Midday: Aus shares track 0.63% lower at noon

Market Reports

Following soft leads from Wall Street, the Australian share market opened in negative territory this morning and is tracking 0.63 per cent lower at noon. After a stellar five trading days in the black last week, it appears investors have decided to take back some of those profits. The financials and energy spaces are proving to be the biggest drag so far; with the big four banks currently in the red. 
 
The S&P/ASX 200 index is 33 points lower at 5,246. On the futures market the SPI is 42 points lower. 
 
Company news

Oncosil Medical Limited (ASX:OSL) says the fast-track face to face review phase has been completed relating to its CE mark application for its radiation treatment for cancer. The company says it was pleased with the review meeting and anticipates the notified body would make a decision in respect of the CE mark for Oncosil in November. Shares in Oncosil are trading down 6.06 per cent at 15 cents. 
 
Transurban Group (ASX:TCL) has announced its traffic and revenue data for the September quarter. For the quarter toll revenue increased by 17 per cent to $427 million compared to the prior corresponding period. Proportional toll revenue, which the company says is the most accurate reflection of performance, increased by 18.9 per cent to $446 million. Shares in Transurban are trading 0.3 per cent lower at $9.83. 
  
Best and worst performers

The best of a bad bunch is Materials, losing 0.14 per cent to 8,481. Shares in Independence Group have risen 11.31 per cent and trading at $3.64. Shares in Evolution Mining and Fortescue are also stronger. 
 
The worst performing sector is Energy, falling 1.9 per cent to 9,285. Shares in Origin Energy have fallen 3.92 per cent, trading at $6.25. Shares in Santos and Oil Search are also lower. 
 
Gold and the dollar

Gold is trading at $US1,157 an ounce.
The Australian dollar is buying 73.23 US cents.

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