The local share market has managed to make its way back into the black this session after three days in negative territory, but it’s not the impressive recovery investors had hoped for. The market opened higher and managed to peak around 0.7 per cent, but it has fallen away slightly at noon and is now tracking 0.58% higher. The healthcare space is once again leading the charge, with stocks like CSL, Resmed and Ramsay tracking higher. We’ve also seen the energy space bounce back today, with Santos making some solid gains of around 3 per cent.
The S&P/ASX 200 index is 31 points up at 5,310. On the futures market the SPI is up 36 points.
Company news Mesoblast Limited
(ASX:MSB) have had their shares immediately suspended from quotation pending the release of a material announcement by the company. Mesoblast says the announcement relates to material corporate developments with respect to certain assets of the company. The suspension will remain in place until the earlier of the 10th of June or when the announcement is made to the market. Shares in Mesoblast last traded at $1.92.
Countplus Limited
(ASX:CUP) has executed an unconditional agreement to sell a Brisbane based member firm, Change Accountants and Advisors and its subsidiary Change GPS to existing principal management team for a cash consideration. The company says it formed a view that the companies were not aligned and that the sale was in the best interests of Countplus. Shares in Countplus are trading down 3.13 per cent at $0.78.
Best and worst performers
The best performing sector is Healthcare, gaining 1 per cent to 21,954. Shares in Regis Healthcare have risen 3.41 per cent and trading at $4.55. Shares in Japara Healthcare and Sonic Health are also stronger.
The sector with the least gains is Energy adding 0.4 per cent to 8,097. Shares in Oil Search have fallen 1.72 per cent, trading at $6.57. Shares in Woodside Petroleum are lower and Origin Energy are higher.
Gold and the dollar
Gold is trading at $US1,211 an ounce.
The Australian dollar is buying $US0.7227.
