Following dismal leads from Wall Street, the Australian share market took a nose dive at the open, and is continuing to slide into negative territory, tracking 1.7 per cent lower at noon. All sectors are currently in the red, but the financials space is proving to be the biggest drag on the market with losses in all of the big four banks. It has been a horror day so far for the big miners as well, with BHP shedding more than 4 per cent.
The S&P/ASX 200 index is 86 points lower at 4,908. On the futures market the SPI is down 82 points.
Company news
Oncosil Medical Limited
(ASX:OSL) has announced a $10 million institutional placement to drive commercialisation of the company’s Oncosil localised radiation treatment for cancer. The placement was for more than 45 million shares at an issue price of 22 cents each to raise approximately $10 million. The company views the placement as strong validation for the Oncosil brachytherapy technology and its global commercialisation potential. Shares in Oncosil are trading up 8.89 per cent at $0.24.
Admedus Limited
(ASX:AHZ) has announced it has achieved first sales of CardioCel in the Middle East and North African region. The initial sales of CardioCel have come through an early access program in Qatar. CardioCel is used in the repair and reconstruction of cardiovascular defects, including reconstructing heart valves. Shares in Admedus are flat at $0.62.
Best and worst performers
The sector with the least losses is Healthcare, losing 0.1 per cent to 19,708. Shares in Regis Healthcare have risen 1.35 per cent and trading at $6.01. Shares in Resmed and Fisher Paykel Health are also stronger.
The worst performing sector is Energy, falling 3.6 per cent to 7,044. Shares in Liquefied Natural Gas have fallen 7.75 per cent, trading at $0.59. Shares in Santos and AWE are also lower.
Gold and the dollar
Gold is trading at $US1,127 an ounce.
The Australian dollar is buying $US0.7032.
