After Wall Street snapped its three-day rally, our local share market has done the same, opening in the red and tracking 0.38 per cent lower at noon. Energy stocks have been hit the hardest, but the materials space is also experiencing losses with BHP and Rio Tinto weighing heavily. The financials space has also taken a slide today, with NAB leading the losses.
The S&P/ASX 200 index is 19 points lower at 4,974. On the futures market the SPI is down 22 points.
Company news Fairfax Media Limited
(ASX:FXJ) has reported a 2.8 increase in Group Revenue to $958 million in its half year results. Domain’s 74 per cent increase in EBITDA contributed to an improved Group operating EBITDA of $161 million, up 2 per cent on last year. Net profit of $79.8 million was down 2.2 per cent, with earnings per share of 3.4 cents. Shares in Fairfax are trading down 3.31 per cent at $0.80.
Beadell Resources Limited
(ASX:BDR) has announced that the company has gone into a trading halt, pending the release of an announcement relating to a capital raising. The company’s shares will remain temporarily suspended until Tuesday the 23rd of February or when the announcement is released to the market. Shares in Beadell Resources last traded at $0.24.
Best and worst performers
The best performing sector is Healthcare, gaining 0.6 per cent to 19,276. Shares in Estia have risen 7.76 per cent and trading at $6.11. Shares in Mesoblast and Ansell are also stronger.
The worst performing sector is Energy, falling 3.2 per cent to 7,602. Shares in Whitehaven Coal have fallen 8.08 per cent, trading at $0.46. Shares in Santos and Origin Energy are also lower.
Gold and the dollar
Gold is trading at $US1,230 an ounce.
The Australian dollar is buying $US0.7144.
