Despite positive leads from Wall Street it has been a lack-lustre session for the local share market, opening in negative territory and continue to track sideways at noon, currently down about 0.1 per cent. The energy space has been hit the hardest today after another slump in the price of oil overnight, with Santos and Woodside losing 4 and 5 per cent respectively. The financials space is doing the bulk of the heavy lifting, with all of the big four banks making some modest gains.
The S&P/ASX 200 index is 7 points down at 4,903. On the futures market the SPI is down 11 points.
Dexus Property Group (ASX:DXS)
has reported a 25.3 per cent jump in Funds from Operations to $323.9 million for the half year to 31 December 2015. Statutory net profit was up a whopping 209.3 per cent to $797.5 million, driven primarily by revaluations of $533.7 million for the six month period. NTA per security came in at $7.25, up 57 cents from the previous half. Shares in Dexus are trading 0.79 per cent lower at $7.49.
Primary Health Care Limited (ASX:PRY)
has reported a 28.5 per cent increase in net profit to $68.6 million for the half year to 31 December 2015. Revenue was up 4.6 per cent to $835 million. The company will pay an interim dividend of 5.6 cents per share, 50 per cent franked. Shares in Primary Health Care are trading 18.18 per cent higher at $2.60.
Best and worst performers
The best performing sector is Staples, gaining 0.74 per cent to 8,697. Shares in Blackmores have risen 10.7 per cent and trading at $182.90. Shares in Select Harvests and Coca-Cola are also stronger.
The worst performing sector is Energy, falling 3.4 per cent to 7,520. Shares in LNG have fallen 6.56 per cent, trading at $0.57. Shares in Woodside and Karoon Gas are also lower.
Gold and the dollar
Gold is trading at $US1,198 an ounce.
The Australian dollar is buying $US0.7107.