Following a flat lead from Wall Street, the Australian share market opened a slightly higher before falling back and is 0.36 per cent lower at noon. Weakness in materials and financials and holding the market back.
The S&P/ASX 200 index is 19 points down at 5,340. On the futures market the SPI is 35 points lower..
Company News
Blackham Resources Limited
(ASX:BLK) has announced it has entered into an agreement with Intermin Resources to purchase their calcine tailings stockpile located next to the Wiluna Plant. The purchase allows Blackham greater flexibility over the placement of tailings within the direct vicinity of the plant. Shares in Blackham Resources is trading down 4.08 per cent at $0.47.
Blue Sky Alternatvie Investments
(ASX:BLA) has completed a placement and accelerated entitlements offer raising just over $45M.The capital raising was undertaken to support expected ongoing growth in assets under management, including newly announced joint ventures.
Shares in Blue Sky Alternatvie Investments are trading down 0.98 per cent at $7.03.
Best and worst performers
The best performing sector is Utilities, gaining 1.33 per cent to 7,329. Shares in Aus Net Services have risen 2.93 per cent and trading at $1.67. Shares in APA Group and AGL Energy are also stronger.
The worst performing sector is Consumer Staples, falling 1.05 per cent to 8,729. Shares in Woolworths have fallen 2.86 per cent, trading at $22.39. Shares in Coca Cola Amatil and Select Harvests are also lower.
Gold and the dollar
Gold is trading at $US1,267 an ounce.
The Australian dollar is buying $US0.7292
