carribean. And the company says its flagship Bitcoin product digitalX Direct recorded record sales revenues of $5.5 million (unaudited). Shares in Digital CC are trading up10.71 per cent at $0.15
Best and worst performers The best performing sector is telco services, gaining 0.4 per cent to 2,255. Shares in Telstra Corporation Limited
(ASX:TLS) have risen 0.55 per cent and trading at $6.38. Shares in Vocus Communications Limited
(ASX:VOC) are higher while Spark New Zealand Limited
(ASX:SPK) is flat.
The worst performing sector is materials, falling 0.9 per cent to 8,363. Shares in Evolution Mining
(ASX:EVN) have fallen 8.33 per cent, trading at $0.99. Shares in Newcrest Mining Limited
(ASX:NCM) and Northern Star Resources Limited
(ASX:NST) are also lower.
Gold and the dollar
Gold is trading at $US1,085 an ounce.
The Australian dollar is buying $US0.7316
