Today, the Australian share market is following weak leads from Wall Street. Although Australian stocks opened positively, they have plunged into the red after 10 minutes of trading, and are now tracking 0.12 per cent lower at noon. The financials space (excluding REITs) is leading the charge.
The S&P/ASX 200 index is 7 points lower at 5,312. On the futures market the SPI is down 17 points.
Company news Australian Pacific Coal Limited
(ASX:AQC) has announced that a recent independent assessment has confirmed a 1.2 billion tonne Coal Resource Estimate (CRE) at its Dartbook Project in the Hunter Valley, NSW. The company also says that it will acquire its joint venture partners’ ownership interests in order to attain full ownership of the Project.
Shares in Australian Pacific Coal are trading flat at $0.02.
DTI Group
(ASX:DTI) has announced that it will supply its advanced CCTV surveillance systems for trains in the US city of Philadelphia. The order involves the supply of surveillance systems for 231 trains, valued at around $799,000, and completion is expected before 30 June 2016.
Shares in DTI are trading flat at $0.35.
Best and worst performers
The best performing sector is Financials (excluding REITs), up 0.2% to 6,660 points. Shares in Flexi Group have risen 2.26 per cent and are trading at $2.26. Shares in Macquarie Bank and Bendigo Bank are also stronger.
The worst performing sector is Telcos, falling 0.6 per cent to 2,078. Shares in Spark New Zealand have fallen 2.02 per cent, trading at $3.40. Shares in Telstra and Vocus Communications are also lower.
Gold and the dollar
Gold is trading at $US1,249 an ounce.
The Australian dollar is buying $US0.7218.
