Following a flat close from Wall Street on Friday, the Australian share market opened slightly lower and managed to gain some short lived momentum, but has since dipped into the red and is tracking 0.36 per cent lower at noon. The energy space is doing the bulk of the heavy lifting so far with some modest gains in Santos. The financials space is painting a bit of a mixed picture however with gains in CBA and Westpac and losses in the others.
The S&P/ASX 200 index is 19 points lower at 5,273. On the futures market the SPI is up 10 points.
Company news Yowie Group Limited
(ASX:YOW) says the Yowie chocolate candy is now available to 20,000 new convenience, military and travel outlets in the US market. The candy will be included in the McLane Virtual Trade Show, a leading edge technology solution that helps grocery customers and suppliers buy better. Shares in Yowie are trading up 0.49 per cent at $1.03.
Coca Cola Amatil Limited
(ASX:CCL) says the NSW government has indicated its preference to introduce a traditional 10 cent refund container deposit scheme. Once details have been finalised the proposed draft legislation will be released publically ahead of its introduction into New South Wales Parliament in August 2016. Coca-Cola is working through the potential implications and says it will update the market once they are known. Shares in Coca Cola are trading down 0.23 per cent at $8.62.
Best and worst performers
The best performing sector is Energy, gaining 0.45 per cent to 7,964. Shares in Whitehaven Coal have risen 6.82 per cent and trading at $0.70. Shares in Origin and Santos are also stronger.
The worst performing sector is Materials, falling 0.73 per cent to 7,892. Shares in Orica have fallen 11.28 per cent, trading at $13.69. Shares in Incitec Pivot and BlueScope are also lower.
Gold and the dollar
Gold is trading at $US1,287 an ounce.
The Australian dollar is buying $US0.7380.
