Midday: Aus shares lower at noon

Market Reports

Following negative off shore leads the Australian share market is also lower at noon. Oil and iron ore prices were again lower overnight but a jump in the gold price is seeing the gold miners make strong gains today. 
 
The S&P/ASX 200 index is 17 points lower at 5,133. On the futures market the SPI is 25 points lower. 
 
Company news
 
Tabcorp Limited (ASX:TAH) and the Victoria Racing Club have announced a new eight year sponsorship agreement. The deal will see Tabcorp stay on as the official wagering partner of the VRC and the Melbourne Cup and includes naming rights to and spsonsorship of the Group 1 Australian Cup. Shares in Tabcorp are down 0.49% per cent at $4.07. 
 
Avita Medical Limited (ASX:AVH) says it has signed a deal with China’s leading healthcare group. Sinopharm will become the sole distributor of Avitas range of new treatments for wounds and skin defects. The company says there are 3.4 million burns patients and 1.4 million (VIT-TILL-EGO) Vitiligo sufferers whose needs are currently unmet. Shares in Avita are trading 6.06 % higher at 10c
 
Best and worst performers
 
The best performing sector is Staple gaining 0.4 per cent to 8569. Shares in Blackmores have risen 4.18 per cent and trading at $166.42. Shares in Metcash and Costa Group Holdings are also stronger. 
 
The worst performing sector is Energy, falling 1.4 per cent to 7768. Shares in Worley Parsons have fallen 5.44 per cent, trading at $5.21. Shares in AWE and Karoon Gas are also lower. 
 
Gold and the dollar 
 
Gold is trading at $US1,270 an ounce.
The Australian dollar is buying $US0.7450.

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