Despite a thanksgiving holiday for the US, the Australian share market has followed other overseas leads and opened the session in positive territory. It’s now tracking 0.34 per cent higher at noon. Shares still however struggling for direction somewhat, but gains in BHP and Rio Tinto are currently propping the index up. Another shocking day on the market for Slater and Gordon after its shares more than halved their value yesterday, with investors still selling off following a number of downgrades by some of the major broking firms.
The S&P/ASX 200 index is 18 points higher at 5,228. On the futures market the SPI is up 10 points.
Company news Oncosil Medical Limited
(ASX:OSL) has advised it has received a refund from the Australian Tax Office of $1.5 million following the lodgement of its 2014/15 tax return. The medical device company is currently undergoing a CE mark review for its Oncosil radiation treatment for pancreatic cancer. Shares in Oncosil are trading down 2.86 per cent at 17 cents.
Transurban Group Limited
(ASX:TCL) has announced the successful completion of the institutional component of its $1.025 billion accelerated 1 for 18 renounceable entitlement offer. The institutional entitlement offer will raise gross proceeds of $738 million and will result in about 77 million new Transurban stapled securities. Shares in Transurban are trading 2.12 per cent higher at $10.50.
Best and worst performers
The best performing sector is Energy, gaining 0.9 per cent to 8,669. Shares in Drillsearch have risen 3.91 per cent and trading at 67 cents. Shares in Beach Energy and Woodside Petroleum are also stronger.
The worst performing sector is Utilities, falling 0.8 per cent to 6,927. Shares in Spark Infrastructure have fallen 5.99 per cent, trading at $1.92. Shares in Duet Group and APA Group are also lower.
Gold and the dollar
Gold is trading at $US1,074 an ounce.
The Australian dollar is buying 72.22 US cents.
