Despite weak leads from Wall Street, the Australian share market is doing well today. It opened in positive territory and is currently tracking 0.15 per cent higher at noon. Today, the banks are leading the charge, with ANZ being the strongest performer -- despite announcing that its cash profit fell 3% (around $5 billion) in the nine months to 30 June.
The ASX 200 Index is 8 points higher at 5,546. On the futures market the SPI is up 13 points.
Company newsMesoblast Limited
(ASX:MSB) has announced that Phase 2 trial results of its cell-therapy has shown improvements in patients with Refractory Rheumatoid Arthritis. The Phase 2 trial was conducted over 12 weeks and involved 48 patients who suffer from that condition.
Shares in Mesoblast are trading up 1.76 per cent at $1.16.
Evolution Mining Limited
(ASX:EVN) says it is has received offers from third parties to buy its Pajingo gold mine in Queensland. The gold miner says, if it were to sell the mine, it would result in a loss on the sale between $70 and $80 million. But if the sale does not proceed, then Evolution will instead write down the mine’s carrying value by a similar amount in its 2016 financial accounts.
Shares in Evolution Mining are trading down 1.6 per cent at $2.77.
Best and worst performersThe best performing sector is Financials excluding REITs, gaining 1.2 per cent to 6,804. Shares in ANZ have risen 3.05 per cent and trading at $26.48. Shares in Bendigo Bank and Westpac are also stronger.
The worst performing sector is Consumer Discretionary, falling 1.3 per cent to 2,198. Shares in the REA Group fell 3.32 per cent and are trading at $58.20. Shares in Aristocrat Leisure and Mantra Group are also lower.
IPOsNoxofarm Limited
(ASX:NOX) started trading today. The pharmaceuticals and biotechnology company floated with an issue price of 20 cents, opened at 18 cents and is currently trading at 18.5 cents.
Gold and the dollarGold is trading at $US1,334 an ounce.
The Australian dollar is buying $US0.7641.
