Following a weak lead from Wall Street, the Australian share market is struggling for direction today and is tracking 0.1 per cent lower at noon. The big miners are doing the bulk of the heavy lifting, that’s despite investors not knowing how the Samarco mine collapse in Brazil will affect BHP’s bottom line; it’s shares are tracking higher. The financials space is also propping up the index with gains in the big four banks.
The S&P/ASX 200 index is 8 points lower at 5,235. On the futures market the SPI is down 13 points.
Company news
Kathmandu Holdings Limited
(ASX:KMD) has announced unaudited sales for the period of 1 August to 15 November of $91.3 million, 8.6 per cent above the previous corresponding period last year. Same store sales grew by 4.8 per cent for the 15 weeks to 15 November, with the company saying sales in Australia were the strongest. Shares in Kathmandu are trading 4.25 per cent higher at $1.53.
Primary Health Care Limited
(ASX:PRY) has announced it expects underlying EBITDA and underlying NPAT for FY2016 to be about 5 per cent below the previous year’s results. The company has attributed the revised figures to flat revenue growth due to the freeze on the indexation of Medicare Rebates and starting the year with lower than expected healthcare practitioner numbers. Shares in Primary Health are trading down 12.22 per cent to $3.16.
Best and worst performers
The best performing sector is Materials, gaining 0.2 per cent to 7,485. Shares in Evolution Mining have risen 2.56 per cent and trading at $1.30. Shares in Nufarm and Iluka Resources are also stronger.
The worst performing sector is Energy, falling 1 per cent to 8,634. Shares in Drillsearch have fallen 6.74 per cent, trading at 66 cents. Shares in Beach Energy and Liquefied Natural Gas are also lower.
Gold and the dollar
Gold is trading at $US1,082 an ounce.
The Australian dollar is buying 71.90 US cents.
