Despite positive leads from Wall Street on Monday, the Australian share market plunged at the open. It briefly rebounded into positive territory. However, those gains have now been erased, as the ASX200 is now back in the red, tracking 0.12% lower.
All the big four banks have sustained losses, while the biggest drag on the market is the Materials space. Once again, the star performer is the Energy sector.
The S&P/ASX 200 index is 7 points lower at 5,452. On the futures market the SPI is down 6 points.
Company newsSomnoMed Ltd
(ASX:SOM) has appointed Derek Smith as its new global CEO. Mr Smith will take up that position from 1 September.
Shares in SomnoMed are trading 0.6 per cent higher at $3.35.
A.P. Eagers Ltd
(ASX:APE) says it is expecting a record profit result for the half year to 30 June. In particular, the company expects its net profit before tax (for the first half of 2016) to be $67.8 million – which is 14 percent higher compared to the previous year.
Shares in A.P. Eagers are trading down 2.19% cent at $11.60.
Best and worst performersThe best performing sector is Energy, gaining 0.8 per cent to 8,554. Shares in Oil Search have risen 1.52 per cent and trading at $7.36. Shares in Origin Energy and Woodside Petroleum are also stronger.
The worst performing sector is Materials, falling 0.7 per cent to 8,753. Shares in Western Areas have fallen 2.64 per cent, trading at $2.77. Shares in South32 and Alumina are also lower.
IPOsOventus Medical listed on the ASX today. Its issue price was 50 cents, and opened at 60 cents (which is also its current price).
Gold and the dollarGold is trading at $US1,330 an ounce.
The Australian dollar is buying $US0.7512.
