Following mixed leads, the Australian share market opened weaker and is 0.9 per cent down at noon. Despite positive US jobs data on Friday, weak trade balance numbers from China over the weekend have put local investors on the back foot on this Monday. Shares in BHP Billiton are particularly feeling that negative sentiment as details continue to emerge from a disaster at one of its iron ore mines in Brazil.
The S&P/ASX 200 index is 47 points down at 5,168. On the futures market the SPI is 61 points lower.
Company news
Recall Holdings Limited
(ASX:REC) is on track to deliver earnings and revenue growth. Recall Holdings CEO Doug Pertz told shareholders the data management company maintains its August guidance of full year revenue growth approaching double digits and underlying earnings growth at least in line with revenue growth, on a constant currency basis. Shares in Recall Holdings are trading up 0.27 per cent at $7.43.
Viralytics Limited
(ASX:VLA) has announced positive data from two clinical studies of its lead drug candidate CAVATAK. CAVATAK is an investigational novel cancer immunotherapy based on a proprietary bioselected common cold virus that has been shown to preferentially infect and attack cancer cells. Shares in Viralytics are trading up 2.94 per cent at $0.70.
Best and worst performers
The best performing sector is Health Care, gaining 0.4 per cent to 19,073. Shares in Ansell have risen 1.27 per cent and trading at $19.98. Shares in ResMed and Virtus Health are also stronger.
The worst performing sector is Materials, falling 2.5 per cent to 7,734. Shares in Regis Resources have fallen 8.52 per cent, trading at $1.82. Shares in Evolution Mining and Northern Star are also lower.
Gold and the dollar
Gold is trading at $US1,090 an ounce.
The Australian dollar is buying $US0.7040
