Following mixed leads from overseas, the Australian share market opened in positive territory, but has since lost all momentum in the first two hours of trade and is now tracking 0.1 per cent lower at noon. The materials and energy sectors are so far proving to the biggest drag on the market.
The S&P/ASX 200 index is 5 points lower at 5,343. On the futures market the SPI is down 3 points.
Company news National Australia Bank
(ASX:NAB) has gone into a trading halt after the market opened this morning. The bank says the company’s shares will remain in a trading halt until it releases an announcement in relation to a ‘material transaction’. Shares in NAB last traded at $32.42.
Regeneus Limited
(ASX:RGS) has announced that the first patient has been enrolled and safely treated in the first clinical trial of RGSH4K, the company’s tumour vaccine product, for the treatment of solid tumours. The vaccine is produced from the patient’s own cancer cells and an immunostimulant that is designed to activate the immune system against the cancer cells. Shares in Regeneus are trading up 8.7 per cent to 13 cents.
Best and worst performers
The best performing sector is Healthcare, gaining 0.8 per cent to 18,310. Shares in CSL have risen 1.27 per cent and trading at $92.02. Shares in Sonic Healthcare and Healthscope are also stronger.
The worst performing sector is Energy, falling 1.83 per cent to 8,951. Shares in AWE have fallen 4.76 per cent, trading at 70 cents. Shares in Liquefied Natural Gas and Worley Parsons are also lower.
IPOs Farmaforce Limited
(ASX:FFC) started trading today. The pharmaceutical contract sales company floated with an issue price of 30 cents, opened at 35 cents and is currently trading at 32.5 cents.
Gold and the dollar
Gold is trading at $US1,164 an ounce.
The Australian dollar is buying 72.50 US cents.
