It has been a sombre start to the trading week for the local share market diving below the 5000 point level as Friday’s terror attacks in Paris crush investor sentiment. Most sectors plunged into negative territory at the open and the market continues to track 0.79 per cent lower at noon. The exception today is gold stocks, which seem to be enjoying a small rally due to their “safe haven” status.
The S&P/ASX 200 index is 39 points lower at 5,012. On the futures market the SPI is down 25 points.
Company news Mesoblast Limited
(ASX:MSB) has announced that it has listed on the Nasdaq. The regenerative medicine company says it expects to receive gross proceeds of $95.8 million from the listing. Mesoblast intends to use the net proceeds for ongoing clinical programs and general and administrative purposes. Shares in Mesoblast have lost 35.48 per cent and are trading at $2.20.
Lucapa Diamond Company Limited
(ASX:LOM) has announced the sale of a seventh parcel of diamonds from the Lulo Diamond Project in Angola. The parcel of 1,339 carats of Lulo alluvial diamonds generated gross revenues of $2.1 million. Shares in Lucapa are trading down 7.58 per cent at 30 cents.
Best and worst performers
The best performing sector is Telcos, gaining 0.2 per cent to 1,866. Shares in Spark NZ have risen 1.02 per cent and trading at $2.98. Shares in Telstra are stronger and M2 Communications are lower.
The worst performing sector is Industrials, falling 1.4 per cent to 4,730. Shares in Mineral Resources have fallen 6.16 per cent, trading at $3.96. Shares in Qantas and Downer EDI are also lower.
Gold and the dollar
Gold is trading at $US1,090 an ounce.
The Australian dollar is buying 71.08 US cents.
