The Australian share market fell at the start of trade, following weak leads from Wall Street overnight. The local index is currently tracking 0.16% lower at noon.
The Energy sector is the worst performer today, having been affected by the fall in oil prices, due to fears of a global oversupply. On the other hand, Materials shares are leading the charge today.
The ASX 200 is 8 points lower at 5,504. On the futures market the SPI is down 24 points.
Company news Macquarie Atlas Roads Ltd
(ASX:MQA) has released its toll revenue and traffic statistics for the June 2016 quarter. Compared to the June 2015 quarter, Macquarie’s weighted average toll revenue grew by over 5%, and its weighted average traffic revenue increased more than 2%.
Macquarie also says, in the 6-months to 30 June, its toll revenue grew by over 6%, while traffic revenue grew by over 4%, compared to the same period last year.
Shares in Macquarie Atlas Roads are trading 0.72% higher at $5.61.
The New Zealand High Court has approved the Scheme of Arrangement for global resins maker, Allnex New Zealand Limited, to acquire all the shares in Nuplex Industries Ltd
(ASX:NPX). Nuplex says completion will occur in around 10 business days – after Allnex receives final anti-trust clearance from the European Commission, which is expected in August.
Shares in Nuplex are trading flat at $4.91.
Best and worst performers
The best performing sector is Materials, gaining 1 per cent to 8,578. Shares in Regis Resources have risen 8.47 per cent and are trading at $3.84. Shares in Saracen Minerals and Independence Group are also stronger.
The worst performing sector is Energy, falling 1.1 per cent to 8,532. Shares in Oil Search have fallen 2.09 per cent, and are trading at $7.25. Shares in Woodside Petroleum and Santos are also lower.
Gold and the dollar
Gold is trading at $US1,331 an ounce.
The Australian dollar is buying $US0.7481.
