Despite weak leads from Wall Street on Friday, the local share market commenced its first trading day of the week in positive territory but has since erased all its gains, tracking 0.5 per cent lower at noon. But the big news of the day is that vitamin company Blackmores has just hit $220 per share, which is the highest price the shares have ever traded. Not such a good day however for the rest of the bunch, with all sectors in negative territory so far.
The S&P/ASX 200 index is 27 points lower at 5,080. On the futures market the SPI is 20 points lower.
Company news Cardno Limited
(ASX:CDD) has announced the successful completion of the retail component of its 1 for 2.175 pro-rata non-renounceable entitlement offer. The retail component raised approximately $29 million. The institutional component of the offer was completed at the start of December and raised around $49 million. Shares in Cardno are trading flat at $1.35.
NewZulu Limited
(ASX:NWZ) has raised $3 million through a placement to accelerate its international growth strategy. The crowd-sourced media company says it will use the funds for the next stage of development in the US market and to continue to grow its Content and Technology businesses across its existing client base. Shares in NewZulu are trading 2.38 per cent lower at $0.04.
Best and worst performers
All sectors are in the red, but the best of a bad bunch is Consumer Discretionaries, losing 0.1 per cent to 1,916. Shares in APN Outdoor have risen 5.19 per cent and trading at $5.88. Shares in Ten Network and Crown Resorts are also stronger.
The worst performing sector is Healthcare, falling 1.2 per cent to 19,299. Shares in Sigma Pharmaceuticals have fallen 3.57 per cent, trading at $0.81 Shares in Resmed and Healthscope are also lower.
IPOs
Wonhe Multimedia Commerce Limited
(ASX:WMC) started trading today. The computer software and hardware company floated with an issue price of $0.20, opened at $0.20 and is currently trading at $0.22.
Gold and the dollar
Gold is trading at $US1,064 an ounce.
The Australian dollar is buying $US0.7163.
