Following mixed leads from international bourses, the Australian share market slid lower on open and is 1.2 per cent down at noon. Weakness in the miners has prevailed over gains in most of the big banks in the morning session, as NAB trades ex-dividend.
Meanwhile the Aussie Dollar slipped on comments by RBA chief Glenn Stevens who emphasised that policy makers are in no rush to slash interest rates, but that any change would likely be a cut.
The S&P/ASX 200 index is 68 points down at 5,175. On the futures market the SPI is 57 points lower.
Company news
Ramsay Health Care Limited
(ASX:RHC) has confirmed it is in discussions regarding the potential establishment of a number of high quality international hospitals in China’s Pearl River Delta in collaboration with Chinese state-owned medical institutions. Ramsay also noted these discussions are incomplete and there can be no certainty that a transaction will result from these discussions. Shares in Ramsay Health Care are trading up 0.13 per cent at $61.88.
Credit Corp Group Limited
(ASX:CCP) has upgraded its full year guidance following strong performance over the first four months of FY16. Net profit is now forecast to reach between $42 million and $44 million from a previous margin of $40 million to $42 million. Shares in Credit Corp Group are trading up 13.99 per cent at $9.86.
Best and worst performers
All sectors are down. The sector with the least losses is Health Care, losing 0.3 per cent to 18,707. Shares in Healthscope have risen 0.56 per cent and trading at $2.71. Shares in Sonic Health and ResMed are also stronger.
The worst performing sector is Financials Excluding REITS, falling 1.65 per cent to 6,769. Shares in NAB have fallen 4.35 per cent, trading at $28.61. Shares in Lendlease and Gateway Lifestyle are also lower.
Gold and the dollar
Gold is trading at $US1,109 an ounce.
The Australian dollar is buying $US0.7141
